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For Sale: Sans Souci Apartments
| Price: | $1,397,000.00 |
| City: | St. Petersburg |
| State: | FL |
| Zip: | 33701 |
| No. of Units: | 28 |
| Cap Rate: | 8.31 |
| NOI: | 116053 |
| Unit Mix: | 5-Effic. 18-1 Beds 3-2 Bed 1 Bath - 1 House |
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Property Info:
The Sans Souci was originally built as a fine, downtown St. Petersburg hotel and functioned as such for years until it’s conversion into apartments. The 28 units consist of 25 units as part of the main building which is 3 stories. There are 2 efficiency units detached above garages and the laundry center. The 28th unit is two bedroom, one bath home facing Dartmoor St. as does the main building. Garages are currently used as storage but should be converted to parking on an income basis. The original hotel elevator is still workable. The building is up to all St. Petersburg building codes.
Location Info:
The buildings are located within walking distance to downtown, the waterfront and many city parks. This is primarily a single family neighborhood situated around Round Lake but close to the 4th Street corridor which has upscale restaurants and a variety of retail including grocery and pharmacy. St. Anthony’s Hospital is also within walking distance. The building has appeal for residents who don’t drive or have a vehicle as public transportation is excellent. Sans Souci has charm and offers an opportunity for a new owner to take the property to the next level.
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