July 25, 2024
Sold Multifamily Property In St. Petersburg, FL
Florida’s top Multifamily real estate brokerage, The Multifamily Firm is proud to announce the sale of Cherry Hill Apartments, a 6-unit apartment community in the heart of the vibrant Old Northeast neighborhood in Downtown St Petersburg, Florida. Consisting of 2 buildings built in 1925 on 1 parcel totaling 0.181 acres, the recently sold property is uniquely equipped with two garages, one of which is being used as a laundry room & storage, and is positioned on a corner lot, providing a prime opportunity for future development. Additionally, all the units have been tastefully updated during the current ownership tenure and deliver an authentic Old Northeast feel.
With a $1.25 million dollar sale price at 208k per unit, The Multifamily Firm was thrilled to facilitate such a stellar sale for our client. Built in 1925, the Cherry Hill Apartments are equipped with several benefits and amenities, check them out below!
St. Petersburg Apartment Property Highlights
- 6-Units in 2 Wood-Frame Buildings Built in 1925 on 0.18 Acres
- Located in the Old Northeast in Downtown St. Petersburg, Florida
- Secured 3rd-Party Financing Despite Turbulent Lending Environment
- Within Walking Distance of the Bayfront & NOT in a Flood Zone
- Significant Updates Completed During Ownership Tenure
- Substantial Rental Upside Potential w/ Additional Interior Updates
- Uniquely Equipped w/ Two Garages, Used as a Laundry Room & Storage
- Distinct & Charming Unit Layouts, Delivering an Authentic Old Northeast Feel
- Corner Lot Providing Prime Future Redevelopment & Land Appreciation
- 0.8 Miles from the New St Pete Pier & 10-Min
- Walk from Beach Drive
Looking For A Multifamily Real Estate Firm To Buy Or Sell A Property In St. Petersburg, FL? Contact Us Today!
To learn more about The Multifamily Firm and to uncover how we can assist you, contact us today! To do so, call us directly at 941-444-6160 and we would be thrill to discuss your opportunities.