Sawgrass
Closed4150 78th Ave N, Pinellas Park, FL 33781
Property type
Multifamily
Unit / Space count
34
Price
$4,080,000
Building size
40,233 sf
Rentable area
40,233 SF
Year built
1984
Year renovated
Occupancy
Zoning code
Sold/status
Sold · Date unknown
Sale price
$4080000
Bedroom count
CAP
8.15%
Property description
Sawgrass Apartments is a two-story, 34-unit multifamily investment opportunity located in Pinellas Park, FL within the St. Petersburg MSA. The 1984-built property is comprised of two concrete block buildings with pitched shingle roofs and is situated on 2.07 acres of land. Property amenities include a large sparkling pool with lounging areas and on-site laundry facilities. Two units have upgraded interiors which include stainless steel appliances, granite countertops and upgraded cabinets in the kitchens and bathrooms Residents of Sawgrass Apartments enjoy the convenience of being well-located near several major retailers, restaurants and points of interest. Publix Supermarket, Target & Walmart Supercenters are all within a 3-minute drive of the property. Other nearby retailers include The Home Depot (0.5 Miles), Starbucks (0.9 Miles), Chipotle (0.8 Miles), Panera Bread (0.8 Miles) & Regal Park Place Movie Theatre (0.8 Miles). Sawgrass Apartments are just a quick 10-minute drive to the Gateway Business District, a major employment hub with over 2,700 companies and 65,000 employees. Nearby companies include The Florida National Guard (1.9 Miles), Lockheed Martin (2.4 Miles), St. Petersburg College (2.9 Miles), the Home Shopping Network (4.4 Miles) and Jabil (4.2 Miles). Florida's most-famous white sandy beaches are within 10 miles of Sawgrass Apartments, including St. Pete Beach, voted #1 Beach in America and #5 Beach in the World by TripAdvisor in 2021. Interstate 275, located just a half mile away, provides quick and easy access to St. Pete - Clearwater International Airport (6.0 Miles), Downtown St. Petersburg (7.5 Miles), Downtown Tampa (17.3 Miles) and Tampa International Airport (15.7 Miles). Sawgrass Apartments offers an investor the opportunity to acquire a well-maintained asset with historically strong occupancy and centrally located near several major employers and points of interest. The property has proven value-add potential with the ability to modernize interiors and exteriors and achieve escalating rents. A thriving location near retailers, restaurants, employers and world-famous beaches, paired with modern amenities and excellent roadway access; creates the ideal multifamily investment in the current and future market.
Property highlights
- Significant Value-Add Opportunity Through Proven Interior Renovation Strategy
- Two-Story 1980's-Built Concrete Block Buildings with Central HVAC and Pitched Roofs
- All Units Feature Spacious 2 Bedroom 1 Bathroom Layouts at 940 Square Feet
- Select Units Renovated and Achieving $250+ Monthly Rental Premiums
- Amenities Include Sparkling Swimming Pool and On-Site Laundry Facility
- Within a 3-Minute Drive of Publix Supermarket, Target & Walmart Supercenters
- Located 10 Minutes From the Gateway Business District, a Major Employment Hub with Over 2,700 Companies and 65,000 Employees
- Convenient to Interstate 275 and Downtown St. Petersburg (7.5 Miles), St. Pete – Clearwater International Airport (6.0 Miles), Downtown Tampa (17.3 Miles) and Tampa International Airport (15.7 Miles)