*NO FLOODING OR DAMAGE FROM HELENE OR MILTON**
**NEW ROOF**
10-unit income-producing property located in the heart of the newly invigorated Skyway Marina District in St Petersburg, Florida. Uniquely subdivided with individually parceled units for easy CONDO CONVERSION.
This well-maintained concrete block multifamily has huge upside potential with current rents below market. 6 of the 10 units have been updated within the past 2 years. Comprised of (8)1 bedroom/1 bath and (2) 2 bedroom/2 bath units nicely appointed and well maintained. Each unit has a private covered patio space facing westward, perfect for taking in the coastal breeze while watching the sunset over the Pinellas Trail.
6 units are on month-to-month leases. Add value by stabilizing rents or selling individually. Freshly painted exterior. The newly RENOVATED detached laundry provides an additional income stream opportunity. 10 tandem off-street parking spots for tenants and additional spaces for guests. Units are individually metered with each tenant paying for their electricity. Owner currently pays water/sewer/garbage, but verbiage in the lease allows this expense to be passed through to tenants.
First-class walkability. The Pinellas Trail runs directly in front of the building. Situated adjacent to multi-million dollar waterfront neighborhoods. Within blocks of area favorites: Starbucks, Tiki Docks, Maximo Marina, and Publix. The Skyway Marina District has been experiencing rapid expansion and change with more development on the way, including a new Sprouts Farmers Market. Easy access to I-275, US19, Eckerd College, DT St Pete, and area beaches.
*DO NOT DISTURB TENANTS*DO NOT WALK PROPERTY* Contact Ashley Frazier for Offering Memorandum and Financials.
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$2,000,000
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 | $1,600,000 | $1,600,000 | $1,600,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.750% | 6.750% | 6.750% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.321% | 6.826% | 6.936% |
Monthly Tax Payment | $872 | $872 | $872 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $10,378 | $10,378 | $14,159 |
Total Monthly Payment | $11,375 | $11,375 | $15,156 |
* 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.