#U8246982, Joe Orchard, Listing Office: REALTY ONE GROUP SUNSHINE
Property details
About 5148 1st Ave S
Pre construction 8-unit multifamily property is one of the best development opportunities in Tampa Bay! The offering is for the land and plans. For an additional fee, the developer can deliver the site permit and shovel ready. Brand new construction means insurance and capital expenditures will be very low. This is a whole new asset class of new construction rental floor plans that are not yet available in the market! A dream come true for any savvy investor seeking an exceptional income-producing asset. This property offers a unique chance to capitalize on the thriving real estate market and secure a solid investment for years to come. Each of the 8 units have been thoughtfully planned to maximize space and functionality, ensuring optimal comfort and convenience for future residents and tenants. With a seamless flow between living areas, bedrooms, and kitchens, these units offer an ideal balance of privacy and open concept living. The interiors are a perfect blend of style and substance, featuring high-end finishes, premium fixtures, and top-of-the-line appliances. From the elegant LVP flooring to the designer lighting fixtures, every detail has been carefully curated to create an atmosphere of sophistication and refinement. As an investor, you'll be thrilled to know that this property is expected to operate as a 8% cap rate investment, with no capital expenditures required since it will be brand new construction. This means you can start generating income from day one without worrying about additional expenses. What's more, you have the opportunity to customize this property to your exact specifications. Floor plans, finishes, and every detail can still be decided on with the builder, allowing you to create a truly unique and personalized investment property. The developer is projecting a $1.5 million build for this exceptional multi-family property, ensuring a solid investment with a promising return on investment. Investors seeking a property with outstanding income potential need look no further. Don't miss out on this chance to be part of the thriving St Petersburg real estate market. Act now and seize the opportunity to own one of the best investment properties in all of Tampa Bay! Reach out today to discuss customization options and secure your place in this lucrative venture.
Highlights
Virtual tour
Summary
- MLS Number: TB8340916
- MLS Name: MFRMLS
- Office Name: COMPASS FLORIDA LLC
- Office Phone: (727) 339-7902
- Listing Agent: Zach Steinberger
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Last updated on: 3/10/2025, 10:19:52 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$700,000
5148 1st Ave S
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Price information
Property sales
Date | Event | Price |
---|---|---|
Mar 28, 2024 | Home Sold | $492,500 |
May 05, 2016 | Home Sold | $121,250 |
Feb 14, 2014 | Home Sold | $52,000 |
Apr 03, 2012 | Home Sold | $41,000 |
Mar 13, 2007 | Home Sold | $125,000 |
Jan 13, 2006 | Home Sold | $85,000 |
Tax history
Year | Assessment | Property Tax |
---|---|---|
2023 | $121,091 | $1,560 |
2022 | $117,564 | $1,502 |
2021 | $114,140 | $1,502 |
2020 | $112,564 | $1,506 |
2019 | $110,033 | $1,458 |
2018 | $107,981 | $1,427 |
2017 | $105,760 | $1,402 |
History based on county public records data.
Nearby schools
6
Bear Creek Elementary
Public District PK-5
0.8 mi
•350 61st St S
2
Fairmount Park Elementary
Public District PK-5
0.9 mi
•575 41st St S
5
Mount Vernon Elementary
Public District PK-5
1.1 mi
•4629 13th Ave 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 $45,430. The most common annual income of people living in Saint Petersburg, FL is between $35k-100k. The most common type of family is single, no kids. The most common level of education of people living in this area is high school diploma.
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Frequently asked questions
About 5148 1st Ave S
This home is located at 5148 1st Ave S in Saint Petersburg, FL and zip code 33707 in the Westminster Heights neighborhood. Features: 0 bathroom. It has been listed on Rocket Homes since January 22, 2025 and is currently priced at $700,000.
In February 2025, from all listings sold in Saint Petersburg, FL there were more than 32 sold above asking price, over 242 sold below and more than 67 were sold right at the asked price. In February 2025 in Saint Petersburg, FL there were 9.9% more homes for sale than in January. In February 2025, listings were on the market for 60 days. During the same period, the median list price in this real estate market was $431,523.