INCREDIBLE CASH-FLOWING PROPERTY !!!!
*8-Unit Multifamily Investment Opportunity in Downtown St. Petersburg!*
*Location: * Just minutes from downtown St. Petersburg, this property offers unparalleled access to the city's vibrant amenities, attractions, and employment opportunities.
*Property Highlights: *
- 8 spacious units full updated in 2021/2022 (6 units 1 bed , 1 unit 2 beds , 1 unit 3 beds 2 baths)
- 11 bedrooms and 9 bathrooms.
- Gated front and back yards provide privacy and security
- On-site laundry room for added convenience
- Beautifully landscaped grounds with ample parking
- Strong income potential with most tenants under housing authority programs
-800sqft storage on site not cash-flowing at the moment (you can get extra money on renting it. $500/600 monthly even more if you split it) or convert it in extra bedrooms , it is already considered heated sqft.
*Financial Highlights: *
- Monthly income $13, 420
- Gross Annual Income: $161, 020+
- Net Operating Income (NOI): $123, 900+
- Cap Rate: 7. 3 %
- Average Rent per Unit: $1, 677
*Additional Features: *
- Individual unit meters for electricity and water
- Security cameras and motion-sensitive lighting
- Close proximity to public transportation, shopping, and dining
*Don't miss out on this exceptional opportunity to own a cash-flowing multifamily property in one of St. Petersburg's most growing neighborhoods next to Downtown!*
Our family of companies partner in delivering quality services in a one-stop-shopping environment. Together, we integrate the most comprehensive real estate, mortgage and insurance services available to fulfill your specific real estate needs.
Our family of companies offer our clients a new level of full-service real estate. We shall:
To learn more about our credentials, visit raveis.com today.
Our Executive Mortgage Banker:
Our Insurance Division:
$1,699,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
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 | $1,359,200 | $1,359,200 | $1,359,200 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.125% | 6.875% | 6.750% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.838% | 7.002% | 6.915% |
Monthly Tax Payment | $1,192 | $1,192 | $1,192 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $9,157 | $8,929 | $12,028 |
Total Monthly Payment | $10,474 | $10,246 | $13,345 |
* 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.