$1,250,000
Active · 306 days on market · MLS# MFRTB8425352
| Bedrooms | 0 |
|---|---|
| Living area | 555 sq ft |
| Year built | 1973 |
| Property type | Multi-Family 5+ |
| Private pool | Yes |
| Waterfront | Yes |
| HOA fee | $386 |
| Annual taxes | $1,255 |
| County | Pinellas |
For the investor seeking immediate income and future upside, this 13-unit income-producing portfolio in the Parklane Condominiums offers an exceptional blend of stability, location, and scale. The mix consists of eleven one-bedroom units and two two-bedroom units, FULLY LEASED, and gross rental potential exceeding $15,000/monthly. The property is situated in a high-demand rental corridor just minutes from downtown St. Petersburg, with direct access to I-275, 4th Street, major employers, and public transportation. Parklane has had consistent demand and minimal vacancy. The portfolio benefits from an investor-friendly HOA structure that covers nearly all exterior operational costs, including maintenance, roof reserves, pool service, water, sewer, trash, cable, and landscaping, providing a passive ownership profile with reduced management complexity. Tenants enjoy a gated, well-maintained community with a shared pool, green space, and common areas that promote long-term retention. Whether you are expanding an existing portfolio or executing a 1031 exchange, this stabilized asset offers immediate income, operational efficiency, and strong fundamentals in a rapidly appreciating urban market.
Listing courtesy of Mary Gillam, LOMBARDO TEAM REAL ESTATE LLC. Presented by MC Homes Realty Inc · 727432218.