240 20th Avenue S

Description

This quadruplex in the heart of the Old Southeast consists of two buildings with two units each, ample storage space and parking, a well-manicured front lawn and common area, and street and ally access. The front building holds two 1/1's, each with a separate entrance, and the back building holds two very large storage spaces on the first floor and two studios on the second. The back building grants access to each unit via two outdoor staircases, and a shared indoor staircase. All units have been well maintained and are rented to long term tenants at market rates, reducing the need to increase rents or negotiate new leases. Each unit has been meticulously well maintained, with a mix of refurbished hardwood floors and tile. The roof of the front building was replaced in 2023, and the pluming has been maintained and replaced as needed. The property also sits on the brick lined streets of the Old Southeast, a quiet, upscale neighborhood just south of downtown, and within an easy walk to Lassing Park a public waterfront park and beach. It is also only two miles from Downtown St. Pete, a mile from USF St Pete Campus, and two miles from Tropicana Field. Nearby development includes the 4th Street Townhomes (10 residential units), Lake Maggiore Apartments (330 residential units), Coquina Key Plaza (456 residential units and 20,817 SF of retail), and the new Arc Invest headquarters that is kicking off St. Pete's new Innovation District along 4th Street. With long term tenants in place, well maintained units, and market rents, this is a true turn-key St. Pete Multifamily investment.