626 35th Avenue S
Saint Petersburg, FL 33705

Split 3 existing lots with 2 rental SFRs into 5 lots with 5 SFRs and 5 ADUs!Develop a total of 5 single family homes on 5 parcels on a combined .58 acres.Develop 10 total units on 5 parcels! Exit by selling each lot separately or operate as a multifamily property.The City of St. Petersburg will allow an ADU built on eachproperty.Currently, the 2 Single Family Homes have short term tenantsin place. The sellers are utilizing the online platform, Padsplit,to lease each room individually at an average of $960 /month. The houses are fully occupied.Both existing SFRs have been renovated.626 35th Ave. S is a 6 bedroom, 2 bath SFR on .31 Acres. Thecity has indicated, preliminarily, that a developer can split thislot into 3 separate lots. (One lot on either side of the existingSFR.) Renovations include fresh interior and exterior paint.650 35th Ave. S is a 3 bedroom, 1 bath SFR on .19 Acres.Renovations include fresh interior and exterior paint, newfloor joists, new baseboards and LVP Flooring, new doors,new fans, updated kitchen and bathroom. New roof in 2019.Both houses are available furnished with desks, chairs, aqueen bed and rugs as a separate package.The vacant lot in between the 2 houses is known as "35thAvenue S" and is .08 acres.The lots are well positioned just 2 miles South of DowntownSt. Pete, one block from the Grandview Park boat ramp withaccess to Tampa Bay, adjacent to Lake Maggiore and BoydHill Nature Preserve, close to St. Petersburg Country Clubwith Southside Youth Soccer. Lots are in Flood Zone X andzoned NT-1, which allows for ADUs. 15 minutes to the beach!" Your development plan could include razing the existinghomes and building 5 new houses, each with an ADU, orfurther renovate the existing homes, and build 3 new singlefamily homes.Split the 626 35th Ave. lot into 3 separate lots to create atotal of 5 lots.Sell the finished homes individually or add 10 new rental unitsto your portfolio! (5 SFRs and 5 ADUs)" This submarket is poised for growth. A half mile from thesubject property, St. Pete developer, Stoneweg, is beginningconstruction on a new retail plaza and apartment complexsituated in the former Coquina Key Shopping Plaza. The firmplans to build a seven-story apartment building, with 465units. The adjacent 21,000-square-foot retail plaza, to be builtin front of the apartments, will be anchored by a local grocer." There is now greater access for homeowners to securefinancing for properties with ADUs. FHA allows borrowers touse 75% of the estimated rental income to qualify for themortgage. Smart homebuyers can offset the high prices ofnew home construction by leasing their ADU, lowering theirmonthly payment and increasing equity. Developers benefitfrom increased buyer demand and affordability." St. Pete is booming!Nearly 40 large scale residential projects are currentlyunderway in St. Pete. Future job growth over the next 10years is scheduled to be 42%. The Tampa - St. Pete -Clearwater Metro Area is the 2nd largest metro in Florida and18th in the USA.