Value-Add 57-Unit Apartment
3435 3rd Ave N St Petersburg, FL 33713
3435 3rd Ave N, St Petersburg, FL, 33713
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For Sale
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Pending
Concrete-block, 57-unit apartment community with a mix of one- and two-bedroom homes and 21 recently renovated units.
Days on Market104
Property Features for 3435 3rd Ave N
General Information
- Standard status
- Pending
- Property subtype
- Multifamily
Listing agency
JLL - Tampa, Florida
(303) 525-8133
Listed by
Joe Thavis · License #FL 3413769
Source
Crexi
Added: Apr 11 Updated: Jul 22 at 12:38PM Checked: Jul 22 at 12:38PM
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Investment Insights
Based on property information with market context.
Loft at Third is a 57-unit value-add multifamily property constructed of concrete block. The building includes forty-eight (48) one-bedroom, one-bathroom units and nine (9) two-bedroom, one-bathroom units. Current ownership has fully renovated 21 units, while 36 “classic” units feature white shaker cabinets, vinyl plank flooring, formica countertops, and a tile backsplash.
The property is centrally located 2.5 miles from Downtown St. Petersburg to the east and approximately 4 miles from the internationally recognized Pinellas County beaches to the west. It is also about 1.9 miles from the 86-acre Tropicana Field master redevelopment site.
According to CoStar, Downtown experienced 22.7% rent growth over the past 12 months. Loft at Third’s stated renovation upside is that executing a higher quality renovation package (including modern lighting, granite countertops, USB outlets, and stainless-steel appliances) has the potential to bring effective rents to market levels, with average rental rates projected to be $296 higher than the current in-place rents.
The property is centrally located 2.5 miles from Downtown St. Petersburg to the east and approximately 4 miles from the internationally recognized Pinellas County beaches to the west. It is also about 1.9 miles from the 86-acre Tropicana Field master redevelopment site.
According to CoStar, Downtown experienced 22.7% rent growth over the past 12 months. Loft at Third’s stated renovation upside is that executing a higher quality renovation package (including modern lighting, granite countertops, USB outlets, and stainless-steel appliances) has the potential to bring effective rents to market levels, with average rental rates projected to be $296 higher than the current in-place rents.
Key Highlights
- 57‑unit multifamily community with a concrete‑block construction and a mix of 1‑bedroom/1‑bath and 2‑bedroom/1‑bath units
- Unit mix: 48 one‑bedroom/one‑bath units and 9 two‑bedroom/one‑bath units
- Ownership completed renovations on 21 units; remaining classic units include white shaker cabinets, vinyl plank flooring, formica countertops, and tile backsplash
Property Analytics
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Charter House Apartments
Apartment Building
Loft at Third
Apartment Building
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FAQs
What type of property is this?
Apartment building - Concrete-block, 57-unit apartment community with a mix of one- and two-bedroom homes and 21 recently renovated units.
Where is this apartment building located?
The property is located at 3435 3rd Ave N St Petersburg, FL.
What are key features of this property?
This property features: 57‑unit multifamily community with a concrete‑block construction and a mix of 1‑bedroom/1‑bath and 2‑bedroom/1‑bath units; Unit mix: 48 one‑bedroom/one‑bath units and 9 two‑bedroom/one‑bath units; Ownership completed renovations on 21 units; remaining classic units include white shaker cabinets, vinyl plank flooring, formica countertops, and tile backsplash
