Charming 4-Unit Multi-Family Property in Uptown St. Pete Producing $6, 082 monthly. Step into a prime investment opportunity with this meticulously renovated 2-story multi-family property in the sought-after Uptown neighborhood of St. Petersburg. This charming building blends historic elegance with modern amenities. Fully leased and generating $6, 082 monthly, it promises consistent cash flow and long-term appreciation potential. This property offers an excellent ROI with potential for rent increases. As a turnkey investment, all four units are fully renovated with modern finishes, ensuring minimal immediate capital expenditure. Each unit has its own electric meter, simplifying management and making utility costs predictable. Located just minutes from Downtown St. Pete’s vibrant dining, shopping, and entertainment, the neighborhood boasts high rental demand, ensuring low vacancy rates and stable income. Unit 1 is a 1-bedroom, 1-bathroom unit renting for $1, 700 per month with 9 months remaining on the lease. Unit 2, on the second floor, is a studio with a separate kitchen and private bathroom, currently renting for $1, 507 per month, with an expected renewal at $1, 600 per month. Unit 3, also on the second floor, is a studio with a private bathroom, renting for $1, 600 per month with 8 months remaining. Unit 4 is a ground-floor studio with a full kitchen and private bathroom, renting for $1, 275 per month, also with 8 months remaining. With individual electric meters and modern amenities, property management is streamlined. St. Pete’s growing real estate market promises value appreciation, making this property an attractive long-term investment. Financially, the property an annual gross income of $72, 984. With anticipated rent adjustments, the annual income can increase further, enhancing the investment’s profitability. All financial details and lease information provided are accurate as of the listing date. Prospective buyers are encouraged to verify all details and conduct thorough due diligence. Seize this lucrative investment opportunity today and secure your stake in St. Pete’s thriving real estate market!!!
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William Raveis Mortgage, LLC
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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 | $783,200 | $783,200 | $783,200 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.750% | 6.625% | 6.750% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.545% | 6.748% | 6.932% |
Monthly Tax Payment | $413 | $413 | $413 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $5,080 | $5,015 | $6,931 |
Total Monthly Payment | $5,585 | $5,520 | $7,436 |
* 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.