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324 7th STREET S, St. Petersburg, FL, 33701 | $1,195,000
Under contract-accepting backup offers. Introducing a prime 4-unit multifamily property located in the heart of downtown St. Petersburg, offering exceptional investment potential and modern upgrades. This well-maintained property boasts an average monthly rental upside of $275 per unit, or approximately $13, 000 annually, based on comparable properties in the market.
Significant renovations have been completed in both 2022 and 2023, including stunning interior upgrades such as sleek stainless steel appliances, white shaker cabinets, new water heaters, and quartz countertops. The exterior has been meticulously enhanced with fresh sealant and painting, balcony repairs, fencing replacement, staircase repairs, and upgraded central AC units.
With amenities that include select furnished units, an on-site laundry facility, private front porches, and a fenced-in lot, this property offers comfortable living in a vibrant location.
Situated within walking distance to the best of downtown St. Petersburg, including upscale dining, retail destinations, and the scenic waterfront on Central Avenue and Beach Drive, this property is perfectly positioned. It’s also just a 5-minute walk to the highly anticipated $6. 5 billion Tropicana Field redevelopment project, which will transform the area with a new baseball stadium, 1. 4 million square feet of office and medical space, retail and dining, hotels, and more.
The property is ideally located near major employers such as St. Anthony’s Hospital (1. 3 miles), Bayfront Health (0. 5 miles), Johns Hopkins All Children’s Hospital (0. 5 miles), Tropicana Field (0. 3 miles), and the University of South Florida – St. Petersburg Campus (0. 4 miles). Plus, with St. Pete Beach just 7. 9 miles away, ranked as the #1 beach in the U. S. by TripAdvisor in 2021, this property offers both urban convenience and coastal relaxation.
This is a rare opportunity to own a high-potential, renovated multifamily asset in one of Florida’s most sought-after locations.
Features
- Bedrooms: 4
- Units: 4
- Lot Size: 50 x 50
- Laundry: Laundry Room
- Year Built: 1920
- Heating: Central
- Cooling: Central Air
- Approx Sq. Feet: 2,368
- Acreage: 0.06
- Lot Size: 50 x 50
- Est. Taxes: $11,121
- Elem. School: Campbell Park Elementary-PN
- Middle School: John Hopkins Middle-PN
- High School: St. Petersburg High-PN
- Pet Policy: Yes
- Appliances: Dishwasher, Disposal, Microwave, Range
- Lease Terms: 12 Months
- MLS#: TB8322027
- Days on Market: 33 days
- Website: https://www.raveis.com
/prop/TB8322027/3247thstreets_stpetersburg_fl?source=qrflyer
Listing courtesy of Compass Florida, LLC. Phone: 813-355-0744
William Raveis Family of Services
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.
Customer Service
888.699.8876
Contact@raveis.com
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To learn more about our credentials, visit raveis.com today.
Melissa CohnRVP, Mortgage Banker, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 16953
917.838.7300
Melissa.Cohn@raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
- Offers you pre-approval in minutes!
- Provides a guaranteed closing date that meets your needs
- Has access to hundreds of loan programs, all at competitive rates
- Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction
Robert ReadeRegional SVP Insurance Sales, William Raveis Insurance
860.690.5052
Robert.Reade@raveis.com
Our Insurance Division:
- Will Provide a home insurance quote within 24 hours
- Offers full-service coverage such as Homeowner's, Auto, Life, Renter's, Flood and Valuable Items
- Partners with major insurance companies including Chubb, Kemper Unitrin, The Hartford, Progressive,
Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable
324 7th STREET S, St. Petersburg, FL, 33701
$1,195,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Melissa Cohn
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
|---|---|---|---|
| Loan Amount | $956,000 | $956,000 | $956,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 6.750% | 6.625% | 6.625% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 7.620% | 6.735% | 6.806% |
| Monthly Tax Payment | $927 | $927 | $927 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $6,201 | $6,121 | $8,394 |
| Total Monthly Payment | $7,253 | $7,173 | $9,446 |
* 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.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
FL Mortgage Lender MLD1388