Historic Old Northeast Apartment Building

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30767226
Property Subtypes: Mid-Rise
Status: Pending
Number of Units: 12 Units
Building Size (RSF): 6,204 SF
Gross Building Area: See Agent
Gross Land Area: 4,320 SF
Sale Price: $1,850,000
Unit Price: $154,166.67 Per Unit
Property Use Type: Investment
Building Name: The MaryAnn
Usable Size (USF): 6,204 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/18/2021

Overview / Comments

Ned Willis, Broker - nwillis@vectorrealty.com - 727-823-1230, ext. 230

This 12-unit apartment building is located in the Historic Old Northeast district of St. Petersburg, one block from Beach Drive and the waterfront. Residents are within walking distance of downtown, Northshore Park, the Vinoy Resort, the Pier as well as hundreds of shops and restaurants. The property consists of eight one-bedroom/one-bath units and four studio units. Occupancy is at 100% and all tenants pay rent on a timely basis, including through the Covid-19 pandemic. Rents are well below market, which will allow a new owner to reset the rents and maximize revenue.

Additional Details

Nearest MSA: Tampa-St. Petersburg-Clearwater
County: Pinellas
Tax ID/APN: 17 31 17 03435 003 0011
Zoning: NT-3
Percent Occupied: 100%
Highway Access: I-275
Airports: TPA, PIE
Total Number of Buildings: 1
Property Condition: Good
Number of Stories: 2
Year Built: 1922
Construction/Siding: Wood Frame
Parking Type: Other
Parking Description: Street Parking
Laundry: Shared

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 16,948 103,889 231,093
Median Age: 46.3 41.88 41.9
Households: 9,355 46,928 101,197

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