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Parklane Condos 3 Flex Condos Offered at $1,399,000 in Saint Petersburg, FL
Investment Highlights
- 0 Vacancies
- 13 rentable units
Executive Summary
Introducing a highly sought-after multifamily investment opportunity located in the Parklane Condominiums of St. Petersburg well-performing, professionally managed community with a stable tenant base and strong market fundamentals. This 13-unit portfolio consists of eleven 1-bedroom units and two 2-bedroom units, with near full occupancy and reliable rental performance. Situated just off the 4th Street corridor and minutes from downtown, the property benefits from excellent connectivity to I-275, vibrant employment centers, retail corridors, and public transit lines. The asset operates under a condominium regime with HOA coverage that includes exterior maintenance, roofing, landscaping, pool service, water, sewer, trash, and cable, which significantly reduces operational burden and creates an attractive management-light investment structure. The fenced grounds, mature landscaping, and community amenities including a pool and gazebo, provide long-term stability and tenant retention. With projected gross rents surpassing $15,000 per month and consistent historical occupancy, this portfolio is well-positioned for institutional or private capital seeking a scaled, income-producing asset with limited turnover and strong cash-on-cash performance in one of Tampa Bay's fastest-growing submarkets.
Data Room Click Here to Access
Taxes & Operating Expenses (Actual - 2024) Click Here to Access |
Annual |
|---|---|
| Gross Rental Income |
$99,999
|
| Other Income |
-
|
| Vacancy Loss |
-
|
| Effective Gross Income |
$99,999
|
| Net Operating Income |
-
|
Taxes & Operating Expenses (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Other Income | |
|---|---|
| Annual | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Net Operating Income | |
|---|---|
| Annual | - |
Property Facts
| Price | $1,399,000 | Status | Active |
| Price / SF | $840.24 / SF | Number of Properties | 3 |
| Cap Rate | 7.87% | Individually For Sale | 0 |
| Sale Type | Investment or Owner User | Total Building Size | 1,665 SF |
| Price | $1,399,000 |
| Price / SF | $840.24 / SF |
| Cap Rate | 7.87% |
| Sale Type | Investment or Owner User |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 1,665 SF |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Placido Bayou MF Submarket- Multi-Family
335 47th Ave N, Saint Petersburg, FL 33703 |
Flex Condo | 555 SF | 1973 | - |
| 379 47th Ave N, Saint Petersburg, FL 33703 | Flex Condo | 555 SF | 1973 | - |
| 334 48th Ave N, Saint Petersburg, FL 33703 | Flex Condo | 555 SF | 1970 | - |
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Presented by
Lombardo Team Real Estate LLC
Parklane Condos
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