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4200 1st Street N, St Petersburg, FL 33703

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For Sale

$2,575,000

13 beds • 8,000 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • Newly Listed
    Time on Century 21

  • $321.88
    Price per square foot

  • Over 50 Years Old
    Age

Explore this Property

PRICE REDUCED $318,500 !!! CAP RATE NOW 6.77 % 10 unit solid concrete block apartment building in Northeast St. Pete. This building did not suffer any flooding, or adverse effects whatsoever from last years storms! Two story building with (3) 2 bedroom, 2 bath units, (7) 1 bedroom, 1 bath units and a dedicated laundry room. Building was built in 1972, and completely top to bottom to the studs renovated in 2017. Each unit has the same finishes: solid wood kitchen cabinetry featuring built in wine rack, granite countertops with undermount kitchen sink, four piece stainless steel appliance suite, central AC, 100 percent hurricane impact windows and doors, subway tile shower tile, with cast iron Kohler soaking tubs. Every plumbing unit in the building (toilets, tubs, shower valves, sink faucets) is Kohler, every light fixture LED, all interior doors in the building were replaced, all water heaters were replaced, as was roof. Walkways were redone with long lasting commercial coating. Added bonus: professionally refinished terrazzo flooring throughout the building; no expense ever for flooring between tenants! Historical vacancy since renovation is virtually non existent. Northeast park is one of the most desirable neighborhoods in St. Petersburg, close to dining and restaurants, and this is a completely modernized building. Variations in rent between units of the same size are not due to quality of finishes (since all units were remodeled at the same time); but rather how long a tenant has been in the building. The lower the rent, the long the tenure. Moving forward, the value add is simply increasing rents to make them uniform when owner so chooses.
MLS# TB8406946

Courtesy Of Coldwell Banker

(727) 822-9111

Property Features

  • Age
    Over 50 Years Old
  • Amenities
    Ceiling Fan
  • Appliances
    Dishwasher, Microwave, Range, Refrigerator, Washer
  • Architecture Style
    Other
  • Exterior Type
    Concrete, Stucco
  • Lot Size
    0.37 Acres

Map and Directions

Directions to 4200 1st Street N, St Petersburg, FL 33703

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Monthly Payment Breakdown

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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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