255 6th Avenue N, St Petersburg, FL 33701
- $1,200,000
- 3,234
- SqFt
- List Price
- $1,200,000
- MLS#
- TB8522549
- Sq. Ft
- 3,234
- Lot Size
- 3,494
- Subtype
- Multi-Family 5+
- County
- Pinellas
- Community
- No Deed Restriction
- Subdivision
- Kinyons H H Add
- Year Built
- 1925
Property Description
One of Downtown St. Petersburg's rarest offerings — a historic 1925 six-unit apartment building situated steps from Historic Old Northeast in Flood Zone X. The two-story wood-frame building features 5 one-bedroom/one-bath units plus an efficiency, individually metered electric, and a 2021 roof replacement already complete. Current rents are significantly below the appraiser's concluded value and represent significant income upside with rent stabilization in gross annual potential. Grandfathered 6-unit use under NT-2 zoning protects the income-producing asset in a neighborhood where comparable new supply simply cannot be built. Value-add investors will appreciate the vacancy/rent-up story, the density efficiency, and a location that commands premium tenants with minimal concessions. A genuine value-add play in a submarket that rarely offers one. Dont miss out on the investment opportunity. Contact the listing agent for a duel portfolio marketing plan for this and 247 6th ave n.
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Additional Information
- Construction
- Frame
- Cooling
- Wall/Window Unit(s)
- Heating
- Ductless
- Roof
- Shingle
- Utilities
- Public
- Stories
- 2
- Acres
- 0.08
- Price Per Sqft
- $371
Listing courtesy of SUNSHINEAGLE LLC. Contact: 941-416-4580