Residential Property - Single Family Residence in Saint Petersburg
Listing Price: $650,000 (Mortgage Calculator →)
Description of Property
Welcome to your next income-producing investment opportunity! This property presents an exceptional chance to secure a steady return with an impressive 11% Cap Rate post-operating expenses. Comprising two units on a single lot, this investment gem offers versatility and stability. The primary unit boasts a spacious layout featuring 5 bedrooms and 3 bathrooms, while the secondary unit offers 4 bedrooms and 2 bathrooms. Currently operating under a group living model, the property is fully stabilized with a 100% occupancy rate. Each occupant enjoys the luxury of their own individual sleeping quarters equipped with a TV, promoting privacy and comfort. Common areas include well-appointed kitchen and laundry spaces, fostering a sense of community among tenants. TWO other buildings adjacent are also available for purchase-each also with a 11% cap rate. Recently renovated to the highest standards, this property exudes modern elegance and functionality. Highlights of the renovation include premium vinyl flooring, sleek stainless steel appliances, luxurious quartz countertops, glass shower enclosures, and the convenience of in-unit washer/dryer setups. Furthermore, the units come fully furnished, complete with TVs, ensuring an attractive offering for tenants seeking convenience and style. This investment opportunity is tailored for passive income seekers, with streamlined management processes in place for your peace of mind. An online booking platform facilitates tenant reservations, while an experienced management company handles all on-the-ground operations, from maintenance requests to tenant inquiries. With a robust Cap Rate of 11%, this investment is not only lucrative but also inclusive of all associated fees. From Padsplit marketing and portal expenses to on-the-ground management services, utilities (including WiFi), taxes, and insurance – everything is comprehensively covered. Don't miss out on this turnkey investment opportunity offering both exceptional returns and hassle-free management. Take advantage of the potential for long-term financial growth and schedule your viewing today!
Bedrooms: 9
Bathrooms: 3
Sq. Ft. Gross: 2,766
Garage: No
Carport: Yes2 vehicles
Parking Features:
Spa Features:
Water Frontage:
Water Features:
Water Access:
Property Details At A Glance
Property Type: Residential
Property Use or Sub Type: Single Family Residence
City: Saint Petersburg
County: Pinellas
Subdivision: Lakeside Sub
Bedrooms: 9
Bathrooms: 3
Sq. Ft. Gross: 2,766
Sq. Ft. Living Area: 2,310
Cost per (heated) sqare foot: $281
Year built: 1936
Annual Tax: $4,876
Taxes and fees can change periodically, and other fees may apply. Please check with your Suncoasteam agent for more details.
Appliances:
- Dryer
- Range
- Refrigerator
- Washer
Accessibility Features:
Window Features:
Additional Rooms:
Ceiling Type:
Flooring: Tile, Vinyl
Pool & Waterfront Info
Private Pool: Not specified
Pool Features:
Spa Features:
Water Frontage:
Water Access: Not specified
Water Access Type:
Water View:
Exterior & Construction
Architectural Style:
Construction: Block
Foundation: Slab
Roof: Shingle
Exterior Features: Other
Carport: Yes
Carport Spaces: 2
Parking Features:
Floors Total:
Floors in Unit: One
Cooling: Mini-Split Unit(s)
Heating & Fuel: Heat Pump
Electric:
Patio & Porch Features:
Security Features:
Other Structures:
View:
Fencing: Fenced
Utilities:
- Cable Available
- Cable Connected
- Electricity Available
- Electricity Connected
Sewer: Public Sewer
Water Source: Public
Community Features:
Association Amenities:
Lot Information
Lot Features:
Lot Size (acres): 0.38
Lot Size (sq. ft.): 16,560 square feet
Front Exposure: Southeast
Adjoining Property:
Current Adjacent Use:
Legal Description & Other Information
Financing Available: Cash, Conventional
Parcel Number: 023116486360010060
Tax Legal Desc.: LAKESIDE SUB BLK 1, LOTS 6,20 AND 21 & N 1/2 OF LOTS 5 AND 22
Section: 2
Range: 16
Listing courtesy of HOMAN REALTY GROUP INC. The information relating to real estate for sale on this website comes in part from the My Florida Regional MLS DBA Stellar MLS. This information is provided exclusively for consumers' personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed accurate by the MLS.