$375,000
$400,000
6.3%For more information regarding the value of a property, please contact us for a free consultation.
2,735 SqFt
SOLD DATE : 04/23/2019
Key Details
Sold Price $375,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 2,735 sqft
Price per Sqft $137
Subdivision Regency Condo The
MLS Listing ID U8039584
Sold Date 04/23/19
Condo Fees $215
Construction Status No Contingency
HOA Y/N No
Year Built 1974
Annual Tax Amount $1,267
Property Description
GREAT LOCATION, GREAT INCOME! Package of 4 renovated, Northeast St. Petersburg condo units in Regency Condominiums on Shore Acres! This is the most desirable residential area in the city. Fenced pool area overlooks Lake Overlook. Building is literally next door to Venetian Isles and its million dollar plus homes. An ABOVE 7 percent cap rate, at list price, with REAL numbers accounting for vacancy, repairs, all taxes, insurance, and condo fees- with significant upside potential. 100 percent of the units have been extensively renovated in the past 24 months, and all units feature central A/C. No need to worry about flooding- no first floor units! (1 of the units is on the 2nd floor, 3 on the 3rd). All tenants are background checked through Transunion, on annual leases, and have full month security deposit on file. As they are condos, no need to worry about lawn care, exterior maintenance, pool maintenance, or pool liability- great way to truly make PASSIVE income with great upside! Active association has undertaken every measure to keep building in pristine shape. New common area flooring, state of the art security camera system, new asphalt parking lot, and new roof (2018) in the past few years. Three 1 bedroom, 1 bath units, and one 2/1.
PLEASE SEE ATTACHED INCOME STATEMENT, EXPENSE STATEMENT, AND CURRENT RENT ROLL ATTACHMENTS.
Location
State FL
County Pinellas
Community Regency Condo The
Zoning MULTI FAM
Direction NE
Interior
Heating Central, Electric
Cooling Central Air
Flooring Carpet, Ceramic Tile, Laminate
Fireplace false
Appliance Dishwasher, Disposal, Electric Water Heater, Range, Range Hood, Refrigerator
Laundry Corridor Access, Laundry Room
Exterior
Exterior Feature Dog Run, Irrigation System, Storage, Tennis Court(s)
Parking Features Assigned, Guest, Off Street
Pool Gunite, In Ground, Outside Bath Access
Community Features Buyer Approval Required, Irrigation-Reclaimed Water, Pool, Sidewalks
Utilities Available BB/HS Internet Available, Cable Connected, Electricity Connected, Sewer Connected, Sprinkler Recycled
Roof Type Built-Up,Membrane
Garage false
Private Pool Yes
Building
Lot Description Conservation Area, City Limits, Level, Near Golf Course, Near Public Transit, Oversized Lot, Sidewalk, Paved
Lot Size Range Non-Applicable
Sewer Public Sewer
Water Public
Structure Type Block,Stucco
New Construction false
Construction Status No Contingency
Others
Senior Community No
Ownership Condominium
Monthly Total Fees $215
Acceptable Financing Cash, Conventional
Membership Fee Required None
Listing Terms Cash, Conventional
Special Listing Condition None
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Bought with CHARLES RUTENBERG REALTY INC
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Agent | License ID: 3505918