260 20th Avenue S, St Petersburg, FL 33705

Property Description

Prime Old Southeast Duplex Investment Opportunity - 5.3 CAP RATE with potential of 6.0 CAP RATE – Just 1 Mile South of Downtown St. Petersburg. Turnkey income-producing property in the heart of Old Southeast St Petersburg. this exceptional investment opportunity features a 2-bedroom, 2-bathroom unit plus a 1-bedroom, 1-bathroom unit. Located in desirable Old Southeast, just approximately 1 mile south of Downtown St. Petersburg, this renovated concrete block duplex offers a strong investment opportunity in one of St. Pete’s consistently high-demand rental locations. With proximity to the USF St. Petersburg campus, Johns Hopkins All Children’s Hospital, Orlando Health Bayfront Hospital, the St. Pete Innovation District, The Dalí Museum, Mahaffey Theater, Al Lang Stadium, downtown waterfront parks, the marina, restaurants, nightlife, museums, and Tampa Bay, this location appeals to long-term tenants, medical professionals, college students, downtown workers, and owner-occupants alike. Both units have been renovated and feature newer major systems, including a NEW ROOF 2025, both apartments have NEW AC UNITS 2023, and private in-unit washer and dryer for each residence. Additional upgrades include; NEW HOT WATER TANKS 2024, IMPACT WINDOWS 2023, NEW APPLIANCES 2024. The larger front unit offers approximately 850 square feet with a conventional and highly livable layout, featuring 2 spacious bedrooms, each with its own ensuite bathroom, a fully equipped kitchen, private laundry, and private outdoor space. The second unit is an efficient and well-appointed 1 bedroom, 1 bathroom residence with approximately 530 square feet, offering a large bedroom with ensuite bath, functional kitchen storage, private laundry, and comfortable living space. This property is ideal for an investor looking to add a renovated duplex to their rental portfolio or for a buyer seeking an owner-occupant house-hacking opportunity. Time it right, and the 2 bedroom/2 bathroom unit may be available for you to live in while the 1 bedroom/1 bathroom unit helps offset your mortgage. With the growth of the nearby Innovation District, expanding healthcare, marine science, university, arts, and business corridors, this Old Southeast duplex is positioned in a location where rental demand remains strong. You will never be short of tenant interest in this prime St. Petersburg location.