$499,900 • living size area 4985 sqft

Investors dream! this property consists of 2 parcels, on approximately 1 acre of land. there is an apartment building with 6, 1 bedroom 1 bath units plus a separate 3 bedroom 1.5 bath single family home. the beautiful 1817 sq ft home is ready to be rented or new owners can move right in. it has central heat and air, a large family room and a wood burning fireplace. the carport can be easily converted to an enclosed garage and has an enclosed laundry room with washer and dryer hook up and sink. the apartments are cozy and quaint and very well taken care of. each unit is 528 sq. ft. of solid block construction and each has its own separate electric meter. they are currently rented out for $550 a month, but could be raised to $650 (market rent) with each new tenant. including the house being rented out for $1575 (market rent) a month, that is $58,800 annual gross income. total expenses of $19,695 (3 yr. avg.) which makes the annual net operating income of $39,105.00 and approximate cap rate of .78%. when apartments go to a market rent of $650 the cap rate will be over 9%. please do not disturb tenants. property is being sold as 1 property, although it does have 2 separate parcels. buyers lender may have 2 separate closings as long as they close simultaneously, if buyer is not paying cash.

Multi Family - ST PETERSBURG

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