4200 1st Street N, ST PETERSBURG, FL 33703
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4200 1st Street N,ST PETERSBURG, FL 33703
$2,495,000
- 13 Beds
- 13 Baths
- 8,000 sq. ft.
- Multi-family
- Pending
Listed by:jim blackmon
Office:coldwell banker realty
MLS#:TB8406946
Source:MFRMLS
Price summary
- Price:$2,495,000
- Price per sq. ft.:$277.22
About this home
PRICE REDUCED $388,500 !!! CAP RATE NOW 6.99%
10 unit solid concrete block apartment building in Northeast St. Pete. This building did not suffer any flooding, or adverse effects whatsoever from last years storms! Two story building with (3) 2 bedroom, 2 bath units, (7) 1 bedroom, 1 bath units and a dedicated laundry room. Building was built in 1972, and completely top to bottom “to the studs” renovated in 2017. Each unit has the same finishes: solid wood kitchen cabinetry featuring built in wine rack, granite countertops with undermount kitchen sink, four piece stainless steel appliance suite, central AC, 100 percent hurricane impact windows and doors, subway tile shower tile, with cast iron Kohler soaking tubs. Every plumbing unit in the building (toilets, tubs, shower valves, sink faucets) is Kohler, every light fixture LED, all interior doors in the building were replaced, all water heaters were replaced, as was roof. Walkways were redone with long lasting commercial coating. Added bonus: professionally refinished terrazzo flooring throughout the building; no expense ever for flooring between tenants!
Historical vacancy since renovation is virtually non existent. Northeast park is one of the most desirable neighborhoods in St. Petersburg, close to dining and restaurants, and this is a completely modernized building. Variations in rent between units of the same size are not due to quality of finishes (since all units were remodeled at the same time); but rather how long a tenant has been in the building. The lower the rent, the long the tenure. Moving forward, the “value add” is simply increasing rents to make them uniform when owner so chooses.
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Home facts
- Year built:1972
- Listing Id #:TB8406946
- Added:35 day(s) ago
- Updated:August 18, 2025 at 06:30 PM
Rooms and interior
- Bedrooms:13
- Total bathrooms:13
- Living area:8,000 sq. ft.
Heating and cooling
- Cooling:Central Air
- Heating:Central, Electric
Structure and exterior
- Roof:Built-Up
- Year built:1972
- Building area:8,000 sq. ft.
- Lot area:0.37 Acres
Utilities
- Water:Public, Water Connected
- Sewer:Public, Public Sewer, Sewer Connected
Finances and disclosures
- Price:$2,495,000
- Price per sq. ft.:$277.22
- Tax amount:$14,166 (2024)
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