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3103 48th Ave S
Saint Petersburg, FL 33712
Oak Park Villas · Multifamily Property For Sale
·
44 Units
Investment Highlights
- Value-Add Opportunity to Renovate 59% of Classic Units and Further Upgrade the 41% of Renovated Units to Achieve Premium Level Renovation Status
- 0.85 Acres of Vacant Land Next Door, Zoned NSM-1 Which Allows for 12 Market Rate Units or 17 Affordable Units to be Built
- Current Average Lease Rent: $1,820 // Current Average Base Market Rent: $1,957 // Pro Forma Average Rent: $2,077
- Roughly $1,000,000 Spent on Interior/Exterior Renovations
- Significant Value-Add with $257+ in Average Monthly Rental Upside Through Renovations and Loss-to-Lease Recapture
- Strong Unit Mix Featuring 73% 2 Bed Townhomes and 27% 2 Bed, 1 Bath Flats All With Private Garages
Property Facts
| No. Units | 44 | Building Size | 64,896 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1984 |
| Building Class | C | Parking Ratio | 0.62/1,000 SF |
| Lot Size | 4.75 AC | ||
| Zoning | A - Apartment | ||
| No. Units | 44 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 4.75 AC |
| Building Size | 64,896 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1984 |
| Parking Ratio | 0.62/1,000 SF |
| Zoning | A - Apartment |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Disposal
- Storage Space
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Freezer
- Patio
- Window Coverings
Site Amenities
- 24 Hour Access
- Fenced Lot
- Pool
- Tenant Controlled HVAC
- Renters Insurance Program
- Trash Pickup - Curbside
- Storage Space
- Maintenance on site
- Online Services
- Sundeck
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 12 | - | 976 |
| 2+1.5 | 32 | - | 1,108 - 1,140 |
Property Taxes
| Parcel Numbers | Improvements Assessment | $4,460,191 | |
| Land Assessment | $2,539,809 | Total Assessment | $7,000,000 |
Property Taxes
Parcel Numbers
Land Assessment
$2,539,809
Improvements Assessment
$4,460,191
Total Assessment
$7,000,000
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