240 20th Ave
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240 20th Ave
4 Unit Apartment Building $910,000 ($227,500/Unit) Saint Petersburg, FL 33705
Investment Highlights
- Turnkey investment requiring minimal maintenance expenses
- Prime location within walking distance to Lassing Park, and easy biking/driving access to Downtown St. Pete, the Pier, USF St. Pete, and The Trop
- Units have been meticulously maintained, with a mix of tile floors and refurbished hard wood
- Long term tenants in place paying market rents
- Two studios and two 1/1’s with ample storage, parking, alley access, and manicured common area
- Crawl space under each building grants easy access to plumbing
Executive Summary
Bridgewater Commercial Real Estate is pleased to present 240 20th Ave S for sale. This quadruplex in the heart of the Old Southeast consists of two buildings with two units each, ample storage space and parking, a well-manicured front lawn and common area, and street and ally access. The front building holds two 1/1’s, each with a separate entrance, and the back building holds two very large storage spaces on the first floor and two studios on the second. The back building grants access to each unit via two outdoor staircases, and a shared indoor staircase. All units have been well maintained and are rented to long term tenants at market rates, reducing the need to increase rents or negotiate new leases. Each unit has been meticulously well maintained, with a mix of refurbished hardwood floors and tile. The roof of the front building was replaced in 2023, and the pluming has been maintained and replaced as needed.
The property also sits on the brick lined streets of the Old Southeast, a quiet, upscale neighborhood just south of downtown, and within an easy walk to Lassing Park – a public waterfront park and beach. It is also only two miles from Downtown St. Pete, a mile from USF St Pete Campus, and two miles from Tropicana Field.
Nearby development includes the 4th Street Townhomes (10 residential units), Lake Maggiore Apartments (330 residential units), Coquina Key Plaza (456 residential units and 20,817 SF of retail), and the new Arc Invest headquarters that is kicking off St. Pete’s new Innovation District along 4th Street.
With long term tenants in place, well maintained units, and market rents, this is a true turn-key St. Pete Multifamily investment.
The property also sits on the brick lined streets of the Old Southeast, a quiet, upscale neighborhood just south of downtown, and within an easy walk to Lassing Park – a public waterfront park and beach. It is also only two miles from Downtown St. Pete, a mile from USF St Pete Campus, and two miles from Tropicana Field.
Nearby development includes the 4th Street Townhomes (10 residential units), Lake Maggiore Apartments (330 residential units), Coquina Key Plaza (456 residential units and 20,817 SF of retail), and the new Arc Invest headquarters that is kicking off St. Pete’s new Innovation District along 4th Street.
With long term tenants in place, well maintained units, and market rents, this is a true turn-key St. Pete Multifamily investment.
Property Facts
| Price | $910,000 | Apartment Style | Low Rise |
| Price Per Unit | $227,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| No. Units | 4 | Building Size | 2,224 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1939 |
| Price | $910,000 |
| Price Per Unit | $227,500 |
| Sale Type | Investment |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 2,224 SF |
| No. Stories | 2 |
| Year Built | 1939 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | 680 |
| 1+1 | 2 | - | - |
Bike Score ®
Very Bikeable (74)
PROPERTY TAXES
| Parcel Number | 30-31-17-77184-009-0140 | Improvements Assessment | $78,106 |
| Land Assessment | $321,894 | Total Assessment | $400,000 |
PROPERTY TAXES
Parcel Number
30-31-17-77184-009-0140
Land Assessment
$321,894
Improvements Assessment
$78,106
Total Assessment
$400,000
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Davis Nunneley -
Bridgewater Commercial Real Estate
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