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135 7th Ave NE 6 Unit Apartment Building $1,260,000 ($210,000/Unit) Saint Petersburg, FL 33701
Investment Highlights
- A six unit Old Northeast Multifamily property with a 3/2 main house, fenced in private pool, five 1/1’s, four garage units, and shared laundry
- Located within easy walking distance of Downtown St. Pete, The Vinoy, The St. Pete Pier, Beach Drive, and North Shore Park
- Full electrical rewire completed in the main house by ownership, along with routine appliance replacement and regular interior and exterior upkeep
- Updated units with new bathrooms, mostly new kitchens, mostly new windows, updated electric, and updated duct work
- Four garage bays with rear alley access. Two are rented to tenants, one is used for shared laundry, and one is used as storage for property manager
- Owner-occupant option: live in the 3/2 main house with private pool while the remaining five units carry the property
Executive Summary
135 7th Ave NE is far from your typical multifamily investment. This Historic Old Northeast property consists of an oversized lot, three buildings with a shared courtyard, four garage spaces, and a private, fenced-in pool. The Main House holds a large 3/2 and two 1/1s. The two buildings out back contain shared laundry, two rented garage spaces, a garage space used for storage, and three 1/1s. Ownership has put a substantial amount of work into the property, including rewiring the electric, upgrading every bathroom, new windows in the main house, replacing appliances routinely, and regular and routine maintenance and upgrades on the interior and exterior. 135 7th Ave NE will work perfectly for an investor looking for cash flowing assets with exceptionally high long term appreciation potential, or an investor who is interested in living in a well maintained 3/2 with a pool while renting out the remaining five units for passive income.
Property Facts Under Contract
| Price | $1,260,000 | Building Class | C |
| Price Per Unit | $210,000 | Lot Size | 0.24 AC |
| Sale Type | Investment | Building Size | 4,826 SF |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1935 |
| Property Subtype | Apartment | Parking Ratio | 0.83/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | RMF - Residential Multifamily | ||
| Price | $1,260,000 |
| Price Per Unit | $210,000 |
| Sale Type | Investment |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.24 AC |
| Building Size | 4,826 SF |
| No. Stories | 2 |
| Year Built | 1935 |
| Parking Ratio | 0.83/1,000 SF |
| Zoning | RMF - Residential Multifamily |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Storage Space
- Washer/Dryer
- Yard
- Lawn
- Patio
Site Amenities
- Pool
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | - | 400 - 500 |
| 3+2 | 1 | - | 2,000 |
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Moderately walkable
70/100
Moderately drivable
70/100
Some public transit
50/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 18-31-17-78732-000-0090 | Improvements Assessment | $475,763 |
| Land Assessment | $924,237 | Total Assessment | $1,400,000 |
Property Taxes
Parcel Number
18-31-17-78732-000-0090
Land Assessment
$924,237
Improvements Assessment
$475,763
Total Assessment
$1,400,000
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135 7th Ave NE