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Key Details
Sold Price $898,000
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Square Footage 3,800 sqft
Price per Sqft $236
Subdivision Arcadian Heights
MLS Listing ID TB8339945
Sold Date 06/06/25
HOA Y/N No
Year Built 1925
Annual Tax Amount $19,022
Lot Size 6,534 Sqft
Acres 0.15
Property Sub-Type Multi Family
Source Stellar MLS
Property Description
Buyer financing fell through, give us a call to tour. Management in Place to assist with the transition!
Welcome to The Urban Standard! An urban oasis located in St. Pete. The unique property features a mixture of 6 short and mid term rentals, and 3 long term leases. Ideally situated near bus lines, shopping, restaurants, and entertainment in the heart of St. Petersburg, this three-income-producing property in Pinellas County has endless value-add opportunities! With diverse rental options, plus located in unincorporated Pinellas County, this property experiences very low vacancy. The property consists of two buildings: a four unit at the front and a four unit at the back, with two additional studios. A shared community garden space, plus a dedicated dog park, make up this professionally managed complex. The property estimates a Net Operating Income (NOI) of $60,884.83 for 2024, with a CAP rate of 6.1% and the Pro Forma numbers for 2025 with a CAP rate of 9.6%, making it the best buy on the market. Sold with 6 fully furnished units, it is ready to go for the next owner.
Location
State FL
County Pinellas
Community Arcadian Heights
Area 33714 - St Pete
Zoning R-4
Direction N
Interior
Interior Features Ceiling Fans(s), Other
Heating Ductless
Cooling Wall/Window Unit(s)
Fireplace false
Appliance Microwave, Range, Refrigerator
Laundry None
Exterior
Exterior Feature Courtyard, Other, Storage
Utilities Available Public
Roof Type Shingle
Garage false
Private Pool No
Building
Foundation Pillar/Post/Pier
Lot Size Range 0 to less than 1/4
Sewer Public Sewer
Water Public
Structure Type Other,Stucco
New Construction false
Schools
Elementary Schools Lealman Avenue Elementary-Pn
Middle Schools Meadowlawn Middle-Pn
High Schools Northeast High-Pn
Others
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash, Conventional, FHA, Other, VA Loan
Listing Terms Cash, Conventional, FHA, Other, VA Loan
Special Listing Condition None
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Bought with FLORIDA EXECUTIVE REALTY