PENDING-16th Ave S, St. Petersburg FL 33701

Triplex – Beds: 5    Bath: 3    SqFt: 1918

ARV: $275k+    Repairs: $80k    Rent: $2500/mo+

$80,000+cc 

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Off Market Triplex in St. Petersburg! Come quick and take a look at this amazing opportunity to buy fix and sell or buy fix and hold this triplex that near Roser Park and the hottest district in St Pete. This triplex is made up of a 3/1 home and then a 2 story building in the back that has two 1/1 units. Renovate this property throughout to achieve an ARV of $275k or more. Once renovated the 3/1 should rent for $1,100-$1200/mo and the 1/1s $700-$750/mo. If buyer were to hold this property after renovations the ROI is over 13.5% with over $90k in equity. Taxes are $1381.53.

Comps:

  • 330 20TH AVE S – Fourplex – One 2/1 & Three 1/1s – 2093 sqft, Built 1948 – Sold for $305k (38 DOM) – Very Dated, Needs work
  • 1820 3RD ST S – Triplex – Two 2/1s & One 1/1 – 2178 sqft, Built 1956 – Pending at $289.9k (5 DOM) – Clean, Needs little work
  • 127 17th Ave S – Triplex – Two 2/1s & One 1/1 – 2276 sqft, Built 1920 – Sold for $299.9k on 11/16/2018
  • 878 10th Ave S – Triplex – 1994 sqft – Sold for $294,500 on 3/13/2018

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