- For Sale $3,995,000
- Property Type Multi-Family
- Property Size 15,861 SF
- Units 24
- Lot Size 0.88 Acre
- Parking Spaces Avail. 50
- Property Tenancy Multi-Tenant
- Year Built 1988
- Year Renovated 2022
- Date Updated Jun 6, 2026
Description
24-UNIT CONDO PORTFOLIO ACROSS BEAUTIFUL ST. PETERSBURG AND CLEARWATER, FL. TWO OF THE HOTTEST MARKETS IN THE COUNTRY RIGHT NOW!
Highlights
- 13% CASH-ON-CASH RETURN IN 2026!
- 13% CASH-ON-CASH RETURN IN PLACE!
- 24-UNIT CONDO PORTFOLIO ACROSS ST.PETE/CLEARWATER AND LARGO, FL!
- 8% CAP RATE IN 2025!
- 8.4% CAP RATE IN 2026!
- 9% CAP RATE IN 2027!
- ABILITY TO INCREASE THE RENTAL RATES IMMEDIATELY WITHOUT HAVING TO SPEND MONEY ON CAPEX.
- ALL UNITS HAVE BEEN UPDATED IN THE PAST 5 YEARS AND ARE IN FANTASTIC CONDITION!
- CLASS A UNITS IN CONDO BUILDINGS WITH AMENITIES SUCH AS: POOLS, GYM, CLUBHOUSES, TENNIS COURTS, DINING AREAS AND MUCH MORE! AMAZING SELLER FINANCING TERMS AVAILABLE: DOWN PAYMENT: $1,000,000 (YEAR 1 IR: 6%), (YEAR 2 IR: 7%), (YEAR 3 IR: 8%) INTEREST-ONLY PAYMENTS, 3-YEAR BALLOON!
- EACH PROPERTY HAS AN HOA THAT IS RESPONSIBLE FOR WATER, EXTERIOR BUILDING MAINTENANCE, PROPERTY INSURANCE, ROOF REPAIRS, COMMON AREA MAINTENANCE, MGMT, AND MUCH MORE!
- SEVERELY UNDER-MARKET RENTAL RATES IN PLACE, GIVING THE BUYER MASSIVE UPSIDE!
False
Contacts
David Rosenthal
Grimaldi Commercial Realty Corp.
Location
Located at 115 112th Ave NE, Saint Petersburg, FL 33716, this property is part of the Brighton Bay neighborhood and Tampa St Petersburg Clearwater market.
Contact Listing Broker
David Rosenthal
Grimaldi Commercial Realty Corp.
