6453 Wayne Street North

St. Petersburg, FL 33702

Listing ID: 142935
$925,000
For Sale
  • Lot Size Acres 0.000
  • Building Sq Ft 12,934
Description
Highlights

  • 6 GORGEOUS SINGLE FAMILY HOME PORTFOLIO

  • SELLER FINANCING AVAILABLE!

  • 40% Down, 4.75% IR FIXED, INTEREST ONLY PAYMENTS, 24 MONTH BALLOON.

  • CASH-ON-CASH RETURN OF OVER 14%!

  • ABILITY TO INCREASE CASH-ON-CASH RETURN TO OVER 17% BY 2020.

  • 100% OCCUPIED



  • MASSIVE SINGLE-FAMILY HOMES WITH AN AVERAGE OF OVER 3.5 BEDROOMS PER HOME!

  • LOW RENTAL RATES IN-PLACE, GIVING THE BUYER THE ABILITY TO INCREASE THEIR RATE OF RETURN INSTANTLY!

  • HOMES BEING SOLD AT A DISCOUNT AS A PORTFOLIO!

  • ALL HOMES HAVE BEEN RECENTLY RENOVATED AND ARE IN EXCELLENT CONDITION!

  • HOMES LOCATED IN EXCELLENT LOCATIONS WITH LONG-TERM TENANTS IN-PLACE!


Description

THE ST. PETERSBURG PORTFOLIO CONSISTS OF 6 GORGEOUS SINGLE- FAMILY HOMES, LOCATED IN AMAZING LOCATIONS ACROSS ST. PETERSBURG AND CLEARWATER FL. THESE IMMACULATE HOMES ARE ALL RECENTLY REDONE, AND IN FANTASTIC CONDITION. EACH HOME IS OVER 980 S/F WITH AT LEAST 3 BEDROOMS! THIS PORTFOLIO IS 100% OCCUPIED ON YARLY LEASES AT BELOW MARKET RENTAL RATES, MAKING THIS A FANTASTIC INVESTMENT OPPORTUNITY.


THE ST. PETERSBURG PORTFOLIO IS AN AMAZING OPPORTUNITY FOR AN INVESTOR TO ACQUIRE 6 INCREDIBLE SINGLE-FAMILY HOMES IN AMAZING LOCATIONS. WHILE EACH UNIT IS CURRENTLY OCCUPIED, THE RENTAL RATES AT EACH PROPERTY IS BELOW THE AVERAGE MARKET RATE IN THE AREA. THIS GIVES THE BUYER THE ABILITY TO ACQUIRE THIS PORTFOLIO WITH FANTASTIC LOCKED IN INCOME, THAT WILL ONLY RISE AS THE RENTAL RATES ARE INCREASED. UPON PURCHASING THIS AMAZING PORTFOLIO, A BUYER CAN OBTAIN A CAP RATE OF OVER 8.3% AND A CASH-ON-CASH RETURN OF OVER 14% IN 2019. WITH THE ABILITY TO INCREASE THE EXTREMELY LOW RENTAL RATES INSTANTLY, THE PORTFOLIO CAN ECLIPSE A 9% CAP RATE AND A CASH-ON-CASH RETURN OF OVER 17% IN 2020.


Additionally, MOST OF THE CURRENT IN-PLACE LEASES WILL BE COMING UP FOR RENEWAL IN THE NEXT 3-6 MONTHS. THIS WILL ALLOW THE BUYER TO RAISE THE RENTAL RATES INSTANTLY AND INCREASE THEIR RETURNS IN THE PROCESS. THE CONDITION OF EACH HOME ALONE CARRIES A TON OF VALUE AS THE BUYER WILL HAVE LIMITED TO NO COST FOR RENOVATIONS ON THE PROPERTY. THE SELLER HAS DONE A FANTASTIC JOB IN UPDATING AND RENOVATING THESE HOMES! THIS WILL MAKE IT VERY EASY FOR A BUYER TO MANAGE THESE UNITS FROM ANYWHERE AND OFFERS THE BUYER THE ABILITY TO SELF MANGE THIS ASSET, DECREASING EXPENSES AND INTURN INCREASING THEIR RETURN!


EVEN BETTER, IS THE FACT THAT THE SELLER IS INTERESTED IN DOING SELLER FINANCING ON THIS PROPERTY. CURRENTLY, THE SELLER IS ASKING FOR (APPROX) THE FOLLOWING TERMS: $40% DOWN (TO COVER CURRENT DEBT), 24 MONTH BALLOON, 4.75% INTEREST ONLY PAYMENTS, AMORTIZED OVER 30 YEARS. ITS IMPOSSIBLE TO FIND TERMS THIS GOOD ANYWHERE ELSE. WITH THE ABILITY FOR INTEREST ONLY PAYMENTS THE MONTHLY DEBT SERVICE WILL BE UNDER ANY RATE A BANK CAN PROVIDE. THIS GIVES THE BUYER AN AMAZING CASH-ON-CASH RETURN IMMEDIATELY. WHEN THE RENTAL RATES ARE RAISED TO THE MARKET AVERAGE, THE CASH ON CASH RETURN WILL SKYROCKET!


EACH SINGLE-FAMILY HOME HAS BEEN UPDATED IN THE PAST 2 YEARS. FOR A FULL LIST OF ALL RENOVATIONS AT THE PROPERTY PLEASE SEE PAGE 11 OF THIS OFFERING MEMORANDUM!


Location

THIS INCREDIBLE SINGLE-FAMILY HOME PORTFOLIO IS LOCATED IN MULTIPLE LOCATIONS ACROSS BEAUTIFUL ST. PETERSBURG AND CLEARWATER FL. CLOSE IN PROXIMITY TO WORLD FAMOUS CLEARWATER BEACH, THESE PROPERTIES ARE IN IDEAL LOCATIONS!


THE HOMES ARE LOCATED AT THE FOLLOWING ADDRESSES:


1. 6453 Wayne St N, Saint Petersburg, FL 33702


2. 1148 Howard St, Clearwater, FL 33756


3. 4642 19th Ave S, Saint Petersburg, FL 33711


4. 5763 Crestmont St, Clearwater, FL 33760


5. 8537 Cameo Dr, New Port Richey, FL 34654


6. 3433 Richboro Dr, Holiday, FL 34691

Attachments & Files
Location & Directions
Demographics

All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.

1-Mile Radius 3-Mile Radius 5-Mile Radius
Total Population13,118121,254272,568
Population Median Age424242
Population by Age0-9 Yrs13231310227138
10-19 Yrs11561168125088
20-29 Yrs19791547435926
30-39 Yrs16531561336152
40-49 Yrs16031580434774
50-59 Yrs21321922042341
60-69 Yrs19451566436107
70+ Yrs13271469735043
Median HH Income$34,866$45,062$49,926
Total Household Income< 24K19641264827460
25-49K16781421329923
50-74K772929120955
75-99K425579213492
100-199K524643818335
200K+439654460
Highest Education LevelNo Diploma19971240522803
Diploma or GED32502945860356
Some College24151953742818
Assoc. Degree709856019761
Bachelors Degree10921373538906
Higher Degree457610620386
Total Housing Units6,67757,928137,010
--Owner-Occupied3,40032,00771,056
--Renter-Occupied2,00617,34143,569
Owner-Occupied Values< 100K17781113421151
100-199K11821395525436
200-299K298445612207
300-399K4211324816
400-499K355342574
500K+657954871
Total Working Age Population11,161100,970229,869
In Work Force6,95462,999144,117
Not In Work Force4,20837,97185,752
Workforce Employed6,35759,338136,286
Workforce Unemployed5063,4647,371
Civlian Workforce6,86362,802143,657
Military Workforce91197461
Total Households5,40649,348114,625
Family Households2,83127,08660,913
Non-Family Households2,57622,26253,712
Married Couple1,67817,32041,739
Other Family1,1539,76619,174
Married w/Child5595,68213,002
Single Male w/Child2011,5932,622
Single Female w/Child3763,0946,373

Population Change Last Two Decades - Plus Projection

2000%2010%2020%2030
Florida15,982,378+1818,801,310+1421,517,610+1324,340,457
Pinellas County921,482-1916,542+7983,883+51,034,290

No part of this information may be copied, reproduced, repurposed, or screen-captured for any commercial purpose without prior written authorization from MyEListing.

While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

Listing Agent
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