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$2,833,525

Beautiful South Pasadena apartment building. Exceptional opportunity to acquire Hibiscus Place Apartments, a rare,12-Unit Multifamily Investment in South Pasadena, Florida. This architecturally unique, high-demand, apartment building features a private central courtyard which showcases a double return central staircase and is located in an upscale residential neighborhood only one block from Boca Ciega Bay. The property is currently 100% occupied, generating approximately $228,920 in annual gross income. The offering represents an attractive opportunity to acquire an established, income-producing multifamily asset in a highly sought-after Gulf Coast location at a 5.4% cap rate. 12 units - Two 2 bedroom/2 bath, Two 2 bedroom/1 bath and Eight 1 bedroom/1 bath. In last 5 yrs - 30 year roof coating 2023, 5 new air conditioning units, updated laundry facilities, multiple kitchen/ bathroom/ flooring/ appliances, two asphalt parking lots updated and maintained regularly, landscape upgrades. 16 parking spaces (10 in front and second lot in the back. Short drive to St Pete Beach. Walk to shopping and restaurants.

Pasadena On The Gulf Sec C SubDv. ⋅ 33707 Zip Code

7025 Hibiscus Avenue S, South Pasadena

$299,999

HUGE PRICE REDUCTION! Sought after premier lot located in a true walk-to-all location with RM-10 zoning in the heart of highly desirable South Pasadena, just minutes from St Pete Beach, Central Avenue and Pinellas Trail. In particular interest to developers, this nearly .3 acre parcel possesses the by-right potential for the development of up to 2 separate dwelling units. It currently possesses a wood frame single family home with a 1500 gross sq ft footprint with room for 3 bedrooms and plumbing for 3 bathrooms. this home has been remediated to studs (after Helene 2024) and now approved for reconstruction. Reclaimed water irrigation system in place. Additionally, the adjoining CORNER lot (Last Pictures - 7001 Hibiscus), under common ownership is also for sale.This .3 acre property currently has two buildings; a block 1,452 sq ft single family home and a late 1990's compliant pillared three story 6,648 sq ft duplex of which the primary second and third floors (4,200 sf) are intact. 8,100 gross sq ft to re-imagine! First floors have been remediated to studs, buildings are structurally sound and ready for you to rebuild or renovate and enjoy multiple streams of rental revenue. Owner may consider hold on combined lots or 7001 only. Recent surveys upon request. We use Professional Title Solutions only-NO WHOLESALERS!!

3 Beds ⋅ 3 Baths ⋅ Pasadena On The Gulf Sec C SubDv. ⋅ 33707 Zip Code

7011 Hibiscus Avenue S, South Pasadena

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