5050 74Th St N 1 Saint Petersburg, FL 33709
Six-unit property with waterfrontage, offering immediate income and renovation potential.
Lot size:
0.36 AcresProperty Features for 5050 74Th St N 1
General Information
- Property type
- Investment
- Standard status
- Active
- Lot size
- 0.36 Acres
Building Details
- Year built
- 1980
Source:
Elliman
Listing Agent: Steven Sallo
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Waterfront Multi-Unit Investment Opportunity
This multi-unit property presents an investment opportunity with six units and 135 feet of waterfrontage. The property includes three two-bedroom, one-bath units, two studio units, and one one-bedroom, one-bath unit. All units are currently occupied, with tenants on month-to-month agreements. Current rents are $1,800 for each of the two-bedroom units, $1,200 for each of the studio units, and $1,150 for the one-bedroom unit, generating a total monthly income of $8,950 and an annual income of $107,400. Annual expenses include $4,128 for water and garbage pickup ($250 per month and $94 per month), $6,800 for taxes, and $4,103 for insurance. The plumbing and electrical systems were upgraded 4 years ago, and the central air conditioning system is also 4 years old. There is an opportunity to add a laundry area, potentially as an ADU-type building, to generate additional income. The property is located in a St. Pete neighborhood.
Location Intelligence
Current Use by Public Records
1031 exchange properties
Location Insight
- Map
- Local Demand
- City
- Saint Petersburg
- County
- Pinellas
- State
- Florida
- Longitude
- -82.741429
- Latitude
- 27.8178815
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Six-unit property with waterfrontage, offering immediate income and renovation potential.
Where is this apartment building located?
The property is located at 5050 74Th St N 1 Saint Petersburg, FL.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: - Enjoy a **10% Cap Rate** with the potential to increase to 12-15%.; - **Waterfront property with 135 ft of frontage** and an additional waterfront lot.; - Fully occupied 6-unit multi-family property generating $107,400 annual income.
