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Tariq Saleem

info@mntintl.com +1(844) 668-7589

$ 2,500,000

Est. payment -/mo

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121 18TH AVE N St Petersburg, FL 33704

3,180 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi-Family 5+

Listing Status Active

Purchase Type For Sale

Square Footage 3,180 sqft

Price per Sqft $786

Subdivision Barnard Erastus A S Rev Subjavascript:__Dopostback

MLS Listing ID TB8499673

HOA Y/N No

Year Built 1921

Annual Tax Amount $7,438

Lot Size 6,098 Sqft

Acres 0.14

Lot Dimensions 50x125

Property Sub-Type Multi-Family 5+

Source Stellar MLS

Property Description

Melrose Place Apartments is a unique 7 unit multifamily property situated among luxury homes in Historic Old Northeast St Petersburg, Florida. Living here means tenants are minutes to the iconic “Beach Drive Scene”, St Pete's de facto hub for an expansive variety of fine dining and entertainment, nightlife, and chic galleries. Popular for its proximity to downtown, expansive waterfront parks, leafy redbrick avenues, and stately homes, exquisite Historic Old Northeast is considered by many St Pete's most affluent and thought after neighborhood. Nearby waterfront Vinoy Park on Tampa Bay offers acres of lush green space, a sports and aquatic complex, fitness trails, a dog park, and beach volleyball. The city's multitude of attractions include the New Pete Pier, Watch Discovery Center and Museum of History, to name a few. Each of the Melrose Place one-bedroom one-bath apartments, averaging approximately 600 sq ft, recently underwent a full gut-rehab down to the studs. Tenants sign traditional 12-month leases. One apartment is partially furnished. Based on the Seller's current income and taking into consideration the Buyer's projected year-one expenses, which do reflect the Appraiser's estimated Real Estate Tax increase, the current Price represents approximately a 4 Cap. All utilities, as well as Internet / WiFi connectivity, are paid by the Owner via master meters with full reimbursement for monthly charge to tenants. Subject to all other terms and conditions, Owner will consider Seller Financing and providing ongoing Management Services. Acquisition of Melrose Place is ideally suited for discerning investors seeking to establish a foothold in Historic Old Northeast. Investors interested in acquiring a high-quality, turnkey, generational family asset to satisfy a pending 1031 Exchange, or expand and enhance a portfolio of high-quality real estate investments will want to tour and be compelled to acquire Melrose Place Apartments.

Location

State FL

County Pinellas

Community Barnard Erastus A S Rev Subjavascript:__Dopostback

Area 33704 - St Pete/Euclid

Direction N

Interior

Heating Central, Ductless

Cooling Central Air, Wall/Window Unit(s)

Exterior

Utilities Available Public, Water Connected

Roof Type Shingle

Building

Entry Level Two

Foundation Slab

Lot Size Range 0 to less than 1/4

Sewer Public Sewer

Water Public

Structure Type Block,Stucco,Frame

New Construction false

Others

Ownership Fee Simple

Acceptable Financing Cash, Owner Financing

Listing Terms Cash, Owner Financing

Special Listing Condition None

Virtual Tour https://www.propertypanorama.com/instaview/stellar/TB8499673

Listed by Kyle Collins RE/MAX ACTION FIRST OF FLORIDA

NEARBY SCHOOLS & PROPERTIES

Tariq Saleem

Broker | BK3071788

+1(844) 668-7589

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Orlando, FL

Tariq Saleem

121 18TH AVE N St Petersburg, FL 33704

Key Details

Location

Interior

Exterior

Building

Others

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