Income producing Property Located in the highly desirable Old Northeast, this imposing historic property offers a rare opportunity to own a residence that exudes timeless elegance while providing substantial income potential. The main residence, a stately single-family home, features three spacious bedrooms, a bright Florida room, and two full baths, all enriched with period details. The impressive wraparound front porch, adorned with grand Craftsman columns, sets a distinguished tone upon arrival, capturing the essence of the home’s legacy. Upon entering, you will be transported to an era of refined craftsmanship. Gleaming heart pine hardwood floors extend throughout the home, while the dining room is crowned with beamed ceilings and accented by custom shelving that speaks to the home’s storied past. A sweeping open staircase gracefully connects the living spaces, and large windows flood each room with natural light, creating a bright and airy atmosphere. The kitchen combines historic charm with modern conveniences, featuring granite countertops, tall cabinets, a gas cooktop, a built-in oven with a warming drawer, recessed lighting, and a pantry—a space that is both functional and stylish. The appeal of this property extends beyond the main residence, offering significant income-generating potential. The two additional units include a charming one-bedroom, one-bathroom apartment on the first floor, with a newly constructed Florida room with impact windows and a private entrance, and a spacious second-floor studio with a sunny porch. These units offer exceptional opportunities to generate rental income, serve as guest accommodations, or even function as a private home office. Additionally, the property includes a two-car garage that could easily be converted into another accessory dwelling unit (ADU), further increasing the income potential. Both units benefit from ample off-street parking and garage space, ensuring convenience for residents and guests alike. Situated on a desirable corner lot, the property features a serene private yard surrounded by mature trees, creating a peaceful retreat in the heart of the city. The location is unmatched – just a leisurely stroll to the picturesque waterfront or a short bike ride to downtown St. Petersburg, home to high-end restaurants, vibrant shopping, world-class museums, and the iconic St. Pete Pier. With the North Shore Aquatic Center nearby and easy access to I-275, Tampa International Airport is just a 25-minute drive away, and the pristine beaches of Florida’s west coast are equally close. This magnificent home perfectly blends historic grandeur with modern amenities and income-producing versatility, making it a true gem in one of St. Petersburg’s most desirable neighborhoods.
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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 | $1,300,000 | $1,300,000 | $1,300,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.750% | 6.750% | 6.750% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.333% | 6.876% | 6.936% |
Monthly Tax Payment | $935 | $935 | $935 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $8,432 | $8,432 | $11,504 |
Total Monthly Payment | $9,492 | $9,492 | $12,564 |
* 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.