MLS® ID: U8064630
3600 S DR MARTIN LUTHER KING JR STREET
ST PETERSBURG, Florida, 33705 $1,150,000
Great CASH FLOW opportunity! Rarely available 12 plex (spread across 3 buildings) with one 2-Bedroom/2-Bath, two 2-Bedroom/1-Bath and nine 1-Bedroom/1-Bath units that are each 940 sqft. All units include 1 carport. This property, with unobstructed water views, is located directly across from Lake Maggiore, Lake Maggiore Public Park and the Boyd Hill Nature Preserve, a 245 Acre award winning park with 6 miles of trails, boardwalks and natural grasses. The 2 story property is concrete block construction with flat roofs and covered carport parking. The roof is less than a year old, and the ACs are less than 5 years old. Additional income opportunities include raising rents (they are currently below market), installation of onsite laundry facilities (hookups are already in place), and adding storage areas and sub-metering systems. The property has consistently been fully leased and has excellent frontage on 9th St S for high visibility.