415 3rd Street N, St Petersburg, FL 33701

Description

Located in the heart of Downtown St Petersburg's Urban Core, 415 Third St N Apartments is a short walk to iconic Beach Drive, St Pete’s de facto hub for exquisite dining, sophisticated nightlife, chic galleries and boutiques, a world-class art museum, and superb people watching. Downtown St Petersburg is considered by many the most dynamic and Cosmopolitan Urban Metro in Florida, and possibly the country. Popular for its expansive Tampa Bay Waterfront that features the lush green space of Vinoy Park with its sports and aquatic complex, fitness trails, beach volleyball courts, dog parks, and so much more, St Pete's varied attractions include the New St Pete Pier featuring a natural shoreline beach, the Watch Discovery Center, and St Pete Museum of History. And just beyond the Pier in the Waterfront Arts District, culture and art enthusiasts will find inspiration at the Dali Museum and Mahaffey Theater. Adjacent to and immediately north of Downtown St Petersburg, the leafy redbrick avenues and beautiful stately homes of Historic Old NE make this neighborhood one of the most desirable in all of Tampa / St Petersburg. Originally constructed by master craftsmen in 1920, presumably as a Luxury Estate, this very well-maintained Property has been operational as a Multifamily Quadraplex at essentially 100% Occupancy. The Property's Apartments include an Entire First-Floor Two-Bedroom / Two Bath (1,500 sqft approximately), Two Second-Floor One-Bedroom / One-Bath Apartments (one each 1,000 & 650 sqft approximately), and Studio (300 sqft approximately) situated above the detached Garage. Residences are appointed with quality modern fixtures, a full-compliment of appliances, low-cost efficient window air conditioning systems, vintage Florida-inspired bathrooms, and natural hardwood floors. Two Apartments have private enclosed verandas. The Property also features Landscaped Grounds, a Private Garage, off-street parking, and onsite Laundry facilities with secure Bike Storage. The expansive size and unique configuration of this Vintage 1920 Property present the possibility for converting it back its Original 1920 Estate Home design, in which case the Third Floor Attic may also be finished as additional space for a Home Office, Art Studio or another Bedroom. Constructed of sturdy masonry brick, the Property enjoys great visibility with excellent curb appeal. Note, ceiling light fixture in the first floor dining room / home office does not convey. With seven museums, dozens of galleries, over nine hundred annual events attracting more than ten million visitors to festivals, art and music exhibits, yacht races, and sporting events, Downtown St Petersburg is arguably the most desirable place to live, work, and play in Metro Tampa Bay. Further enhanced by a thriving employment market, and outstanding educational options, tenants enjoy a lifestyle that is second to none. Living and working in St Petersburg is especially appealing to the progressively younger, diverse, and more affluent population migrating to the vibrant and exciting Tampa Bay region. 415 Third St N Apartments operates as an efficient turnkey commercial investment property, qualifying it as an ideal acquisition candidate for the discerning investor seeking to establish a foothold in St Petersburg’s multifamily market, satisfy a pending 1031 Exchange, enhance and diversify their existing portfolio of high-quality assets, or conversion to its Original design as a Luxury Urban Estate.