$265,000

379 47th Avenue N #106

ST PETERSBURG FL, 33703

Description

Location, Location,Location with excellent passive income. 3 unit condo package in the 96 unit Parklane Condominium complex situated off 47th Ave. N. & 4th Street- the hottest, fastest growing commercial & retail thoroughfare in St. Pete. Package consists of three 1 BR/1 bath units - all currently rented. A CURRENT 8.0% Cap Rate at list price, with lots of upside potential- as all units have been renovated in the past 24 months, it is a matter of simply increasing rents when leases expire, or tenants move out, with just cleaning & touchup paint. The income of a triplex without any of the hassles or stress of active property management- since these are condos, all lawn care, pool maintenance, exterior paint, roofs, & water/sewer/trash are dealt with by association management company. Monthly condo fee covers it all, including free basic cable for tenants. Tenants pay electric. Close by are great restaurants, two Publix supermarkets, Stein Mart, CVS and Walgreens. Commonalities between all three units:- All have Central AC- All have 100 percent solid surface flooring (heavy duty laminate wood and tile) - NO Carpet- All have dishwashers in kitchen- All have LED lighting- All have solid stone (granite or marble) bathroom vanities- All are identical one bedroom floorplanThis is the perfect passive income or absentee owner investment, with roof, exterior paint, yard and pool maintenance the responsibility of the condo association. Easy to self manage. Rents are escalating at 10% or more in this popular St. Petersburg market. Buyer must be approved by condo association. Sellers are Realtor and his family.DO NOT DISTURB TENANTS

Details

MLS#U8090215
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1973
Days On Site149

Features

SQ Feet1,665
Property ViewGarden
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Area Information
StateFL
CountyPinellas
CityST PETERSBURG
Zip Code33703
Area33703 - St Pete
Listing VS Median (in 33703)
Price:
$265,000
low | high
Med:
$299,900
36.830188679245% of Average
SqFt:
1,665
low | high
Med:
1,358
68.438438438438% of Average
$ / SqFt:
$159
low | high
Med:
$221
11.246144441048% of Average
On Site:
149
low | high
Med:
57
100% of Average
Listing Updated: November 25, 2020 9:10:16 PM PST
Jim Blackmon LogoMLS Number: U8090215
Listing Provided By:
Jim Blackmon  of  COLDWELL BANKER RESIDENTIAL

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