9 Beds
7 Baths
3,475 SqFt
9 Beds
7 Baths
3,475 SqFt
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 3,475 sqft
Price per Sqft $428
Subdivision Thorntons Add
MLS Listing ID TB8523860
Bedrooms 9
HOA Y/N No
Year Built 1925
Annual Tax Amount $12,057
Lot Size 6,969 Sqft
Acres 0.16
Lot Dimensions 56x127
Property Sub-Type Quadruplex
Source Stellar MLS
Property Description
exquisite Historic Old Northeast, Beach Drive is the de facto hub for an expansive variety of popular fine dining and entertainment, sophisticated nightlife, chic galleries, superb people watching, and expansive waterfront parks. Nearby waterfront Vinoy Park on Tampa Bay offers acres of lush green space, a sports and aquatic complex, fitness trails, a dog park, and beach volleyball. The city's multitude of attractions include the New St. Pete Pier, Watch Discovery Center and Museum of History, to name a few. With typically more than 360 days of sunshine each year, plenty of trails to explore, and a work-life balance that happens to include beach days, it's no wonder the city of St. Petersburg was named the best place to live in Florida according Livability. In addition to its long-standing record for consecutive days
of sunshine, among the city's most prized amenities is its natural beauty with more than 200 miles of shoreline along Tampa Bay to the Gulf, Boca Ciega Bay and intercoastal waterways. Throughout the year there are more than 1,000 special events and festivals ranging from yachting, farmers markets, music festivals, sporting events, concerts and a variety of cultural venues. The 335 On Fifth Avenue is currently operated with four traditional 12-month lease units. Three units are offered on a short-term basis with typical duration of three- to four-night stays. Based on the projected year-one stabilized income and Buyer's projected year-one expenses, which do reflect the Appraiser's estimated Real Estate Tax increase and include normal and customary property management fees, the $1,490,00 Offer Price represents approximately a 12% Cap Rate. Without adjusting for the pro-forma income increase, yet still applying the Buyer's projected year-one expense increases, the Cap Rate is approximately 7.2%. The 335 On Fifth Avenue is ideally suited for discerning investors seeking to establish a foothold in dynamic downtown St Petersburg. Investors interested in acquiring a high-quality, turnkey, generational family asset to satisfy a pending 1031 Exchange, or expand and enhance a portfolio of high-quality real estate investments will want to tour and be compelled to acquire 335 On Fifth Avenue. Please contact the Listing Agent for financial details, additional information regarding the Property and Offering, and to schedule a tour of the Property.
Location
State FL
County Pinellas
Community Thorntons Add
Area 33701 - St Pete
Direction N
Interior
Interior Features Kitchen/Family Room Combo, Living Room/Dining Room Combo, Open Floorplan
Heating Electric
Cooling Mini-Split Unit(s)
Flooring Vinyl
Fireplace false
Laundry None
Exterior
Exterior Feature Courtyard, Outdoor Grill
Parking Features Garage Faces Rear, Off Street, On Street
Garage Spaces 2.0
Utilities Available Cable Available, Electricity Connected, Public, Sewer Connected, Water Connected
Roof Type Shingle
Attached Garage false
Garage true
Private Pool No
Building
Lot Description Near Public Transit, Private
Entry Level Two
Foundation Crawlspace
Lot Size Range 0 to less than 1/4
Sewer Public Sewer
Water Public
Structure Type Vinyl Siding,Frame
New Construction false
Others
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition None
Virtual Tour https://www.propertypanorama.com/instaview/stellar/TB8523860
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