Kona Place
Closed680 22nd Ave S, St. Petersburg, FL 33705
Property type
Multifamily
Unit / Space count
16
Price
$900,000
Building size
9,600 sf
Rentable area
9,600 SF
Year built
1948
Year renovated
Occupancy
Zoning code
Lot size
0.34 Acres
Sold/status
Sold · Date unknown
Sale price
$900000
Bedroom count
Property description
Kona Place is a multifamily property located in St. Petersburg, FL. The unit mix at Kona Place consists of 16- 1 Bedroom 1 Bathroom units at 430 square feet. The building was constructed in 1948 of concrete block and flat roofs. The property has recently undergone a complete renovation of the interior and exterior, and features tiled floors, new fixtures and equipment, as well as a new roof, plumbing and all new windows. Residents at Kona Place enjoy being across the street from Bartlett Park Park and the Frank H Pierce Recreation Center, which features football, basketball and tennis courts, as well as a playground for children. The property is 2.4 miles to I-275, and just 2 miles to the heart of Downtown St. Petersburg. Kona Place offers the investor a turn-key asset in a high-growth market with stable cash flows priced significantly below replacement cost.
Property highlights
- Entire Property Completely Renovated in 2017
- Current In-Place Cap Rate of 7.75%
- Great Visibility on 22nd Ave S and Across the Street from Bartlett Park and Frank Pierce Recreation Center
- Located 2.5 Miles From Downtown St. Petersburg