John Burpee & Associates is proud to announce the sale of the sale of the 7th Ave Apartments located at 742 7th Ave N, St. Petersburg Fl for $1,200,000. The 8-unit
property was in excellent condition having undergone a recent renovation of both exterior and interior improvements over the last 3 years.
The property closed at a 7% cap rate and marks one of the first sales in the market reflecting the change in values for the apartment industry due to
increased interest rates.
John Burpee was the listing broker of the property, and the seller was a 20+ year client of the firm. The property received multiple offers during the marketing period and was sold to a local all cash investor.
If you have an interest in selling your Apartments or income producing commercial real estate, please call us today as we have buyers waiting!
For more information please contact John Burpee 727-828-9498 John@Burpeecommercial.com