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309 7th Street S, Saint Petersburg, FL 33701
$875,000
309 7th Street S, Saint Petersburg, FL 33701View this property at 309 7th Street S, Saint Petersburg, FL 33701
309 7th Street SSaint PetersburgFL33701
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Property Description
SELLER FINANCING will be considered; terms may include Year-One 3.85% Interest-Only, 40% Equity, and Two-Year Term, among others. An Excellent 1031 candidate, the Property is ideally located in the heart of St Petersburg. Situated on a 7,000 square feet parcel, and having historically maintained near 100% occupancy, the Property is located strategically in the direct converging transformational paths of revitalization occurring within and between St. Pete's vibrant Downtown, Central Avenue Grand and Edge Districts, and the expansive 333-acre Tropicana Field Opportunity Zone. Monthly rents for each of the eight units (four one-bedroom, and four studio) have recently averaged a modest $500. Estimated pro-forma rents are $775 for studios, and $1,050 for one-bedrooms. The projected expense-to-income ratio is roughly 35%. Tenants pay electric, landlord pays water/sewer. Three studios have been upgraded with tile, and granite counter tops. Roofs were replaced in 2007, and 2016. Each apartment is equipped with a through-wall HVAC unit. The Property may be acquired without requiring bank financing, representing a unique value proposition that combines its Prime Long-Term Development Opportunity with immediate Land Bank Current Income.
Full Property Details
Full Property Details for 309 7th St S
General
- Sold For: $875,000
- Taxes: $6,737 (2019)
- Status: Closed
- Type: Multi-Family
- MLS ID: U8060502
- Added to Site: 1, 673 day(s) ago
Exterior
- Exterior Features: Other
Location
- Area: 33701 - St Pete
- County: Pinellas
- Township: 31
- Subdivision: OAK HEIGHTS
- Driving Directions: From the intersection of Central Avenue and 7th Street S, proceed south on 7th Street S three blocks to its intersection with 3rd Avenue S, the Property is the second parcel south of 3rd Avenue S, on the west side of the Street.
Heating & Cooling
- Cooling Type: Wall/Window Unit(s)
- Heating Type: Wall Units / Window Unit
Utilities
- Utility Description: Electricity Connected, Sewer Connected
Structural Information
- # Buildings: 1
- Exterior Const.: Block, Concrete, Wood Frame
- Roof: Built-Up, Shingle
- Square Feet: 3,710
- Year Built: 1920
Lot Features
- Lot Size (Acres): 0.16
- Lot Size (Sq. Ft.): 7,052
- Lot Dimensions: 50 x 140
- Lot Features: Up to 10, 889 Sq. Ft.
Financial Considerations
- Tax Amount: $6,737.81
- Tax Year: 2019
Disclosures and Reports
- Special Conditions: None
- Legal Description: OAK HEIGHTS LOT 2
- Flood Zone Info: X
- APN: 19-31-17-62514-000-0020
- Property ID: 19-31-17-62514-000-0020
- Plat: H5-61
- Range: 17
- Lot Number: 2
- Block/Lot/Section: 000/002
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Schools
Schools serving 309 7th St S
School District:Pinellas County School District
Rating | Name | Grades | Distance |
---|---|---|---|
1051 7th Ave S, St Petersburg, FL 33705 | PK-5 | 0.5 mi | |
701 16th St S, St Petersburg, FL 33705 | 6-8 | 0.8 mi | |
2501 5th Ave N, St Petersburg, FL 33713 | 9-12 | 1.7 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 309 7th St S
Date
Details
Price
Change
Source
7/09/2020
Sold
$875,000
-7.89%
MLS
4/20/2020
Price Reduced
$950,000
-23.94%
MLS
1/10/2020
Price Reduced
$1,249,000
-37.55%
MLS
12/06/2019
Price Increased
$2,000,000
34.23%
MLS
9/27/2019
Listed
$1,490,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
309 7th Street S, Saint Petersburg, FL 33701 (MLS# U8060502) is a Multi-Family property that was sold at $875,000 on July 09, 2020. Want to learn more about 309 7th Street S? Do you have questions about finding other Multi-Family real estate for sale in Graham-Rogall? You can browse all Graham-Rogall real estate or contact a Coldwell Banker agent to request more information.