5845 Fairfield Ave S St Petersburg, FL 33707

This exceptional value-add multifamily investment opportunity in St. Petersburg, Florida, presents a compelling chance to increase profitability. Located at 5845 Fairfield Ave S, this property comprises an eight-unit, two-story apartment building constructed in 1974. The building sits on a 0.31-acre lot and encompasses a total of 7,308 square feet, with 6,384 square feet of net rentable space. The unit mix includes four one-bedroom, one-bathroom units and four two-bedroom, one-bathroom units. Currently, rents are slightly below market rates, offering significant potential for revenue growth through renovations and market-rate adjustments. The property benefits from its desirable location, situated in a quiet neighborhood directly adjacent to the Pinellas Trail. Its proximity to Boca Ciega High School, Central Avenue, and easy access to St. Pete Beach and Treasure Island further enhance its appeal. The property is located in Flood Zone X. This investment presents a strong opportunity for long-term appreciation in a thriving market. The property's APN is 20-31-16-67644-000-0030. Offers are due October 31st, 2024.