🔥🔥Hot Duplex South St Pete -!!🔥🔥 Pictures included

Overview

4 Bedrooms

2 Bathrooms

1,200 ft

Year Built: 1950

Description

Endless exit strategy opportunities with this Duplex featuring a Mother-in-Law Suite, this property presents an attractive investment opportunity. Great for Fix n Flip, or just keeps AS-IS with some minor cosmetic updates for BUY and HOLD Investors – 1% Car Rate and no HOA or restrictions. This property offers you endless potential. Pick it up before it’s too late.

Main unit 3/1
Back unit Studio with Bathroom

1 Electric Meter for both homes. Tenants pay the owner directly for utility reimbursement based on usage 70/30 split between the Main and Rear.

Property Details 🏡

Rehab Level: Medium

Construction: Concrete block

Electrical Panel: Good condition

Air Conditioner: 2021

Roof: 2015

Foundation: Slab

Occupancy: Tennant occupied ( call for access )

Security: Seller is willing to leave a 3-month holdback in escrow to guarantee rent payments from tenants.

Tenant Security Deposit: 1 Month

Lease Term: Yearly – Expires September 2024 for both tenants, however, there’s a clause in the lease that states the owner can take possession with a 30-day notice.

Tenant-1 History: 2019

Tenant-2 History: 2022

Gross Monthly Rent Combined: $2725

Projected rental if fully updated: $3300

Points of Interest📍

Near shopping, restaurants, and public parks

Just a short drive to I-275

Minutes from downtown Gulfport, downtown St Petersburg

Near beautiful gulf beaches

Comps 💹:

Duplex
2929 FAIRFIELD AVE S, ST PETERSBURG, FL 33712
Sold $355k – 03/14/2024 – Sqft 1450

SFR
2432 13TH AVE S, SAINT PETERSBURG, FL 33712
Sold $350k – 05/20/2024 – Sqft 1194