5000 74th St N

Investors looking for solid cash flow from day 1, here is your perfect opportunity! This St. Pete duplex features two, 2 bed 1 bath units and will be fully occupied as of July 1st, 2022, and operating at a 6.16% CAP rate. One unit is fully updated and leased at $1,450/month with $125 for utilities. The other, non-updated unit is leased at $1,400/month with $125 for utilities as well. Both are 12-month leases allowing you steady income and ease of investing. With market rents at $1,550/month, this is also a great value add opportunity for the new buyer. Pro-forma CAP rate would then increase to just under a 7% CAP. The property even sits on Saint Joes Creek, allowing no direct rear or side neighbors on one side & the opportunity to grab out that fishing pole! Both units share an additional storage and laundry room located between both units in the screened-in front porch/entryway. Given the poor nature of the stock and crypto markets right now, real estate (especially in a market like St. Petersburg) is the place to put your cash! Conveniently located to all that beautiful St. Pete has to offer; 13 minutes to the beaches, 20 minutes to Downtown St. Pete, and only 30 minutes to Downtown Tampa, and Tampa International Airport. Recent updates include fresh exterior paint, Left Side unit (fresh interior paint, new laminate floors, granite counters, updated bathroom, and new fixtures) Right side unit (will have a fresh coat of interior paint prior to closing). Click this link to view the offering memorandum: https://www.crexi.com/properties/846121/florida-5000-74th-street-n?offeringMemorandum=download Don’t delay and call today!