Multi-Family•Garden Style•For Sale

Gulfport Multifamily Properties

5108 Gulfport Boulevard South, Gulfport, Florida 33707

Sale Price $975,000
Class C
Status Existing
Year Built 1951
Stories 1
Gross Bldg 4,344 SqFt
Project Size 7
#1 Bedrooms 6
#2 Bedrooms 1
Bridgewater Commercial is offering five one-bedroom apartments, one 2-bedroom unit and one studio along with a 66x180 (0.27 acre) R-2 vacant lot in the burgeoning City of Gulfport. The portfolio includes three separate parcels and close to the bike-friendly Pinellas Trail. Tenants enjoy unique shops, popular restaurants, bars, the pier and more along the Gulfport Waterfront. Stetson Law School, private and public courses, the Gulfport Marina are just minutes away and a grocery-anchored shopping center sits across Gulfport Blvd. Newly constructed homes one block away. This opportunity is also central to the Gulf beaches and Downtown St. Petersburg. Current month-to-month rents average $750 for the seven units ($63,000 annual rents) -- well below the $1,079 per unit in the South Pinellas submarket. Light vacancy rates spurred submarket rent growth to 4% in 1019. Gulfport has experienced some of the highest property value increases in West Central Florida over the past two years -- pushing multi-family investment to the strongest sales on record. An adjacent commercial property with 2 retail buildings is also available.
  • Two Duplexes
  • One Triplex
  • Vacant Lot
  • Month to month leases
2/18/2020 12:00:00 AM 2/18/2020 8:21:53 PM
Kris Dumke
Broker
Bridgewater Commercial Real Estate
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