3259 36TH AVENUE N, ST PETERSBURG FL 33713,ST PETERSBURG,Pinellas

Property Description

Welcome to your new home sweet home or investment opportunity or BOTH! This property offers both a single-family house and a duplex on the same lot, providing flexibility and multiple rental options. The house and duplex units are all 2 bed 1 bath. All units have their own laundry rooms and are metered separately for both water and electric and plenty of off street parking.
This property has been recently updated with new roofs, windows, and exterior doors. The house and one of the duplex units have been completely renovated to modern standards, making them move-in ready for potential renters or owner occupants. Each unit will rent for as much as $2,155 per month, offering a potential annual gross income of $77,580. At current cap rates the asking price is a bargain!.
Annual expenses, including non-homesteaded taxes, insurance and $100/mo maintenance per unit, come in at $12,000. However, note that the $100 a month for maintenance is overkill since the house and one unit are beautifully renovated. With renovation of the remaining duplex unit and a possible garage and garage apartment addition to the main house and some fencing, the property could see increased rental income and improved privacy for each unit.
This property is an excellent investment opportunity with a great potential for cash flow, making it a smart choice for investors looking for a reliable source of rental income. It is also ideal for an owner-occupant who could live in one of the units, potentially living for free with a positive cash flow. Purchasing with an FHA 203K loan, you could include the improvements in the purchase. Combined with a low down payment and a rate buydown makes this an incredible opportunity. Don’t miss out!

All offers are contingent upon Seller approval. Any and all offers or counter offers are not binding until the entire agreement is ratified by all parties AND the fact of execution has been communicated to all parties. Offers must be accompanied by Prequal / Pre-Approval letter and Proof Of Funds to close, dated within thirty (30) calendar days of the date of offer. See Also T3435968