$599,000 list price
location_onST PETERSBURG, FL 33709 · Pinellas County
THIS ONE-OF-A-KIND DEVELOPMENT OPPORTUNITY IS LOCATED IN SAINT PETERSBURG, JUST MINUTES FROM MADEIRA AND REDINGTON BEACH! THE PROPERTY CONSISTS OF A .80 ACRE LOT WHICH IS ALREADY ZONED FOR RESIDENTIAL USE, AND PERFECT FOR THE DEVELOPMENT OF A BRAND-NEW MULTIFAMILY BUILDING. THE SITE CAN FIT APPROXIMATELY 20 MULTIFAMILY UNITS AROUND 800 S/F EACH. THE BEST PART OF THIS DEAL IS THE FACT THAT THE SELLER IS OFFERING AMAZING SELLER FINANCING! THIS NOT ONLY HELPS REDUCE THE INITIAL AMOUNT OF CASH NEEDED AT CLOSING, BUT THE LOW MONTHLY DEBT SERVICE WILL HELP THE BUYER REDUCE MONTHLY EXPENSES THROUGHOUT THE FIRST 5 YEARS! 20-UNIT DEVELOPMENT OPPORTUNITY IN BEAUTIFUL ST. PETERSBURG, FL, 25% DOWN, 4.75% FIXED IR INTEREST-ONLY PAYMENTS OR 30-YEAR AMORTIZATION.5- YEAR BALLOON, CASH-ON-CASH RETURN OF OVER 15% BY 2021, STRUCTURES AND TREES ON-SITE ARE EASILY REMOVABLE, MAKING THIS DEVELOPMENT OPPORTUNITY EVEN BETTER, MINUTES FROM MADEIRA AND REDINGTON BEACHES, MASSIVE DEMAND FOR APARTMENT RENTALS IN THIS AREA, MAKING THIS AN IDEAL LOCATION FOR A NEW DEVELOPMENT!
David Weylie
ELITE TAMPA BAY REALTY LLC
$119,800 down
Loan amount $479,200
Estimated monthly principal & interest
$3,029
Estimate excludes taxes, insurance, HOA dues, PMI, lender fees, and financial advice.
ELITE TAMPA BAY REALTY LLC
844-354-8373
