Pending
14

8119 46TH AVE N ST PETERSBURG, FL 33709

$599,000

0.69

Acres

R-4

Zoning

402 days

On Website

Pending

Status

THIS ONE-OF-A-KIND DEVELOPMENT OPPORTUNITY IS LOCATED IN SAINT PETERSBURG, JUST MINUTES FROM MADEIRA AND REDINGTON BEACH! THE PROPERTY CONSISTS OF A .80 ACRE LOT WHICH IS ALREADY ZONED FOR RESIDENTIAL USE, AND PERFECT FOR THE DEVELOPMENT OF A BRAND-NEW MULTIFAMILY BUILDING. THE SITE CAN FIT APPROXIMATELY 20 MULTIFAMILY UNITS AROUND 800 S/F EACH. THE BEST PART OF THIS DEAL IS THE FACT THAT THE SELLER IS OFFERING AMAZING SELLER FINANCING! THIS NOT ONLY HELPS REDUCE THE INITIAL AMOUNT OF CASH NEEDED AT CLOSING, BUT THE LOW MONTHLY DEBT SERVICE WILL HELP THE BUYER REDUCE MONTHLY EXPENSES THROUGHOUT THE FIRST 5 YEARS! 20-UNIT DEVELOPMENT OPPORTUNITY IN BEAUTIFUL ST. PETERSBURG, FL, 25% DOWN, 4.75% FIXED IR INTEREST-ONLY PAYMENTS OR 30-YEAR AMORTIZATION.5- YEAR BALLOON, CASH-ON-CASH RETURN OF OVER 15% BY 2021, STRUCTURES AND TREES ON-SITE ARE EASILY REMOVABLE, MAKING THIS DEVELOPMENT OPPORTUNITY EVEN BETTER, MINUTES FROM MADEIRA AND REDINGTON BEACHES, MASSIVE DEMAND FOR APARTMENT RENTALS IN THIS AREA, MAKING THIS AN IDEAL LOCATION FOR A NEW DEVELOPMENT!

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Details


Building And Construction
Property Sub Type
Land
Property Type
Land

Exterior And Lot
Lot Size Acres
0.69
Lot Size Square Feet
29948
Zoning
R-4

Area And Schools
City
St Petersburg
County Or Parish
Pinellas

Financial Info
Buyer Agency Compensation
2.5%-$395
Tax Annual Amount
$3,861.37
Tax Year
2020

Listing By ELITE TAMPA BAY REALTY LLC

MLS# U8095050

Data Last Updated 9:06PM - 9/24/2021

Stellar MLS

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