5050 74th Street N Unit 1, Kenneth City, FL 33709
- $975,000
- 9
- BD
- 6
- BA
- 3,409
- SqFt
- List Price
- $975,000
- Status
- ACTIVE
- MLS#
- TB8303107
- Bedrooms
- 9
- Bathrooms
- 6
- Living Area
- 3,409
- Subdivision
- St. Pete
Property Description
1031 EXCHANGE SPECIAL, INVESTORS BRING YOUR BEST OFFERS!!! 10% CAP RATE!!! FOUNDATION REPAIRS COMPLETED!!! RECENTLY REMODELED!!!! ADDITIONAL WATERFRONT LOT INCLUDED!!! ZERO DAMAGE FROM EITHER HURRICANE!!! PHENOMENAL MULTI UNIT INVESTMENT OPPORTUNITY WITH 6 UNITS PRICED FOR AN IMMEDIATE SALE IN A GREAT ST. PETE NEIGHBORHOOD WITH 135Ft OF WATER FRONTAGE!!!! Fully occupied cash generating investment property and all tenants are on MONTH TO MONTH AGREEMENTS!!! 3 two bedrooms 1 bath 2 studio 1 one bed one bath, fully occupied currently, opportunity to renovate units and raise rents. CURRENT RENTS ARE AS FOLLOWS: $1,800, $1,800, $1,800, $1,200, $1,200 $1,150 Total: $8,950 per month and $107,400 total income per year!!! Expenses: $250 per month for water garbage pickup $94 per month, $4,128 annually. Taxes $6,800 annually and Insurance $4,103 annually, never flooded in the last 20 years! Total expenses annually : $15,031 Net annual profit roughly: $92,368!!! Opportunity for laundry in the back, no laundry onsite currently, could be income producing laundry building onsite to be built as ADU type building. Upgraded plumbing 4 years ago Upgraded electrical 4 years ago Air condition 4 years old Central air. 10% cap rate with opportunity to boost to 12-15% cap rate with rent raise and laundry area addition!!!
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Additional Information
- Year Built
- 1980
- Construction
- Stucco
- Living Area
- 3,409
- Acres
- 0.36
- Interior Features
- Ceiling Fans(s)
- Cooling
- Central Air
- Heating
- Central
- Exterior Features
- Lighting, Sidewalk
- Waterfront
- Yes
- Waterfront Description
- Canal - Saltwater, Canal Front
- Water
- Boatable Water
- Sewer
- Public Sewer
Listing courtesy of LPT REALTY.
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