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5700 34th Street, Saint Petersburg, FL 33714

Multi-Family Home For Sale

5700 34th Street, Saint Petersburg, FL 33714 House For Sale - MLS #U7846749
$750,000
Multi-Family
5+ Family
12
This listing is courtesy of David Parker from Charles Rutenberg Realty Inc

Property Description for 5700 34th Street, Saint Petersburg, FL 33714

This is a great opportunity for investment! Building is now in the Lealman Community Redevelopment Area! Listing comes with the main lot (total of 3 lots) that has frontage on 34th St. N. There is currently a motel on the commercial lots with several options. Option 1: Revive as an active Hotel with 11 units plus an owners unit all in good shape for a 17% CAP Rate. Option 2: Build an identical building on other side of lot to double capacity along with a pool in the back between the two structures. Option 3: Augment the existing units to longer term rentals. Option 4: Redevelop the parcel. Option 5: Non profit housing. All the units are furnished and ready to be rented with minor updates. Option 6: for an additional $250,000 add the residential lots behind the commercial lot, for a total of 2 houses and 7 lots. There are two residential lots per house, for a total of 4 residential lots. The residential lots will have to be converted into commercial usage, but could then be combined for one large commercial lot. All lots combined are just under one acre.

Interior Details

Exterior Details

0.39 acres
16,949 sq. ft.

Other Details

U7846749
1956
Cable Available; County Water; Public Sewer; Public Utilities
Fruit Haven
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Town Description

St. Petersburg (often shortened to St. Pete or The Burg) is a city in Pinellas County, Florida, United States long known as a vacation destination for both American and foreign tourists. As of 2008,...

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