Multi-Family•Low-Rise/Garden•For Sale

Corey Landings

550, 600, 601 Corey Avenue and 618 73rd Avenue , St Pete Beach, Florida 33706

Sale Price $5,500,000
Sale Type Investment
Zoning Multi-Family
Bldg Type Multi-Tenant
Year Built 1956
Year Renovated 2018
Stories 2
Vacancy 100%
Gross Bldg 25,000 SqFt
Project Size 40
Market Tampa Bay Metro
Sub-Market St Pete Beach
PRIME TIME ST PETE BEACH PROPERTY > Rarely is there an Opportunity to Purchase 40 units in St Pete Beach. The 4 Sites are all within 100 ft of each other, the Buyer had an opportunity to monopolize much of the rental units in this district. The Units produce a handsome income but there is huge Value Added with a new Owner. The Investment is currently running as short term & long term rentals. It is believed that the Properties could be returned to Motel Rooms or Vacation Rental and significantly increase revenues. Total Efficiencies are 27 units / Total 1 Bedrooms are 9 units / 2 Bedrooms are 4 units > Total 40 units. All the Sites are on or near Corey Avenue. Corey Avenue is part of Downtown St Pete Beach. 550 Corey is 14 Units and 100% occupied / 600 Corey is 7 units and 100% occupied / 601 Corey is 7 units and 100% occupied / 618 73rd Avenue is 10 units and 100% occuoied. Location Description: Simply one of the best locales in St Pete Beach. Three of the properties are located on Corey Avenue at 550 and 600 and 601 / Fourth one is on 73rd Avenue.
  • Florida Multi-Family Opportunity
  • Tampa Bay Metro Area
  • St Petersburg Market
  • St Pete Beach Community
  • Downtown District
  • Corey Avenue Address
  • Prime Long-Term Hold
  • 40 Units / 5 Complexes
  • Always 100% Occupied
  • Waterfront is Only One Block away
2/17/2020 11:10:09 PM 4/3/2020 4:28:05 PM
JonnY RenO La Budde
Licensed Agent
St. Petersburg
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