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Kory Prince

kory@countrywiderealestate.ca +1(604) 270-8774

$1,499,990

Est. payment - /mo

8 Beds

8 Baths

4,938 SqFt

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Key Details

Property Type Multi-Family

Sub Type Multi-Family 5+

Listing Status Pending

Purchase Type For Sale

Square Footage 4,938 sqft

Price per Sqft $303

Subdivision Bayview Add

MLS Listing ID TB8473243

Bedrooms 8

HOA Y/N No

Year Built 1925

Annual Tax Amount $17,418

Lot Size 4,356 Sqft

Acres 0.1

Lot Dimensions 68x60

Property Sub-Type Multi-Family 5+

Source Stellar MLS

Property Description

Under contract-accepting backup offers. RARE FIND – TIMELESS MEDITERRANEAN MULTIFAMILY INCOME PROPERTY IN OLD NORTHEAST. The iconic “Melrose” is a boutique 8-unit residence located in the highly sought after historic “Old Northeast". This neighborhood is recognized as one of St Petersburg's top spots to live, work, and play. Nestled in this famous enclave, which boasts red-brick roads, mature oak shade trees, and splendid homes, the Melrose is a landmark property of the area. Mediterranean architecture with global appeal, this grand building enjoys terrific visibility and brilliant curb appeal. The Melrose boasts classic Mediterranean features; thick stucco exterior walls, barrel tile ornate accents, terra cotta entry steps; and contributing to the character of the neighborhood you will find hexagonal paver sidewalk at front of building. This 2-story multifamily building includes 8 one-bedroom one-bath apartments with living room and eat in kitchens. Gracious interior common lobby, vintage hardwood flooring, newer separately metered electricity, onsite coin laundry in the detached garage building. New roof installed 2025! Efficient tankless gas hot water heater! Coin laundry provides additional revenue. Fully occupied, annual leases, long term tenants, and high-demand, rarely are there any vacancies in this building. HIGH AND DRY LOCATION, NO FLOOD INSURANCE REQUIRED. This stately property is 3 BLOCKS to popular Beach Drive NE and the vibrant urban core of downtown St Petersburg where you will find state of the art galleries, North shore Aquatic Complex, waterfront parks, the new iconic Pier, boutiques, a wide variety of restaurants, bars and live entertainment plus music and art festivals. This property is an ideal procurement for the savvy investor striving to complete a 1031 Exchange, expand a portfolio, or acquire a solid investment property in an established market.

Location

Province FL

County Pinellas

Community Bayview Add

Area 33701 - St Pete

Direction NE

Interior

Interior Features Ceiling Fans(s), Eat-in Kitchen

Heating Ductless

Cooling Wall/Window Unit(s)

Flooring Linoleum, Wood

Fireplace false

Appliance Dryer, Gas Water Heater, Range, Refrigerator, Tankless Water Heater, Washer

Laundry Common Area, Laundry Room

Exterior

Exterior Feature Lighting, Sidewalk, Storage

Parking Features Off Street, On Street

Garage Spaces 1.0

Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Public, Sewer Connected, Water Connected

View City

Roof Type Built-Up

Attached Garage false

Garage true

Private Pool No

Building

Lot Description City Limits, Sidewalk

Foundation Crawlspace

Lot Size Range 0 to less than 1/4

Sewer Public Sewer

Water Public

Structure Type Stucco,Frame

New Construction false

Others

Senior Community No

Ownership Fee Simple

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition None

Virtual Tour https://www.propertypanorama.com/instaview/stellar/TB8473243

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Listed by Carol Giovannoni RE/MAX PREFERRED

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