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Enclave at Sabal Pointe 2148 54th Ave S 240 Unit Apartment Building For Sale Saint Petersburg, FL 33712
INVESTMENT HIGHLIGHTS
- Excellent Floor Plans with the Largest Apartments Offered in the Market, Averaging 1,164 SF with Desirable Mix of 1-, 2- and 3- Bedroom Units
- Well-Maintained Community with Significant Recent Capital Improvements Totaling Over $3.9MM
- Situated Conveniently Between Downtown St. Petersburg and the World-Famous Gulf Beaches, Close to Employment and Entertainment Options
- Value-Add Opportunity with 83.3% of Units Still Able to Be Renovated to Achieve Premium Rents
- Significant Value-Add Opportunity with $215+ in Average Monthly Rental Upside Through Renovations and Loss-to-Lease Recapture
- Great Connectivity Just 1-Mile to the Interstate 275 On-Ramp, with Direct Access to Major Markets of Tampa, St. Petersburg, and Bradenton
EXECUTIVE SUMMARY
Enclave at Sabal Pointe is a 240-unit apartment community ideally positioned near Downtown St. Petersburg, Florida, offering one of the most attractive value-add investment opportunities in the market. Featuring the largest floor plans in the area—averaging 1,164 square feet—this well-maintained property presents a desirable mix of one-, two-, and three-bedroom units. With 83.3% of apartments still eligible for interior renovation, investors can unlock significant rental upside, supported by $215+ in average monthly premium potential through upgrades and loss-to-lease recapture. Recent capital improvements totaling over $3.9 million—including new roofs, upgraded amenities, and enhanced curb appeal—have laid a strong foundation for continued value creation.
Located in a high-barrier-to-entry area of Pinellas County, Enclave at Sabal Pointe is strategically situated between the vibrant core of Downtown St. Pete and the renowned Gulf beaches, offering residents convenient access to employment hubs, entertainment, and retail. The community benefits from proximity to the Skyway Marina District, home to the transformative $750 million “Sky Town” redevelopment project, and boasts easy connectivity just one mile from I-275. With no competing market-rate multifamily properties under construction within a one-mile radius and a projected 5.5% annual rent growth through 2030, this offering combines stability with exceptional long-term growth potential.
Located in a high-barrier-to-entry area of Pinellas County, Enclave at Sabal Pointe is strategically situated between the vibrant core of Downtown St. Pete and the renowned Gulf beaches, offering residents convenient access to employment hubs, entertainment, and retail. The community benefits from proximity to the Skyway Marina District, home to the transformative $750 million “Sky Town” redevelopment project, and boasts easy connectivity just one mile from I-275. With no competing market-rate multifamily properties under construction within a one-mile radius and a projected 5.5% annual rent growth through 2030, this offering combines stability with exceptional long-term growth potential.
PROPERTY FACTS
| Sale Type | Investment | Lot Size | 14.22 AC |
| No. Units | 240 | Building Size | 283,123 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1973 |
| Apartment Style | Garden | Parking Ratio | 1.77/1,000 SF |
| Building Class | C | ||
| Zoning | RM-10, St Petersburg | ||
| Sale Type | Investment |
| No. Units | 240 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 14.22 AC |
| Building Size | 283,123 SF |
| No. Stories | 2 |
| Year Built | 1973 |
| Parking Ratio | 1.77/1,000 SF |
| Zoning | RM-10, St Petersburg |
AMENITIES
UNIT AMENITIES
- Dishwasher
- Kitchen
- Refrigerator
- Oven
- Range
SITE AMENITIES
- Business Center
- Clubhouse
- Fitness Center
- Laundry Facilities
- Playground
- Pool
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 92 | - | 780 - 870 |
| 2+1.5 | 28 | - | 1,400 |
| 2+2 | 84 | - | 1,200 |
| 3+2.5 | 36 | - | 1,700 |
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PROPERTY TAXES
| Parcel Number | 12-32-16-25833-000-0001 | Improvements Assessment | $36,659,122 CAD |
| Land Assessment | $10,366,836 CAD | Total Assessment | $47,025,959 CAD |
PROPERTY TAXES
Parcel Number
12-32-16-25833-000-0001
Land Assessment
$10,366,836 CAD
Improvements Assessment
$36,659,122 CAD
Total Assessment
$47,025,959 CAD
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Enclave at Sabal Pointe | 2148 54th Ave S
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