Single-Family Home, Mediterranean - St Petersburg, FL
LOCATION, LOCATION, LOCATION, INCOME...AND floor plan and features! 8 unit SOLID CONCRETE BLOCK unique lofted two-story apartment building in the heart of Old Northeast St. Petersburg. One block from the waters of Coffee Pot Bayou - it gets no better! Built in 1925, it is an original Mediterranean style that is highly sought after and admired. Originally store fronts and offices, in the 1970s they were converted to loft style apartments. All the beauty of a vintage building with modern updates - central AC, updated wiring, BRAND NEW ROOF, new exterior lighting, new exterior paint, mature landscaping, plenty of off street parking for tenants and visitors, and prominent visibility definitely a LANDMARK PRIDE OF OWNERSHIP PROPERTY, that's easy to manage and generates wonderful cash flow with easy future upside potential. All 8 apartments are Two bedroom, one bath units of approximately 788 square feet. Each unit is almost identical in floor plan, with only the location of the staircase in each unit varying. The downstairs bedroom features his and her closets; the upstairs bedroom is lofted (railing in the front-no fourth wall) and has a large closet as well as a built in dresser. Upscale neighborhood. BEST NEIGHBORHOOD IN TOWN. One block from extremely desirable COFFEE POT BAYOU, two blocks to Coffee Pot Park and boat ramp, excellent school district, close to ALL shopping, dining and downtown. 8.2% PROJECTED CAPITALIZATION RATE.
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