¡PRICE NOW REDUCED! Unique Opportunity in Tarpon Springs!, Ready for long-term rentals. This apartment building is a renovated 12-unit multifamily building at 218 N Pinellas Avenue in the heart of historic Tarpon Springs, Florida. The building offers a mix of: - Three two-bed/one-bath units - Six one-bed/one-bath units - Two studios, and one management office suite. The renovations includes: -Renovations on walls, ceilings, etc -new flooring tile and vinyl -fresh paint -modern kitchen cabinets with quartz countertops, -New appliances (new ranges, new fridges) -New bathrooms, also all bathtub were porcelainized -Reinforced structure, concrete columns. -New asphalt parking spaces Additional improvements include: New secure doors, durable and resistant flooring, a modern electrical system with LED lighting, efficient gas and plumbing systems, new water heaters. This property has not been affected by any flood or hurricane damage, ensuring it's properly structured and supported. For investors, 218 N Pinellas Avenue represents an exceptional opportunity. It requires minimal maintenance while offering solid rental income potential. With a historically high occupancy rate and a projected 9.39% return on investment. Financing: 1. There is no owner financing available. 2. There is no outstanding debt on the building, no mortgages, etc Maintenance and Repairs: 1. There's no deferred maintenance. 2. There are no concessions, overdue accounts, or payment issues. Pro- forma Estimated income: Apt 1: 2 bed/1 bath - Estimate rent: $ 1700 Apt 2: 1 bed/1 bath - Estimate rent: $ 1300 Apt 3: 1 bed/1 bath - Estimate rent:$ 1300 Apt 4: 1 bed/1 bath - Estimate rent:$ 1300 Apt 5: 1 Studio/1 bath - Estimate rent:$ 1000 Apt 6: 1 bed/1 bath - Estimate rent:$ 1300 Apt 7: Studio/ 1 bath - Estimate rent:$ 1000 Apt 8: Office - Estimate rent:$ 500 Apt 21: 2 bed/1 bath - Estimate rent:$ 1500 Apt 22: 2 bed/1 bath - Estimate rent:$ 1500 Apt 23: 1 bed/1 bath - Estimate rent:$ 1400 Apt 24: 1 bed/1 bath - Estimate rent:$ 1400 Potential Monthly Income: $ 15,200 Gross Annual Income: $ 182,400 Expenses: Property Tax $15,926 Management 8%= $14,592 Repair & Maintenance: $3,000 Insurance (No winds coverage):$ 8,930 Net Operating Income: $139,952 Highlights: EXCELLENT LOCATION DOWNTOWN PROPERTY!!! 218 N Pinellas Avenue is a short walk to the scenic Anclote River, local parks, and stunning beaches like Fred Howard Park Beach (9 minutes from the property) and from Sunset Beach (7 minutes. Amid the Pinellas Trail Corridor District in a lively tourist area, 218 N Pinellas Avenue is positioned for future redevelopment opportunities. Employment centers like Florida Hospital North Pinellas and St. Pete College is within 2 miles, and the nearby Walmart Supercenter offers additional convenience for residents. Smooth access to major highways such as US Highway 19 and Interstate 275 makes commuting and travel a breeze. Live in the Center of Action: - Walking distance to shopping centers (City Plaza, Sponge Exchange, Tarpon Plaza) - Close proximity to natural parks (Anclote Key Preserve, Brooker Creek Preserve, John Chesnut Sr. Park) - Near renowned hospitals (AdventHealth, Morton Plant, Medical Center of Trinity) Connectivity and Convenience: - Walk Score: 85 (highly walkable area) - Easy access to public transportation (score 32) - Bike infrastructure (bike score 68) Education: Colleges & Universities: St Petersburg, Tarpon Springs Drive: 6 min 3.1 mi St Petersburg, Clearwater Drive: 21 min 13.9 mi Pasco-Hernando C.C., West Drive:28 min 14.5 mi St Petersburg College., EpiCenter Drive:29 min 19.7 mi 218 N Pinellas Ave is within 6 minutes or 3.1 miles from St Petersburg, Tarpon Springs. It is also near St Petersburg, Clearwater and Pasco-Hernando C.C., West. Schools: -Tarpon Springs High School Public High School -Tarpon Springs Elementary School Public Elementary School -Tarpon Springs Middle School Public Middle School Transportation options available in Tarpon Springs: -Include Skyconnect Economy Parking Station, located 22.7 miles from 218 N Pinellas Ave. 218 N Pinellas Ave is near Tampa International, located 23.5 miles or 41 minutes away, and St Pete-Clearwater International, located 23.7 miles or 41 minutes away. Shopping Centers: City Plaza: Walk: 7 min 0.4 mi Sponge Exchange: Walk: 11 min 0.6 mi Tarpon Plaza: Walk: 11 min 0.6 mi 218 N Pinellas Ave has 3 shopping centers within 0.6 mile, which is about a 11-minute walk. The miles and minutes will be for the farthest away property. Parks and Recreation: Anclote Key Preserve State Park: Drive: 13 min 3.9 mi Brooker Creek Preserve: Drive: 15 min 7.2 mi John Chesnut Sr. Park: Drive: 14 min 8.4 mi Honeymoon Island State Park: Drive: 25 min 11.2 mi Caladesi Island State Park: Drive: 39 min 18.4 mi 218 N Pinellas Ave has 5 parks within 18.4 miles, including Anclote Key Preserve State Park, Brooker Creek Preserve, and John Chesnut Sr. Park. Hospitals: AdventHealth North Pinellas Walk: 20 min 1.1 mi Morton Plant North Bay Hospital Drive: 16 min 8.5 mi Medical Center of Trinity Drive: 17 min 10.1 mi 218 N Pinellas Ave has 3 hospitals within 10.1 miles, the nearest is AdventHealth North Pinellas which is 1.1 miles away and a 20 minute walk. Military Bases: Governmental U.S. Coast Guard Drive: 31 min 19.6 mi MacDill Air Force Base Drive: 59 min 32.9 mi 218 N Pinellas Ave is 19.6 miles from the Governmental U.S. Coast Guard, and is convenient to other military bases, including MacDill Air Force Base.