240 20th Ave - Apartments FOR SALE


Saint Petersburg, FL 33705- Old Southeast
$850,000 USD
727-619-4936
240 20th Ave, Saint Petersburg, FL for Sale
$850,000 USD
Apartments - FOR SALE
1/30
null | Request Cap Rate

240 20th Ave
Saint Petersburg, FL 33705
Old Southeast


HIGHLIGHTS

  • Turnkey investment requiring minimal maintenance expenses
  • Long term tenants in place paying market rents
  • Prime location within walking distance to Lassing Park, and easy biking/driving access to Downtown St. Pete, the Pier, USF St. Pete, and The Trop
  • Two studios and two 1/1’s with ample storage, parking, alley access, and manicured common area
  • Units have been meticulously maintained, with a mix of tile floors and refurbished hard wood
  • Crawl space under each building grants easy access to plumbing

OVERVIEW

Bridgewater Commercial Real Estate is pleased to present 240 20th Ave S for sale. This quadruplex in the heart of the Old Southeast consists of two buildings with two units each, ample storage space and parking, a well-manicured front lawn and common area, and street and ally access. The front building holds two 1/1’s, each with a separate entrance, and the back building holds two very large storage spaces on the first floor and two studios on the second. The back building grants access to each unit via two outdoor staircases, and a shared indoor staircase. All units have been well maintained and are rented to long term tenants at market rates, reducing the need to increase rents or negotiate new leases. Each unit has been meticulously well maintained, with a mix of refurbished hardwood floors and tile. The roof of the front building was replaced in 2023, and the pluming has been maintained and replaced as needed. The property also sits on the brick lined streets of the Old Southeast, a quiet, upscale neighborhood just south of downtown, and within an easy walk to Lassing Park – a public waterfront park and beach. It is also only two miles from Downtown St. Pete, a mile from USF St Pete Campus, and two miles from Tropicana Field. Nearby development includes the 4th Street Townhomes (10 residential units), Lake Maggiore Apartments (330 residential units), Coquina Key Plaza (456 residential units and 20,817 SF of retail), and the new Arc Invest headquarters that is kicking off St. Pete’s new Innovation District along 4th Street. With long term tenants in place, well maintained units, and market rents, this is a true turn-key St. Pete Multifamily investment.

FOR SALE DETAILS

PRICE

$850,000 USD

PRICE/SF

$382 USD /SF

# OF UNITS

4

PRICE/UNIT

$212,500

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1939

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,534 SF

ZONING

-

APN/PARCEL ID

30-31-17-77184-009-0140

ASK ABOUT THIS PROPERTY

Davis NunneleyBridgewater Commercial Real EstateMore Info
727-619-4936

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Davis NunneleyBridgewater Commercial Real EstateMore Info
727-619-4936

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.