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Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1974
Sq.Footage
8,834
Beautiful South Pasadena apartment building. Exceptional opportunity to acquire Hibiscus Place Apartments, a rare,12-Unit Multifamily Investment in South Pasadena, Florida. This architecturally unique, high-demand, apartment building features a private central courtyard which showcases a double return central staircase and is located in an upscale residential neighborhood only one block from Boca Ciega Bay. The property is currently 100% occupied, generating approximately $228,920 in annual gross income. The offering represents an attractive opportunity to acquire an established, income-producing multifamily asset in a highly sought-after Gulf Coast location at a 5.4% cap rate. 12 units - Two 2 bedroom/2 bath, Two 2 bedroom/1 bath and Eight 1 bedroom/1 bath. In last 5 yrs - 30 year roof coating 2023, 5 new air conditioning units, updated laundry facilities, multiple kitchen/ bathroom/ flooring/ appliances, two asphalt parking lots updated and maintained regularly, landscape upgrades. 16 parking spaces (10 in front and second lot in the back. Short drive to St Pete Beach. Walk to shopping and restaurants.
Features & Amenities
Interior
-
Total Bedrooms
N/A
-
Bathrooms
N/A
-
Cooling YN
YES
-
Cooling
Central Air
-
Heating YN
YES
-
Heating
Central
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Construction Materials
Block, Concrete, Stucco
-
Pool
No
-
Waterfront YN
NO
Area & Lot
-
Lot Size(acres)
0.34
-
Lot Size(square feet)
14,815
-
Property Type
Commercial Sale
Price
-
Sales Price
$2,833,525
-
Tax Amount
$22,370.64
-
Financing Options
Cash
-
Sq. Footage
8,834
-
Price/SqFt
$320
HOA
-
Association
No
School District
-
Elementary School
N/A
-
Middle School
N/A
-
High School
N/A
Property Features
-
Stories
2
-
New Construction
NO
-
Foundation Details
Slab
-
Ownership
Fee Simple
-
Sewer
Public Sewer
-
Tax Lot
15
-
Water Source
Public
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Location
County
Pinellas
Elementary School
Middle School
High School
Listing Courtesy of Georgette Gillis, VIEWPOINT REALTY INTERNATIONAL
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Executive Assistant
Emil Garinga
Call Emil today to schedule a private showing.
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