600 Corey Ave
St Pete Beach, FL 33706
12% Cash-On-Cash Return! St.Pete Beach Villas · Multifamily Property For Sale · 7 Units

THE ST. PETE BEACH VILLAS IS A 7-UNIT APARTMENT COMPLEX LOCATED STEPS FROM THE GULF ON BEAUTIFUL ST. PETE BEACH, FL! DUE TO ITS SUPREME LOCATION, THE DEMAND FOR RENTAL UNITS IN THIS AREA IS OFF THE CHARTS. THE PROPERTY CONSISTS OF 6 (1-BEDROOM/1-BATHROOM APARTMENTS) AND ONE (2-BEDROOM/2-BATHROOM APARTMENT), IN ONE OF THE HOTTEST AREAS IN ALL OF FLORIDA! THE SELLER IS OFFERING AMAZING SELLER FINANCING (SEE P.5 FOR SELLER FINANCING DETAILS), WHICH MAKES THIS DEAL EVEN BETTER!
THIS FREE-STANDING APARTMENT BUILDING WAS FULLY REDONE IN 2026! EACH UNIT WAS CAREFULLY CRAFTED TO INCLUDE THE FINEST FINISHES AND TOP-NOTCH AMENITIES! THE PROPERTY IS IN IMMACULATE CONDITION, AND THE MANY RECENT IMPROVEMENTS INCLUDE: FULLY REDONE INTERIORS, NEW BATHROOMS, NEW WEATHERPROOF WINDOWS, NEW DOORS, NEW FLOORING, NEW ROOF, NEW PLUMBING, NEW HVAC, NEW ELECTRICAL, NEW ON-SITE LAUNDRY ROOM, POOL ACCESS, AND MUCH MORE! THE OWNERS HAVE SPENT OVER 700K ON THE RENOVATIONS TO CREATE THE MOST BEAUTIFUL BUILDING IN THE NEIGHBORHOOD.
WITH THE AMAZING SELLER FINANCING TERMS AVAILABLE, THE PROPERTY CURRENTLY BOASTS A CASH-ON-CASH RETURN OF OVER 12%. THE RETURNS WILL ONLY GET BETTER, AS A BUYER CAN EASILY OBTAIN A CASH-ON-CASH RETURN OF OVER 16.3% IN 2027 BY SIMPLY BRINGING THE RENTAL RATES UP TO THE CURRENT MARKET AVERAGE IN ST. PETE BEACH!! THIS SOUTH FLORIDA GEM IS PERFECT FOR AN INVESTOR LOOKING FOR A CASH-FLOWING ASSET THAT NEEDS ZERO CAPEX AND VERY LITTLE DAY-TO-DAY MAINTENANCE DUE TO ITS IMMACULATE CONDITION!
SELLER FINANCING APPROXIMATE TERMS:
DOWN PAYMENT: 20% OR $500,000!
FIXED INTEREST RATE:
Years 1 & 2: (4%) Year 3: (4.5%) Years 4 & 5: (5%) INTEREST-ONLY PAYMENTS OR
AN AMORTIZATION OF 30 YEARS
BALLOON LENGTH: 5 YEARS
MONTHLY DEBT SERVICE PAYMENT AS LOW AS $6,666!
THIS 7-UNIT GEM JUST STEPS FROM THE GULF WAS FULLY REDONE IN 2026! EVERYTHING IN THE BUILDING IS BRAND NEW, INCLUDING PLUMBING, ELECTRICAL, HVAC UNITS, AND ROOFS. THE PROPERTY CONSISTS OF IMMACULATE UNITS WITH BREATHTAKING VIEWS OF ST. PETE BEACH. SITUATED JUST A BLOCK FROM THE WATER, THIS AREA HAS BECOME A HUB FOR BOTH SHORT-TERM AND LONG-TERM RENTALS AND HAS CONSISTENTLY SEEN AVERAGE OCCUPANCY RATES ABOVE 95% SINCE 2020! THE PROPERTY HAS AMPLE PARKING FOR ALL GUESTS AND TENANTS, AS WELL AS AN ON-SITE COIN-OPERATED LAUNDRY ROOM AND POOL ACCESS FOR ALL TENANTS.
A BUYER CAN EASILY OBTAIN A CASH-ON-CASH RETURN OF OVER 16.3% BY THE END OF 2027, SIMPLY BY RENTING EACH UNIT AT THE MARKET RENTAL RATE. DUE TO THE MASSIVE DEMAND IN THE AREA AND THE LIMITED NUMBER OF UNITS AVAILABLE FOR RENT, THIS WILL ONLY CONTINUE TO RISE! GIVEN THAT EACH UNIT HAS BEEN RECENTLY REDONE, A BUYER CAN INCREASE THE RENTAL RATES WITHOUT HAVING TO SPEND MONEY ON CAPEX! THIS CREATES ENORMOUS UPSIDE FOR AN INVESTOR LOOKING FOR A VALUE-ADD PROPERTY IN ONE OF THE MOST SOUGHT-AFTER AREAS IN FLORIDA!
THE PROPERTY IS IN EXCELLENT CONDITION, AS IT WAS FULLY GUTTED TO THE STUDS AND REDONE THIS YEAR. RECENT IMPROVEMENTS TO THE PROPERTY INCLUDE, BUT ARE NOT LIMITED TO: FULLY REDONE INTERIORS, NEW BATHROOMS, NEW WEATHERPROOF WINDOWS, NEW DOORS, NEW FLOORING, BRAND NEW ROOF, NEW PLUMBING, NEW HVAC, NEW ELECTRICAL, INTERIOR AND EXTERIOR PAINT, NEW ON-SITE LAUNDRY ROOM, POOL ACCESS, NEW TREES, AND NEW LANDSCAPING IN FRONT OF THE BUILDING! THE OWNERS HAVE SPENT OVER 700K ON THE RENOVATIONS TO CREATE THE MOST BEAUTIFUL BUILDING IN THE NEIGHBORHOOD. THE OWNER PAYS FOR ALL WATER, SEWER, AND TRASH, AND THE TENANTS PAY FOR THEIR OWN ELECTRICITY! EACH NEW TENANT WILL HAVE A $50 UTILITY FEE INCLUDED IN THEIR NEW LEASE TO REDUCE THE OWNER'S MONTHLY COST!