Come check out this incredible investment opportunity! This thriving property operates as a cash-generating Airbnb with seven units, offering both long-term and short-term rental income. Unit #5 is leased as a long-term rental until May 2025, bringing in $2, 100 per month. The remaining units are set up for Airbnb, with no rental restrictions and a 3-night minimum stay, licensed by the State of Florida as a Hotel and Restaurant License and City of St Pete. The property includes two laundry rooms: one for guest and tenant use, with coin-operated machines, and another dedicated to the cleaning service. Bookings are managed directly by the owner, who is just booking with Airbnb and limits reservations to six months in advance.
The building has smart locks, internet network, small office with storage room to make easy access to cleaning crew to turnover the units. and security cameras in the foyer and halls provide peace of mind, while a professional cleaning service handles turnover. Units are completely furnished. Our Reviews are a 5 rating on location, cleaning and managing the property. Recent updates include upgraded electrical, plumbing, and a new roof (2017). This hassle-free investment offers significant income potential in an amazing location near vibrant Downtown St. Pete, recognized as one of the top dining destinations in the U. S. Enjoy proximity to the newly developed St. Pete Pier, as well as scenic bike and walking trails. With no rental restrictions, all furnishings included, and located in a NO FLOOD zone, this property is truly a turnkey investment. Plus, there’s plenty of private parking available for guests!
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Our Executive Mortgage Banker:
Our Insurance Division:
$2,200,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $1,760,000 | $1,760,000 | $1,760,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.125% | 6.125% | 6.000% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.443% | 6.258% | 6.201% |
Monthly Tax Payment | $693 | $693 | $693 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $10,694 | $10,694 | $14,852 |
Total Monthly Payment | $11,512 | $11,512 | $15,670 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.