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8 Value-Add Units in Pinellas Park Assigned

  • $579,500
  • 16 beds
  • 8 baths
  • 5,880 sqft

8 Value-Add Units in Pinellas Park

*OFF MARKET 8 Value – Add Units*
16 bed / 8 bath 5,880 sq ft Built in 1983
Fantastic opportunity to own 8 tenant occupied condos in desirable Pinellas Park, between Clearwater and Saint Petersburg. All units are 2 bedroom, 1 bath, 735 square feet plus patios with separate storage/utility rooms. Each unit has stackable washer and dryer hook ups in the utility room. These units are located in two concrete block buildings, four units in each building. New roofs are scheduled to be installed this month. There are a total of five buildings in this small condo community. All of the buildings are the same design and the tenants in neighboring units are paying over $1,000 per month in rent. The HOA covers the exterior of the building, insurance, and trash collection. Each unit is separately metered for water and electric. Our most similar comparable is a non-updated four unit property which sold quickly in 2019 for $350,000.

Investor Price $579,500
for over 13% Nett ROI

Rental Income: $8000 / mo $96,000 PA
Rehab Projection: $10,600
Closing Costs to buy: $15,000
Rehab Projection: $10,600
Utliities: $0,
Insurance: $2,000 / yr
Est Taxes: $7.472
Property Mgmt: $6,720 / yr,
Maintenance: $2,000 / yr

Available on 08.14.2020

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Pinellas Park, Florida
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Amazing opportunity to own this home in a very desired location. Great investment Property is on an over-sized lot, larger than other properties close by. Don't miss out on the endless possibilities that this home has to offer.

Call (954) 280-5883 for more details