Contacts

David Rosenthal

Grimaldi Commercial Realty Corp.

Property Details

Property Type Multi-Family
Property Size 15,861 SF
Units 24
Lot Size 0.88 Acre
Additional Rent Contact for pricing
Parking Spaces Avail. 50
Property Tenancy Multi-Tenant
Year Built 1988
Year Renovated 2022
Date Updated Dec 11, 2024

24-UNIT CONDO PORTFOLIO ACROSS BEAUTIFUL ST. PETERSBURG AND CLEARWATER, FL. TWO OF THE HOTTEST MARKETS IN THE COUNTRY RIGHT NOW!

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Highlights

24-UNIT CONDO PORTFOLIO ACROSS ST.PETE/CLEARWATER AND LARGO, FL!
CLASS A UNITS IN CONDO BUILDINGS WITH AMENITIES SUCH AS: POOLS, GYM, CLUBHOUSES, TENNIS COURTS, DINING AREAS AND MUCH MORE!
AMAZING SELLER FINANCING TERMS AVAILABLE: DOWN PAYMENT: $1,000,000
(YEAR 1 IR: 6%), (YEAR 2 IR: 7%), (YEAR 3 IR: 8%)
INTEREST-ONLY PAYMENTS, 3-YEAR BALLOON!
10% CASH-ON-CASH RETURN IN PLACE!
7.6% CAP RATE IN 2025!
12% CASH-ON-CASH RETURN IN 2025! 8% CAP RATE IN 2026!
12.5% CASH-ON-CASH RETURN IN 2026!
SEVERELY UNDER-MARKET RENTAL RATES IN PLACE, GIVING THE BUYER MASSIVE UPSIDE!
ALL UNITS HAVE BEEN UPDATED IN THE PAST 5 YEARS AND ARE IN FANTASTIC CONDITION!
ABILITY TO INCREASE THE RENTAL RATES IMMEDIATELY WITHOUT HAVING TO SPEND MONEY ON CAPEX.
EACH PROPERTY HAS AN HOA THAT IS RESPONSIBLE FOR WATER, EXTERIOR BUILDING MAINTENANCE, PROPERTY INSURANCE, ROOF REPAIRS, COMMON AREA MAINTENANCE, MGMT, AND MUCH MORE!

Attachments

Offering Memorandum (PDF) opens in new window

Getting around

28/100
Walk Score ®
27/100
Transit Score ®
34/100
Bike Score ®

Powered by Walk Score ®

City Saint Petersburg, FL
Neighborhood Brighton Bay
Zip Code 33716
Market Tampa St Petersburg Clearwater

Points of Interest

Rental Car Center

8.51 miles
Airside F

9.15 miles
Airside E

9.29 miles
Airside A

9.30 miles
Main Terminal

9.38 miles
Airside C

9.64 miles

7-Eleven

0.82 miles
Mobil

0.84 miles
BP

1.12 miles
RaceTrac

1.14 miles
4th Street Gas

1.55 miles
Wawa

1.70 miles
Tesla Supercharger

3.44 miles
ChargePoint

6.36 miles
J1772 Charger

7.02 miles
Nova Charge

7.05 miles

Picnic Island Parking Area 2

5.10 miles
Picnic Island Parking Area 4

5.10 miles
Picnic Island Parking Space 1

5.10 miles
Picnic Island Canoe Car Parking

5.13 miles
Picnic Island Parking Area 3

5.13 miles
Gandy Park South Parking

5.65 miles
A.L. Palonis Park Parking

5.79 miles
22nd Avenue Park & Ride

5.94 miles
7th Avenue Parking Garage

6.75 miles
Jackson Street Parking Garage

6.78 miles

Sahara Motel Inc

0.88 miles
Comfort Inn & Suites Northeast - Gateway

1.44 miles
Hilton Saint Petersburg Carillon Park

2.32 miles
Homewood Suites by Hilton

2.38 miles
Saint Petersburg Marriott Clearwater

2.46 miles
King’s Rest Motel 2

2.46 miles
King’s Rest Motel

2.47 miles
The Karol Hotel, Saint Petersburg Clearwater

2.68 miles
Palms Motel

2.85 miles
El Patio Motel

2.86 miles

Winn-Dixie

0.51 miles
Publix

1.01 miles
Target

2.08 miles
TJ Maxx

2.10 miles
Bealls

2.21 miles
Big Lots

3.28 miles
Bealls Outlet

3.29 miles
Rutland Plaza

3.29 miles
Pinch a Penny

3.41 miles
Walmart Supercenter

3.83 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.