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442 77th Ave N

4 Unit Apartment Building $1,490,000 ($372,500/Unit) 5.10% Cap Rate Saint Petersburg, FL 33702

Investment Highlights

  • 1031 Exchange Friendly
  • Investment Potential
  • Turnkey Condition
  • Low Vacancy Rate

Executive Summary

****DO NOT DISTURB TENANTS**** 
Prime Investment Opportunity: Turnkey 4-Unit Multi-Family Property
Welcome to an exceptional investment opportunity in a highly sought-after location! This unique offering comprises two duplexes, each with its own parcel, providing a total of four turnkey units. Here are the highlights that make this property a must-have for savvy investors:
- **Turnkey Condition**: All four units have been meticulously remodeled, ensuring they are in pristine condition and ready for immediate rental. No additional work is required—start earning from day one.

- **Unit Specifications**: Each unit features 2 bedrooms and 1 bathroom, designed with modern finishes and thoughtful layouts that attract quality tenants.

- **Private Backyards**: Every unit comes with its own private backyard, a rare and desirable amenity that enhances tenant satisfaction and retention.

- **Prime Location**: Situated in a prime location, this property offers unparalleled convenience. It is located close to major highways, providing easy access to Tampa, Largo, and Clearwater. Additionally, it’s just a 10-minute drive to downtown St. Petersburg, making it an ideal choice for tenants who work or enjoy the vibrant city life.

- **Low Vacancy Rate**: Thanks to its strategic location and high desirability, this property boasts a consistently low vacancy rate. The demand for rental units in this area is strong, ensuring a steady income stream.
- **1031 Exchange Friendly**: This property is perfect for a 1031 exchange, offering investors a tax-deferred opportunity to reinvest proceeds from the sale of another property.
- **Investment Potential**: With its separate parcels, there is flexibility in future development or sale strategies, offering additional potential for appreciation and profit.
Don't miss out on this exceptional investment opportunity. Secure a high-yield, low-maintenance property that promises both immediate and long-term returns. Contact us today to learn more and schedule a viewing!

Financial Summary (Pro forma - 2025) Click Here to Access

Annual Annual Per SF
Gross Rental Income - -
Other Income - -
Vacancy Loss - -
Effective Gross Income - -
Net Operating Income $99,999 $9.99

Financial Summary (Pro forma - 2025) Click Here to Access

Gross Rental Income
Annual -
Annual Per SF -
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual -
Annual Per SF -
Net Operating Income
Annual $99,999
Annual Per SF $9.99

Property Facts

Price $1,490,000
Price Per Unit $372,500
Sale Type Investment
Cap Rate 5.10%
No. Units 4
Property Type Multifamily
Property Subtype
Apartment
  • Multifamily Dormitory
Apartment Style Low Rise
Building Class B
Lot Size 0.30 AC
Building Size 3,072 SF
Average Occupancy 100%
No. Stories 1
Year Built/Renovated 1982/2023
Parking Ratio 2.28/1,000 SF

Unit Amenities

  • Disposal
  • Fireplace
  • Microwave
  • Heating
  • Ceiling Fans
  • Kitchen
  • Tub/Shower
  • Dining Room
  • Family Room
  • Patio
  • Vinyl Flooring

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
2+1 4 - 768
Bike Score ®
Very Bikeable (74)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • 30-30-17-45666-000-0940
  • 30-30-17-45666-000-0930
Land Assessment
$202,333 (2023)
Improvements Assessment
$267,667 (2023)
Total Assessment
$470,000 (2023)

zoning

Zoning Code NSM-1 (This district allows up to 3 stories multifamily structures.)
NSM-1 (This district allows up to 3 stories multifamily structures.)
  • Listing ID: 32248550

  • Date on Market: 6/25/2024

  • Last Updated:

  • Address: 442 77th Ave N, Saint Petersburg, FL 33702

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