5050 74TH Street N, Unit 1
Property Description
1031 EXCHANGE SPECIAL, INVESTORS BRING YOUR BEST OFFERS!!! FOUNDATION REPAIRS COMPLETED!!! RECENTLY REMODELED!!!! ADDITIONAL WATERFRONT LOT INCLUDED!!! ZERO DAMAGE FROM EITHER HURRICANE!!! PHENOMENAL MULTI UNIT INVESTMENT OPPORTUNITY WITH 6 UNITS PRICED FOR AN IMMEDIATE SALE IN A GREAT ST. PETE NEIGHBORHOOD WITH 135Ft OF WATER FRONTAGE!!!! Fully occupied cash generating investment property and all tenants are on MONTH TO MONTH AGREEMENTS!!! 3 two bedrooms 1 bath 2 studio 1 one bed one bath, fully occupied currently, opportunity to renovate units and raise rents. CURRENT RENTS ARE AS FOLLOWS: $1,800, $1,800, $1,800, $1,200, $1,200 $1,150 Total: $8,950 per month and $107,400 total income per year!!! Expenses: $250 per month for water garbage pickup $94 per month, $4,128 annually. Taxes $6,800 annually and Insurance $4,103 annually, never flooded in the last 20 years! Total expenses annually : $15,031 Net annual profit roughly: $92,368!!! Opportunity for laundry in the back, no laundry onsite currently, could be income producing laundry building onsite to be built as ADU type building. Upgraded plumbing 4 years ago Upgraded electrical 4 years ago Air condition 4 years old Central air. 10% cap rate with opportunity to boost to 12-15% cap rate with rent raise and laundry area addition!!!
Broker Details
LPT Realty, LLC. (877) 366-2213
MLS ID: 260053540 State License Number: 3550258
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $975,000 |
| No. of Units: | 6 |
| Year Built: | 1980 |
| Lot Size: | 3,409.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $162,500 |
| Property Website | Click Here |
| Number of Bedrooms: | 9 |
| Number of Bathrooms: | 6 |
ID: 3yd-MFRMLSFL-TB8303107
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