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$695,000

Beds
4
Baths
3.0
sq ft
2,342

1002 18th Ave S, Saint Petersburg, FL 33705

1002 18th Ave S

ST PETERSBURG, FL 33705

  • 306 days on market
    • Price drop $55,000↓
This prime investment rental property presents a fantastic opportunity for savvy investors and developers. With its strategic location and ample space, it offers the potential for lucrative returns and multiple development options.The property boasts a well-maintained structure that can be rented out immediately, generating a steady stream of rental income. The spacious layout and desirable features make it an attractive option for tenants, ensuring stable occupancy rates.Moreover, the property sits on a sizable plot of land, providing ample opportunities for future development. Whether you envision constructing additional residential units, commercial spaces, or a mixed-use development, the possibilities are endless.The property's location in a thriving neighborhood further enhances its investment potential. The area is experiencing significant growth and development, with new businesses, amenities, and infrastructure projects underway. This creates a strong demand for housing and commercial spaces, making it an ideal environment for rental properties and development ventures.With its income-generating potential, development opportunities, and strategic location, this investment rental is a rare find. It offers a unique chance to capitalize on the area's growth while enjoying the benefits of a reliable rental income stream. Whether you're an investor seeking a solid addition to your portfolio or a developer looking for the next big project, this property presents an exceptional opportunity to achieve your financial goals.The property enjoys a prime location in a neighborhood that is undergoing rapid improvement, which is not far from the vibrant downtown area of St. Petersburg.There has been a significant shift in the demographic makeup of the area, with new developments springing up frequently, adding to the neighborhood's appeal.The rental house stands out in excellent condition, meticulously maintained by its owners. It features a 4-year-old roof and a 4-year-old central air system, ensuring comfort and energy efficiency for its occupants.The property's desirability as a rental is evident from its consistently high demand. It rarely remains vacant for more than a week or two during tenant transitions, showcasing its strong rental potential in the local market.

Details

Property type

Single Family Residence

Est. home value

$268,022

Lot size

6,351 sq ft

Price per sq ft

$297

Year built

1920

Annual property taxes

$4,393

Price History

08/18/2024
StellarMLS

StellarMLS #U8231688

Price change
$695,000
-7.33%
02/21/2024
StellarMLS

StellarMLS #U8231688

Listed
$750,000

Schools & Community

Neighborhood: 

Cromwell Heights

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

First Home Bank

Loan start date

June 2022

Original loan amount

$1,110,000

Est. remaining balance

Not provided

Interest rate

5%

Loan type

Future Advance Clause / Open End Mortgage, 20 year

Seller

Rams Real Estate Holdings Llc

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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Status: Active

Tomo last checked: 12/22/2024 at 11:40 PM

Listing updated: 09/04/2024 at 1:06 PM

Listed by: Mark Nathwani, MELANGE REAL ESTATE INC Phone #: (813) 400-0077

MLS: StellarMLS #U8231688

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