Quadplex in St. Pete Ready to Rent!

Quick Summary

Purchase Price
$689,000
Capitalization Rate
5.0%
Cash on Cash Return
0.5%
Total Return on Investment
16.2%

6401 31st Street North, St. Petersburg, FL 33702

7 beds
4 baths
3,301 sqft
  • Rare, block construction quadplex available on a double corner lot just shy of 1/4 acre in unincorporated St Petersburg!
  • Just one building under one roof with a 3 bed/1bath unit, a 2 bed/1bath unit, and two 1 bed/1 bath units.
  • The 3 bedroom, 1 bath unit is spacious with living and dining areas and has central AC and indoor laundry hook ups.
  • The 2 bedroom, 1 bath is completely remodeled, features central AC and is very spacious with a large living area and large bedrooms.
  • One of the 1 bedroom, 1 bath units is quite spacious with the potential for using part of a living area for a 2nd bedroom.
  • The last unit is a 1 bedroom, 1 bath unit with it’s own living area.
  • Plenty of options for this one as the long term rent potential will bring a healthy return, but the short term rental strategy provides yet another lucrative opportunity.
  • There’s plenty of parking on site, and beautiful, mature oak trees provide a courtyard feel in the front yard, yet are not close to the building itself.
  • All 4 units have separate electric meters, and there is 1 shared water meter.
  • An owner could live in one of the units and gain income from renting the other 3 units, or an investor could enjoy an immediate 4 unit income.
  • All units are vacant and ready to rent.
  • All AC units are in good, working condition and utilities are on in all units but some breakers may be off but will be on for inspections.
  • Owners have a roof certification from a licensed roofer verifying roof will pass a 4 point.
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