Description
Investor Alert! Check out this flip opportunity in North St. Pete with solid numbers. Property is located at 81st Ave N, Saint Petersburg, FL 33702. Asking $219k with an ARV of $350k+-, after renovations. It’s a 3 bed, 1 bath with 1,210 sqft on a 6,054 sqft lot. The bones are solid – roof is 6 years old, and both electrical and plumbing have been updated (including new street-to-house plumbing, updated electrical panel/wiring, and new outlets).
Here’s what needs work: AC replacement, full kitchen update, bathroom remodel, all new appliances, new flooring throughout, and new windows. The water heater is over 5 years old and should be replaced. The house did take 10 inches of water during the recent storm, but seller has already bleached and cleaned the affected areas. Some trash removal will be needed.
Recent comps support the ARV: A 2/1 with 1,427 sqft just sold for $395k in July 2024 (138 81ST AVE NE), another 2/1 with 825 sqft sold for $335k in September 2024 (8120 RIVERSIDE DR N), and a 2/1 with 688 sqft sold for $305k in June 2024 (8462 TOBAY RD N). All comps were updated properties. You have a bunch of actives, but don’t let that scare you. If you look, almost every one of them needs work and is priced closer to retail. The ones that are rehabbed are still moving quick.
Quick facts investors should know: Built in 1958, no HOA or restrictions, city water/sewer, wood frame construction, and it’s in a flood zone. Property is being sold as-is and the signed assignment contract price is final.