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Map
$993,299*
●
Multifamily -
Off Market
340 78TH AVENUE
ST PETE BEACH, FL 33706
Studio
0 Bath
2647 Sqft
$788,000 - $962,000
Reference Base Price*
13.52%
Since Oct 1, 2021
National-US
Primary Model
About This Property
The St Pete Beach 340 78th Avenue Five-Unit Apartments is located
in the heart of 2021 TripAdvisor America's Top Ranked St Pete
Beach. This exceptionally well maintained Property is comprised of
two structures situated on an expansive 7,100 square feet lot with
frontage on 78th Avenue, and convenience of separate access via a
publicly maintained alley on the south border of the Property.
Originally built in 1948, and constructed of solid block masonry,
the Property has undergone extensive recent capital expenditure
upgrades. The 78th Avenue facing building consists of four
one-bedroom units with off-street parking on 78th Avenue. The
separate, spacious detached single-family two-bedroom home rents
for $1,550*, and features alley-access off-street parking, new
Central* HVAC, a large laundry/utility room adjacent to the
kitchen, and additional storage, to name just a few of its unique
amenities. Recent capital expenditures include upgraded plumbing
and electric systems, new hurricane certified roof in March 2020, a
recently finished professional landscape project complete with
reclaimed water irrigation system, and exterior paint. The
one-bedroom units have fully-equipped kitchens, and remain
comfortable year-round with recently upgraded insulation, and
efficient window HVAC systems. One-bedroom rents are $900. All
tenants are current, and pay electric. The SFH two-bedroom tenant
pays its water and sewer. Pro-Forma real estate taxes are estimated
based on the offer price. The Property has historically been 100%
occupied, and is projected to operate with total expenses equal to
roughly 45% of EGI. The 340 78th Avenue Apartments represents the
unique opportunity to acquire a very high-quality, income-producing
multifamily asset, in exceptional condition, located on world
renowned St Pete Beach. Long-term value appreciation prospects for
this Multifamily Beach Rental Property are complimented by stable,
current income with potential for rent increases, low maintenance,
and prospects for minimal near-term capital expenditure
requirements. Situated between Blind Pass Road and the
Intracoastal, the Property is blocks from the Historic Corey
Shopping District's funky specialty shops, galleries, popular bars
and restaurants, and just minutes to the mainland via the Pasadena
Causeway. Known as the "Sunset Capital of Florida" and for its
world renowned shores, St. Pete Beach boasts the longest
undeveloped stretch of public beach in St. Pete / Clearwater.
Residents and tourists alike enjoy parasailing, paddle boarding,
windsurfing, and kiteboarding. Activities abound in St Pete Beach,
a town sprinkled with nostalgic Old Florida motels and inns, as
well as the five-star Don CeSar, and Trade Winds Island Resorts.
Aside from the Property's current condition, and recently completed
extensive capital expenditures, a most compelling aspect of the
Offering is the Property's proximity to the Top Ranked Beach in
America. St Pete Beach also encompasses the towns of Pass-a-Grille,
Punta Vista, and Belle Vista. SPB's downtown is centered on Corey
Avenue with its many bars, restaurants, and popular local and
tourist shopping. The Pass-a-Grille Historic District and Don CeSar
resort are at the southern end of the beach. With nearby cultural
and cosmopolitan attractions of St. Petersburg, Clearwater and
Tampa, SPB strikes the perfect balance for the casual, laid-back
beach enthusiast, as well as the active cosmopolitan attraction
seeker. * Effective October 2021
The manager has listed the unit size as 2647 square feet.
The manager has listed the unit size as 2647 square feet.
Unit Size
2,647Ft²
Days on Market
-
Land Size
0.16 acres
Price per sqft
$331
Property Type
Multifamily
Property Taxes
$544
HOA Dues
-
Year Built
1948
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
Oct 5, 2021 | Sold | $828,000 | |
Sold | |||
Sep 16, 2021 | No longer available | - | |
No longer available | |||
Aug 5, 2021 | Price Decreased |
$875,000
↓ $25K
(2.8%)
|
|
Price Decreased | |||
Jun 25, 2021 | Relisted | $900,000 | |
Relisted | |||
Jun 12, 2021 | No longer available | - | |
No longer available |
Show More
Property Highlights
Air Conditioning
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
In Contract
Multifamily
4
Beds
-
1,920 ft²
$547/ft²
$1,050,000
Nov 17, 2022
-
$409/mo
Active
Townhouse
3
Beds
2.5
Baths
2,100 ft²
$495/ft²
$1,040,000
Dec 5, 2022
-
$889/mo
Condo
2
Beds
2
Baths
1,300 ft²
$596/ft²
$775,000
Jul 21, 2022
-
$1,457/mo
In Contract
Condo
2
Beds
2
Baths
1,300 ft²
$599/ft²
$779,000
Dec 9, 2022
-
$1,869/mo
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|---|---|---|---|---|---|---|---|
07/16/2020
|
|
Studio
|
-
|
2647 ft²
|
$900,000
Studio
-
2647 ft²
|
-
-
|
-
|
Patrick Whitney
COLDWELL BANKER RESIDENTIAL
|
Building Info
About St. Pete Beach
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