Grove Street Apartments
Closed324 & 330 Grove St N, St. Petersburg, FL
Property type
Multifamily
Unit / Space count
17
Price
$2,000,000
Building size
14,482 sf
Rentable area
14,482 SF
Year built
1928
Year renovated
Occupancy
Zoning code
Lot size
0.23 Acres
Sold/status
Sold · Date unknown
Sale price
$2000000
Bedroom count
Property description
Grove Street Apartments is a 17-unit multifamily community located in St. Petersburg, FL in Pinellas County. The property consists of 2 buildings built in 1925 & 1928. The 2 buildings sit on 0.23 acres and have a combined square footage of 14,428 SF. The unit mix consists of: (1) Studio Unit, (15) 1 Bedroom/1 Bath Apt and (1) 2 Bedroom/1 Bath Apt. Grove Street Apartments offers residents renovated apartments with modern finishes in a prime St. Petersburg location that is just steps away from Downtown. Unit upgrades include stained hardwood floors, stainless steel appliances, upgraded countertops, tiled bathrooms & showers, fireplaces, porches & patios, convenient parking and an on-site laundry facility. Nearby employers & national retailers include Publix (0.7 Mi), Starbucks (1 Mi), St. Anthony's Hospital (0.7 Mi), Bayfront Health Hospital (1.2 Mi), Johns Hopkins All Children's Hospital (1.3 Mi), Tropicana Field (0.9 Mi) and the University of South Florida - St. Pete Campus (1.3 Mi). Recreation, shopping and dining in the area are plentiful and include destinations such as Vinoy Park (1.6 Mi), Central Avenue (0.8 Mi), The St. Pete Pier (1.4 Mi) and Al Lang Stadium (1.5 Mi). Grove Street Apartments offers an investor the ability to acquire two turn-key assets in a prime St. Petersburg location with the ability to add value through the implementation of strategic upgrades.
Property highlights
- Rare Opportunity to Acquire 2 Well-Maintained Historic Multifamily Properties in the Heart of Downtown St. Petersburg
- Significant Upside Through Raising Rents to Market Levels ($300+/Month)
- Extremely Well-Maintained Property with Long-Term 20-Year Ownership; Recent Capex Includes: New TPO Roof, New Fire Alarm/Sprinkler System, New Carpet Throughout Hallways, New Concrete Driveway, and Interior Renovations
- Majority of Interiors Feature Stained Hardwood Floors, Granite or Corian Countertops, New Cabinetry, Tiled Bathrooms & Showers, and New Plumbing/Lighting Fixtures
- Nearby Employers Include St. Anthony's Hospital (0.7 Mi), Bayfront Health Hospital (1.2 Mi), Johns Hopkins All Children's Hospital (1.3 Mi), Tropicana Field (0.9 Mi) and the University of South Florida - St. Pete Campus (1.3 Mi)
- Conveniently Walkability to Nearby Destinations Include Vinoy Park (1.6 Mi), Central Avenue (0.8 Mi), The St. Pete Pier (1.4 Mi) and Al Lang Stadium (1.5 Mi)