Camelot Apartments
Closed3316 31St Ave N, St Petersburg, FL 33713
Property type
Multifamily
Unit / Space count
28
Price
$3,610,000
Building size
25,728 sf
Rentable area
25,728 SF
Year built
1963
Year renovated
Occupancy
Zoning code
Lot size
0.83 Acres
Sold/status
Sold · Date unknown
Sale price
$3610000
Bedroom count
Property description
Camelot Apartments is a 28-unit multifamily investment opportunity in the heart of St. Petersburg, FL. The property boasts spacious 1- and 2-bedroom floor plans ripe for renovation. With an estimated average monthly rental upside of over $283 through strategic improvements and loss-to-lease recapture, investors have the opportunity to maximize returns and enhance property value significantly. Both roofs were recently replaced in 2024, ensuring minimal capital expenditure requirements in the near future. Strategically located near downtown St. Petersburg, this property offers residents unparalleled convenience with easy access to shopping, dining, and entertainment options including Starbucks (0.8 Mi), Publix (1.0 Mi), Aldi (1.0 Mi), Sam's Club (1.1 Mi), Lowe's (1.4 Mi), Trader Joes (2.7 Mi), and Tyrone Square Shopping Mall (4.1 Mi). Its proximity to major employers, healthcare facilities, and key redevelopment projects positions it as a highly desirable rental destination. Camelot Apartments presents a compelling investment opportunity in one of Florida's most dynamic markets. With its prime location, value-add potential, and the city's ongoing growth initiatives, investors can capitalize on the steady appreciation and income potential of this asset.
Property highlights
- 28-Unit Multifamily Property Located in St. Petersburg, FL
- Competitive Marketing Process with 15+ Offers
- Closed in 65 Day Timeframe from Contract Signing to Closing
- Buyer Secured Agency Financing
- Located 4.2 Miles from Downtown St. Petersburg with Major Employers Including St. Anthony's Hospital, Albert Whitted Airport, The University of South Florida - St. Pete Campus, Johns Hopkins All Children's Hospital, and Bayfront Health St. Petersburg