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Debbie Gentry

debbie@debbiegentry.com +1(352) 217-3179

$ 3,200,000

Est. payment | -/mo

10,964 SqFt

Save Virtual Tour

$ 3,200,000

Est. payment | -/mo

Save Virtual Tour

10,964 SqFt

Key Details

Property Type Commercial

Sub Type Multi-Family 5+

Listing Status Active

Purchase Type For Sale

Square Footage 10,964 sqft

Price per Sqft $291

Subdivision St Petersburg Beach North Unit 7

MLS Listing ID TB8504963

HOA Y/N No

Year Built 1972

Annual Tax Amount $18,231

Lot Size 0.500 Acres

Acres 0.5

Lot Dimensions 105x208

Property Sub-Type Multi-Family 5+

Source Stellar MLS

Property Description

Location, Location, Location on St Pete Beach, the Palm Garden Apartment Complex is a rare opportunity to acquire an immaculate condominium style investment property. The meticulously well-maintained fourteen unit with two buildings has long maintained full occupancy with average stay of the 14 lessee is 6.5 years this giving the owner a reliable revenue stream. Constructed in 1972 of solid block with poured concrete floors, built on a sturdy slab with a durable stucco exterior finish. The roof was installed in 2014 and its a 20mil TPO in excellent condition white roof. The Mansard roof built around the balconies were totally rebuilt in 2020 with new 50-year shingles and all ceilings being done with weather resistant wood. The building was painted in 2020 with top-of-the-line Behr Dynasty paint. The unit mix consists of twelve one-bedroom one-bath (680mol Sq Ft plus balcony) and two two-bedroom two-bath apartments. (1000mol Sq Ft) All but three apartments have been renovated and feature contemporary luxury kitchens and bathrooms appointed with high-quality fixtures and cabinets, stainless steel appliances, granite countertops, and European-inspired tile. Bedrooms are all carpeted. A number of major capital improvement projects have been completed in recent years including, but not limited to, new mansards roofs, landscape upgrade with Citra Blue sod(decease free sod), replacement of all hot water tanks within two years , all fuse and breaker boxes, epoxy resin surfaced hallways, steps and walkways, and replacement of all condensers on roof. Apartment layouts are designed with expansive living rooms, dining areas, full-size bathrooms, and a private balcony or patio. Community features include twenty off-street private parking spaces, professionally landscaped grounds shaded by tropical trees, and all new onsite laundry facilities. Every apartment is individually equipped with modern central heating and air conditioning systems providing year-round comfort. Metered separately, electricity is paid by tenants. City water and trash collection, as well as basic cable with internet service, is provided by the owner. Hot water is supplied by efficient individual in-unit tanks. There is a public bus stop, right in front of the Apartment Complex with buses passing by all day long. St Pete Beach regularly ranks among the world's list of best beaches!!! Apartment Complex tenants enjoy a year-round vacation style with nearby beaches. Short bike ride to public beach access at the popular Upham Beach Park and Sunset Beach Treasure Island both known for their popular white sand and breakfast area pavilion. There are plenty of restaurants within walking distance along with schools, churches, shops, bars, and not to forget the Historic Corey Avenue Shopping District. This shopper's paradise thrives as the heart of St Pete Beach with its historic unique specialty shops, art, craft, and jewelry galleries, clothing stores, and imaginative gift shops. This Apartment Complex has been owned by one family for over 20 years and is perfect for an investor wanting a mint condition property with no near-term problems. Owner operates the property himself with no problems leaving town on vacations constantly. Investors interested in purchasing a prize-winning property, that has been extremely taken care of, THIS IS IT!!!!!! Perfect for a 1031 Exchange or a real estate investment. Please contact the Broker/Owner for financial details and additional information!

Location

State FL

County Pinellas

Community St Petersburg Beach North Unit 7

Area 33706 - Pass A Grille Bch/St Pete Bch/Treasure Isl

Interior

Cooling Central Air

Flooring Carpet, Ceramic Tile

Exterior

Utilities Available Electricity Available, Public, Water Connected

Building

Lot Description Fire Hydrant

Story 2

Foundation Slab

Lot Size Range 1/2 to less than 1

Sewer Public Sewer

Water Public

Structure Type Block

New Construction false

Others

Ownership Fee Simple

Special Listing Condition None

Virtual Tour https://www.propertypanorama.com/instaview/stellar/TB8504963

Listed by Philip McHenry HOSPITALITY REALTY ENTERPRISES

NEARBY SCHOOLS & PROPERTIES

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(352) 217-3179

debbie@debbiegentry.com

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8630 BLIND PASS RD St Pete Beach, FL 33706