Lawtone Apartments
Closed324 Grove St N, St. Petersburg, FL 33701
Property type
Multifamily
Unit / Space count
17
Price
$3,700,000
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
$3700000
Bedroom count
Property description
Lawtone 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 and (16) 1 Bedroom / 1 Bath Apts. Lawtone Apartments offers residents renovated apartments with modern finishes in a prime St. Petersburg location that is just steps away from Downtown. Unit interiors include stained hardwood floors, granite countertops, new cabinetry, new plumbing, and new light fixtures. 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 new $90M St. Pete Pier (1.4 Mi), and Al Lang Stadium (1.5 Mi). Lawtone 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
- Well-Maintained Boutique Multifamily Property in Excellent Downtown St. Petersburg Location
- Property Went Under LOI within 10 Days of Marketing
- Sourced Out-of-State Buyer with Aggressive Terms
- Franklin Street Provided Financing and Insurance Services for the Buyer
- Convenient 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)
- 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)