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Gelfand Realty Miami Properties - Multi Family

9001 DR MARTIN LUTHER KING JR N, ST PETERSBURG, FL 33702

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Multi Family - GEORGIAN TERRACE

9001 DR MARTIN LUTHER KING JR N, ST PETERSBURG, FL 33702

Sold Price$620,000 Asking Price$649,900

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  • Days on market:

    50 day(s)
  • Original Price:

    $749,000
  • Price per sqft:

    $160.39
  • Tax Legal Description:

    GEORGIAN TERRACE LOTS 46,47,48 AND 8FT VAC ALLEY N OF LOT 46
  • Tax Year:

    2020
  • Property Type:

    Multi Family
  • Construction Type:

    Concrete
  • Roof:

    Shingle
  • Cooling Description:

    Central Air
  • Heating Description:

    Central
  • Floor Description:

    VinylLinoleum
  • Interior Features:

    Living Room/Dining Room Combo
  • Exterior Features:

    Fenced
  • Special Listing Conditions:

    None

Description

$649,900 • living size area 4052 sqft

Daycare that can be easily converted to 6plex assisted living facility. zoning allows this to be a multifamily and the kitchens and bathrooms are in place for it to be a multifamily. potential rent for 6plex is $94,000 a year. this is only 9 min away from st pete downtown and 15 min from top rated usa beaches. this is a two building property with a large lot (over 17,000+ sq ft.) and plenty of parking space. there are two 2/1s and four 1/1s, each with washer and dryer hook ups. the property is block and one level with a garden/courtyard in the center. build a dog park or use it as additional parking or you can even tear the building down and build a two story property, the opportunities are endless. duplexes down the street are selling for upwards of 300k + (google 781 73rd, 470 93rd and 486 88th- lots of comparables for sales and rents). 2/1s are expected to be rented for $1,250-$1,300 and the 1/1s rent market rates are $1,100. tampa bay is a hot market - for the second month in a row, the tampa-st. petersburg-clearwater metro area had the second best job index, according to the small business employment watch by paychex. st. petersburg has seen the job market increase by 2.3% over the last year. future job growth over the next ten years is predicted to be 42.0%, which is higher than the us average of 33.5% (source- bestplaces.net)

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