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3157 Nautical Pl S - The Cove at Loggerhead Marina (10 Units) 10 Unit Apartment Building Offered at $4,100,000 Saint Petersburg, FL 33712
Investment Highlights
- This portfolio features modern three-bedroom/two-and-one-half bathrooms ranging from 1,920 to 1,970 sqft each with an attached garage
- Investors can pursue a phased retail sellout, long-term rental hold, bulk disposition or hybrid strategy
- Within the last 1.5 years, the average (non-waterview) trade within the community was $560,000
Executive Summary
2016 built, 10-unit condominium portfolio offered at a substantial bulk discount. Opportunity to execute a phased sellout strategy with projected 25%+ returns based on recent individual sales within the Cove at Loggerhead Marina community. This portfolio features modern three-bedroom/two-and-one-half bathrooms ranging from 1,920 to 1,970 sqft each with an attached garage. Located within the gated Cove at Loggerhead Marina, a highly sought-after boating community featuring direct Gulf access,
marina amenities and a resort-style waterfront lifestyle. Positioned within the desirable Greater Pinellas Point submarket, offering convenient access to Downtown St. Petersburg, Fort De Soto Park, Gulf beaches, Tampa Bay Westshore employment centers and the Sunshine Skyway corridor. The Tampa-St. Petersburg MSA continues to benefit from population growth, employment expansion, and a diversified economic base anchored by healthcare, financial services and tourism
marina amenities and a resort-style waterfront lifestyle. Positioned within the desirable Greater Pinellas Point submarket, offering convenient access to Downtown St. Petersburg, Fort De Soto Park, Gulf beaches, Tampa Bay Westshore employment centers and the Sunshine Skyway corridor. The Tampa-St. Petersburg MSA continues to benefit from population growth, employment expansion, and a diversified economic base anchored by healthcare, financial services and tourism
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Miscellaneous
Property Facts
| Price | $4,100,000 | Building Size | 19,300 SF |
| Price Per Unit | $410,000 | Average Occupancy | 100% |
| Sale Type | Investment | No. Stories | 3 |
| No. Units | 10 | Year Built | 2016 |
| Property Type | Multifamily |
| Price | $4,100,000 |
| Price Per Unit | $410,000 |
| Sale Type | Investment |
| No. Units | 10 |
| Property Type | Multifamily |
| Building Size | 19,300 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2016 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2.5 | 8 | $3,200 | 1,920 |
| 3+2.5 | 2 | $3,200 | 1,970 |
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Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
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Matterport 3D Tour
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