1405 7Th N Ave St Petersburg FL 33705 MLS U8245876

$985,000

Reduced By $2,000
last change 6/21/2024

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Home Description: 1405 7Th N Ave

Charming 4-Unit Multi-Family Property in Uptown St. Pete Producing $6,082 monthly. Step into a prime investment opportunity with this meticulously renovated 2-story multi-family property in the sought-after Uptown neighborhood of St. Petersburg. This charming building blends historic elegance with modern amenities. Fully leased and generating $6,082 monthly, it promises consistent cash flow and long-term appreciation potential. This property offers an excellent ROI with potential for rent increases. As a turnkey investment, all four units are fully renovated with modern finishes, ensuring minimal immediate capital expenditure. Each unit has its own electric meter, simplifying management and making utility costs predictable. Located just minutes from Downtown St. Pete’s vibrant dining, shopping, and entertainment, the neighborhood boasts high rental demand, ensuring low vacancy rates and stable income. Unit 1 is a 1-bedroom, 1-bathroom unit renting for $1,700 per month with 9 months remaining on the lease. Unit 2, on the second floor, is a studio with a separate kitchen and private bathroom, currently renting for $1,507 per month, with an expected renewal at $1,600 per month. Unit 3, also on the second floor, is a studio with a private bathroom, renting for $1,600 per month with 8 months remaining. Unit 4 is a ground-floor studio with a full kitchen and private bathroom, renting for $1,275 per month, also with 8 months remaining. With individual electric meters and modern amenities, property management is streamlined. St. Pete’s growing real estate market promises value appreciation, making this property an attractive long-term investment. Financially, the property an annual gross income of $72,984. With anticipated rent adjustments, the annual income can increase further, enhancing the investment’s profitability. All financial details and lease information provided are accurate as of the listing date. Prospective buyers are encouraged to verify all details and conduct thorough due diligence. Seize this lucrative investment opportunity today and secure your stake in St. Pete’s thriving real estate market!!!