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950 18th Ave S
Saint Petersburg, FL 33705
Cromwell Flats · Multifamily Property For Sale
·
11 Units
Investment Highlights
- 11-Unit Multifamily Community Just South of Downtown St. Petersburg, FL
- 3-Bedroom Units Include Washer & Dryer Connections
- 6.5% Takeover Cap Rate with Adjusted Taxes and a New Insurance Policy
- Diverse Unit Mix Includes 3-Beds (27%), 2-Beds (18%), 1-Beds (46%), and Studios (9%)
- All Units Have Either Ducted or Mini-Split HVAC Systems
- 8.5%+ Pro Forma Cap Rate Achievable by Participating in St. Pete Housing Authority’s (SPHA) Affordable Housing Program
Property Facts
| No. Units | 11 | Lot Size | 0.15 AC |
| Property Type | Multifamily | Building Size | 6,717 SF |
| Property Subtype | Apartment | Average Occupancy | 100% |
| Apartment Style | Garden | No. Stories | 2 |
| Building Class | C | Year Built | 1925 |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 6,717 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1925 |
Amenities
Unit Amenities
- Air Conditioning
- Stainless Steel Appliances
- Tub/Shower
- Vinyl Flooring
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | 300 |
| 1+1 | 5 | - | 434 |
| 2+1 | 2 | - | 600 |
| 3+1 | 3 | - | 1,106 |
Property Taxes
| Parcel Number | 25-31-16-19350-001-0070 | Improvements Assessment | $433,404 |
| Land Assessment | $56,596 | Total Assessment | $490,000 |
Property Taxes
Parcel Number
25-31-16-19350-001-0070
Land Assessment
$56,596
Improvements Assessment
$433,404
Total Assessment
$490,000
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