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555 69TH Avenue

St Pete Beach, FL 33706
  • $4,300,000
  • STATUS: Active
  • ON SITE: 209 Days
  • MLS #: U8181771
UPDATED: 48 min ago
$4,300,000
  • 0
    BEDS
  • 0.23
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 7,926
    SQFT
  • $543
    $/SQFT

School Ratings & Info

Description

Located on World-Famous St Pete Beach, the Five Fifty-Five Apartments represents an exceptionally rare opportunity to acquire a resort-style coastal multifamily property. This meticulously well-maintained, and tastefully appointed ten-unit apartment building has historically produced a consistently reliable revenue stream making it the ideal acquisition for discerning investors seeking to establish an investment property foothold on one of the most popular coastal beach communities in the world. Investors interested in acquiring a generational family asset to satisfy a pending 1031 Exchange, or expand, enhance and further diversify their existing portfolio of high-quality commercial real estate investments will want to tour The 555 Apartments. Subject to all other offer terms and conditions, in its sole determination the Seller may be willing to consider providing Seller First Mortgage Financing, the terms of which may include Interest-Only monthly debt service payments for an extended term of up to ten years. Constructed in 1971 of solid block with poured concrete floors, The 555 Apartments is built on a sturdy slab with a durable stucco exterior finish. Nine of the ten expansive apartments have two spacious bedrooms, four of which also have two full-bathrooms. There is a single one-bedroom / one full-bathroom unit as well. Modern windows provide abundant natural light throughout the year benefiting from the property's southern exposure. Among other popular amenities, tenants enjoy contemporary kitchens with high-quality fixtures and cabinets, stainless steel appliances, stylish backsplash tile, faux granite counters, and a combination of luxurious European-inspired tile and laminate flooring. The apartment layouts were planned with large living rooms, separate dining areas, and full-size bathrooms. Community features include twenty off-street private assigned parking spaces, professionally landscaped grounds with beautiful flowers, enclosed outdoor spaces for grilling and outdoor dining shaded by tropical trees, onsite laundry facilities, and secure bike storage. Every apartment is individually equipped with modern central heating and air conditioning systems that provide year-round comfort. Electricity is metered separately and paid by tenants. City provided water and trash collection service is paid by the owner. Hot water is supplied by efficient individual in-unit tanks. Ranked by Tripadvisor the Number One beach in the United States, and Number Five beach in the World, St Pete Beach attracts vacationers from around the globe who enjoy walking for miles looking for shells in the sand, and dolphins in the surf. The location of the Property, undoubtedly its most prominent feature, places it a block to public beach access at Upham Beach Park where residents find wide stretches of powdery sand along the glittering emerald-green waters of Floridas Gulf Coast. After a relaxing day of fun in the sun on St Pete Beach its time to shop, dine, and unwind in the Historic Corey Avenue Shopping District. For more than six decades this shoppers paradise has thrived as the heart of St Pete Beach with its historic theater, unique specialty shops, art, craft, and jewelry galleries, clothing stores, and imaginative gift shops. Locals and visitors alike enjoy breakfast, brunch, lunch, or dinner at one of the many wonderful Corey Avenue restaurants offering casual fare to fine dining and entertainment.

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© 2023 My Florida Regional MLS DBA Stellar MLS. All rights reserved. All listings displayed pursuant to IDX. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided for consumers personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Data last updated 2023-06-06T21:43:07.547.
www.godwinrealtygroup.com/homes/134638569
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555 69TH Avenue St Pete Beach, FL 33706

  • Price: $4,300,000
  • Status: Active
  • On Site: 209 Days
  • Updated: 48 min ago
  • MLS #: U8181771
0
Beds
0
Baths
0
½ Baths
0.23
Acres
7,926
SQFT
$543
$/SQFT
1971
Built
Neighborhood:
Beach Plaza Sec Of St Pete Beach
County:
Pinellas
Area:
St Pete/Pass A Grille Beach/St Pete Beach/Treasure Island
Property Description
Located on World-Famous St Pete Beach, the Five Fifty-Five Apartments represents an exceptionally rare opportunity to acquire a resort-style coastal multifamily property. This meticulously well-maintained, and tastefully appointed ten-unit apartment building has historically produced a consistently reliable revenue stream making it the ideal acquisition for discerning investors seeking to establish an investment property foothold on one of the most popular coastal beach communities in the world. Investors interested in acquiring a generational family asset to satisfy a pending 1031 Exchange, or expand, enhance and further diversify their existing portfolio of high-quality commercial real estate investments will want to tour The 555 Apartments. Subject to all other offer terms and conditions, in its sole determination the Seller may be willing to consider providing Seller First Mortgage Financing, the terms of which may include Interest-Only monthly debt service payments for an extended term of up to ten years. Constructed in 1971 of solid block with poured concrete floors, The 555 Apartments is built on a sturdy slab with a durable stucco exterior finish. Nine of the ten expansive apartments have two spacious bedrooms, four of which also have two full-bathrooms. There is a single one-bedroom / one full-bathroom unit as well. Modern windows provide abundant natural light throughout the year benefiting from the property's southern exposure. Among other popular amenities, tenants enjoy contemporary kitchens with high-quality fixtures and cabinets, stainless steel appliances, stylish backsplash tile, faux granite counters, and a combination of luxurious European-inspired tile and laminate flooring. The apartment layouts were planned with large living rooms, separate dining areas, and full-size bathrooms. Community features include twenty off-street private assigned parking spaces, professionally landscaped grounds with beautiful flowers, enclosed outdoor spaces for grilling and outdoor dining shaded by tropical trees, onsite laundry facilities, and secure bike storage. Every apartment is individually equipped with modern central heating and air conditioning systems that provide year-round comfort. Electricity is metered separately and paid by tenants. City provided water and trash collection service is paid by the owner. Hot water is supplied by efficient individual in-unit tanks. Ranked by Tripadvisor the Number One beach in the United States, and Number Five beach in the World, St Pete Beach attracts vacationers from around the globe who enjoy walking for miles looking for shells in the sand, and dolphins in the surf. The location of the Property, undoubtedly its most prominent feature, places it a block to public beach access at Upham Beach Park where residents find wide stretches of powdery sand along the glittering emerald-green waters of Floridas Gulf Coast. After a relaxing day of fun in the sun on St Pete Beach its time to shop, dine, and unwind in the Historic Corey Avenue Shopping District. For more than six decades this shoppers paradise has thrived as the heart of St Pete Beach with its historic theater, unique specialty shops, art, craft, and jewelry galleries, clothing stores, and imaginative gift shops. Locals and visitors alike enjoy breakfast, brunch, lunch, or dinner at one of the many wonderful Corey Avenue restaurants offering casual fare to fine dining and entertainment.
Exterior Features

Carport Yn No Construction Materials BlockConcreteStucco Covered Spaces 0 Exterior Features FencedLightingOtherRain GuttersSliding DoorsStorage Foundation Details Slab Lot Size Dimensions 100X100 Open Parking YN No Pool Private Yn No Road Surface Type Asphalt Roof Built-Up Water Access Yn No Water Extras Yn No Water View Yn No Waterfront Feet Total 0 Waterfront Yn No

Interior Features

Cooling Central Air Cooling YN Yes Fireplace Yn No Heating CentralElectric Heating YN Yes Interior Features Ceiling Fans(S)Living Room/Dining Room ComboThermostatWindow Treatments Sewer Public Sewer Water Source Public

Property Features

Annual Net Income 215045 Association Yn No Cdd Yn No Flood Zone Code Ae Garage Yn No New Construction Yn No Ownership Fee Simple Property Sub Type Multi-Family Senior Community Yn No Special Listing Conditions None Tax Annual Amount 13637.18 Total Annual Fees 0 Total Monthly Fees 0 Utilities Cable AvailableElectricity ConnectedPublicSewer ConnectedWater Connected


Listing information © 2023 My Florida Regional MLS DBA Stellar MLS..
Listing provided courtesy of Coldwell Banker Realty: 727-581-9411.



© 2023 My Florida Regional MLS DBA Stellar MLS. All rights reserved. All listings displayed pursuant to IDX. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided for consumers personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Data last updated 2023-06-06T21:43:07.547.
 
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