1503 9Th St St. Petersburg, FL 33704

This exceptional 35-unit apartment building presents a compelling investment opportunity in the heart of St. Petersburg, Florida. The property, located at 1503 9th St N, boasts a prime location less than a mile from vibrant dining, retail, and nightlife. Built in 1960 and extensively renovated in 2022, this two-story, concrete block structure comprises two buildings totaling 16,448 square feet with 10,216 square feet of net rentable space. The recent renovation included new exterior paint, life-proof vinyl plank flooring, and new furnishings in all 35 units, which are fully furnished. The property benefits from a short-term business license, offering flexibility for various rental strategies, including apartments, Airbnb, or a boutique hotel. Significant capital improvements exceeding $200,000 have been completed since 2021, including roof permitting in 2019. The property offers a mix of studio, one-bedroom, and two-bedroom floor plans, catering to a diverse range of tenants. With a strong NOI of $486,960 and an attractive cap rate of 11.13%, this property represents a significant return on investment. Situated in Pinellas County, the most densely populated county in Florida, and within 20 minutes of St. Pete Beach, this location offers unparalleled access to amenities and attractions. The asking price is $4,375,000, or $125,000 per unit. The permitted zoning is 18-31-17-43182-000-0010. This is a fee simple ownership opportunity.