2000 Dr Martin Luther King Jr St., St. Petersburg, FL 33705

Incredible investment opportunity! Being offered for two months only or the sellers will move forward with the project themselves. Value-add triplex located in an Opportunity Zone and a HUB zone with CRT-1 zoning and NTM-1 overlay meaning tons of use options and increased density along with amazing tax efficiencies. All three units are 2BR/1BA units. Additionally. the property is BLOCK construction, NON-flood zone, and comes with a 2 car garage. The remodel is already in progress with STAMPED plans! The City of St. Petersburg has APPROVED $98,000 in transferrable grant funding through the Rebates for Affordable Residential Rehabs (RRR) program toward the total remodel cost of $244,700 with a general contractor ready to start right away. In return, the property qualifies for 15 years of affordable housing rentals. Current affordable rent for 2BR units in 33705 is $2,343/month, meaning this property would generate around $85,000 in income per year and almost half of the remodel cost would be covered through the grant program. Call today and seize one of the most lucrative multifamily opportunities!