This website uses "cookies" to ensure you get the best experience on our website. Using this website means you're OK with it.
Note
19% CASH-ON-CASH RETURN! ST. PETERSBURG, FL - SINGLE-FAMILY PORTFOLIO FOR SALE!
Listing was updated at: 12/14/2018
Property Overview
Price/Rent PSF $ 59,999.00
Asset Type Multifamily
Trade Type Sale
SQ. FT. Available 6,878
Date Available 12/14/2018
Additional URL Link
Parking 12
Floors 1
Additional parameters Show
Search Demographic Data Explore financing options
Description

Location
SINGLE-FAMILY HOME PORTFOLIO IS LOCATED IN MULTIPLE LOCATIONS ACROSS BEAUTIFUL ST. PETERSBURG. THE HOMES ARE LOCATED AT THE FOLLOWING ADDRESSES:
1. 1325 37th Street S
2. 1628 43rd Street S
3. 1725 Prescott St S
4. 2234 5th St S
5. 3611 15th Ave S
6. 4523 20th Ave S

Sale
THIS AMAZING 6-UNIT SINGLE-FAMILY HOME PORTFOLIO IS A ONE OF A KIND INVESTMENT OPPORTUNITY TO ACQUIRE THE PERFECT INCOME-PRODUCING PROPERTY WITH MASSIVE UPSIDE. THIS PORTFOLIO CONSISTS OF 6 LARGE, SINGLE-FAMILY HOMES WITH AN AVERAGE OF 2.5 BEDROOMS PER HOME AND AN AVERAGE OF OVER 945 SQUARE FEET PER HOME! THE LARGE LAYOUTS WITH MULTIPLE BEDROOMS MAKE THESE UNITS EXTREMELY EASY TO RENT AS THERE IS HIGH DEMAND FOR RENTAL UNITS OF THIS SIZE IN ST. PETERSBURG, FL!

EACH HOME IS IN FANTASTIC CONDITION AND THE PORTFOLIO IS CURRENTLY 100% OCCUPIED WITH EXTREMELY BELOW MARKET RENTAL RATES IN-PLACE. WITH THE BUYER'S ABILITY TO INCREASE THE RENTAL RATES UPON TAKING OVER THE PROPERTY, THEY WILL BE ABLE TO OBTAIN A CASH-ON-CASH RETURN OF APPROXIMATELY 17% AND A CAP RATE OF OVER 10.5% IN 2019. IT IS ALMOST IMPOSSIBLE TO FIND THIS KIND OF RETURN IN THE CURRENT MARKET, ESPECIALLY WITH THE QUALITY OF EACH SINGLE-FAMILY HOME! THE LOW RENTAL RATES PROVIDE MASSIVE UPSIDE AS THE BUYER WILL BE ABLE TO INCREASE THE RENTS INSTANTLY AND INCREASE THEIR RETURN. EACH HOME IS CURRENTLY RENTING FOR APPROXIMATELY $150-$300 PER MONTH LESS THAN THE CURRENT MARKET RATE IN THE AREA. WITH THE QUALITY OF THESE UNITS BEING SIMILAR, OR IN SOME CASES, EVEN BETTER THAN THOSE CURRENTLY RENTING FOR THE MARKET RATE IN ST. PETERSBURG, FL, THE BUYER WILL EASILY BE ABLE TO BRING THESE RENTS UP TO MARKET RATE, IF NOT HIGHER!
THE BEST PART IS THE FACT THAT THE BUYER WILL HAVE LITTLE TO NO CAPEX EXPENSES UPON TAKING OVER THE PROPERTY, ALLOWING THEM TO KEEP THEIR EXPENSES DOWN WHILE INCREASING THEIR RETURN! EACH SINGLE-FAMILY HOME HAS BEEN RECENTLY RENOVATED IN THE PAST 3 YEARS. RECENT RENOVATIONS INCLUDE INTERIOR AND EXTERIOR PAINTING, NEW FLOORING, UPDATED KITCHEN APPLIANCES, AND BATHROOM UPDATES. ALL ROOFS, A/C, PLUMBING AND ELECTRICAL SYSTEMS ARE IN GOOD WORKING CONDITION AT PROPERTIES! THIS IS THE PERFECT INVESTMENT FOR SOMEONE LOOKING FOR A MASSIVE 17%+ CASH-ON-CASH RETURN WITH LITTLE TO NO MAINTENANCE REQUIRED.

FURTHERMORE, DUE TO THE QUALITY OF TENANTS, THIS PORTFOLIO MAY NOT EVEN REQUIRE A MANAGEMENT COMPANY. BECAUSE THE TENANTS PAY ON TIME, AND THERE ARE MINIMAL MAINTENANCE ISSUES, IT IS POSSIBLE FOR A BUYER TO SELF MANAGE THIS PROPERTY AND SAVE MONEY ON THIS EXPENSE. HOWEVER, IF THE BUYER WOULD WANT A MANAGEMENT COMPANY TO HELP RUN THE DAY TO DAY OPERATIONS, WE HAVE INCLUDED THIS EXPENSE IN THE PROPERTY FINANCIALS LOCATED ON PAGES 9-11. TENANTS ARE RESPONSIBLE FOR ALL UTILITY EXPENSES INCLUDING WATER AND SEWER AT THE PROPERTY!
THIS SINGLE FAMILY HOME PORTFOLIO IS LOCATED IN MULTIPLE LOCATIONS ACROSS BEAUTIFUL ST. PETERSBURG. THE HOMES ARE LOCATED AT THE FOLLOWING ADDRESSES:

1. 1325 37th Street S

2. 1628 43rd Street S

3. 1725 Prescott St S

4. 2234 5th St S

5. 3611 15th Ave S

6. 4523 20th Ave S

Location

Are you sure you want to delete your listing

We recommend you archive listings rather than delete them, for future reference.

Can we add this to our comparable database?

Are you sure you want to archive your listing

Can we add this to our comparable database?

Please type your email and we'll send you the mail with all pdfs attached. You can also download each pdf from the list below.

Are you sure you want to delete your account

Are you sure you want to delete your account

Are you sure you want to delete your account

You are not registered or logged in.

You must be registered or signed in for this action.