5050 74th St N Unit 1 Saint Petersburg, FL 33709
Property details
About 5050 74th St N Unit 1
10% CAP RATE!!! FOUNDATION REPAIRS COMPLETED!!! ADDITIONAL WATERFRONT LOT INCLUDED!!! ZERO DAMAGE FROM EITHER HURRICANE!!! PHENOMENAL MULTI UNIT INVESTMENT OPPORTUNITY WITH 6 UNITS PRICED FOR AN IMMEDIATE SALE IN A GREAT ST. PETE NEIGHBORHOOD WITH 135Ft OF WATER FRONTAGE!!!! Fully occupied cash generating investment property and all tenants are on MONTH TO MONTH AGREEMENTS!!! 3 two bedrooms 1 bath 2 studio 1 one bed one bath, fully occupied currently, opportunity to renovate units and raise rents. CURRENT RENTS ARE AS FOLLOWS: $1,800, $1,800, $1,800, $1,200, $1,200 $1,150 Total: $8,950 per month and $107,400 total income per year!!! Expenses: $250 per month for water garbage pickup $94 per month, $4,128 annually. Taxes $6,800 annually and Insurance $4,103 annually, never flooded in the last 20 years! Total expenses annually : $15,031 Net annual profit roughly: $92,368!!! Opportunity for laundry in the back, no laundry onsite currently, could be income producing laundry building onsite to be built as ADU type building. Upgraded plumbing 4 years ago Upgraded electrical 4 years ago Air condition 4 years old Central air. 10% cap rate with opportunity to boost to 12-15% cap rate with rent raise and laundry area addition!!!
Highlights
Virtual tour
Summary
- MLS Number: TB8303107
- MLS Name: MFRMLS
- Office Name: LPT REALTY
- Office Phone: (877) 366-2213
- Listing Agent: Steven Sallo
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Last updated on: 4/26/2025, 1:20:38 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$975,000
5050 74th St N Unit 1
$10,000
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Price information
Property sales
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Tax history
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Nearby schools
7
Seventy - Fourth St. Elementary
Public District PK-5
0.7 mi
•3801 74th St N
4
Blanton Elementary
Public District PK-5
1.0 mi
•6400 54th Ave N
7
Marjorie Kinnan Rawlings Elementary
Public District PK-5
1.1 mi
•6505 68th St N
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $32,794. The majority of Saint Petersburg, FL residents have income less than $<35k annually. Typical family type is single, no kids. Most residents in this area have high school diploma education.
How much money do the neighbors make?
What level of education do the neighbors have?
What types of families live nearby?
Are the neighbors home owners or renters?
How old are people in this area?
What do the neighbors do for fun?
Pro Boxing
Figure Skating
NHRA Drag Racing
Where do the neighbors shop?
Family Dollar
Chico's
Big Lots
Where do the neighbors go to eat?
White Castle
Bob Evans
Golden Corral
What do the neighbors drive?
Chevrolet
Oldsmobile
Kia
What do the neighbors listen to?
Rock
News
Adult Standards
This home is located at 5050 74th St N Unit 1 in Saint Petersburg, FL and zip code 33709 in the West Lealman neighborhood. This 3,409 square foot home, which was built in 1980, sits on a 0.36 acre lot. Features: 0 bedroom, 0 bathroom. It has been listed on Rocket Homes since September 12, 2024 and is currently priced at $975,000.