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Sun Cove Apartments 5680 28th St N 13 Unit Mobile Home Park $1,970,063 CAD ($151,543 CAD/Unit) 6.95% Cap Rate Saint Petersburg, FL 33714
EXECUTIVE SUMMARY
The Multifamily Firm is pleased to present the Sun Cove Apartments, a 13-unit multifamily property in St. Petersburg, Florida. The asset offers a strong value-add opportunity with below-market rents and $600–$900 per month upside supported by government-subsidized housing. Situated on 0.69 acres, the property features 3 duplexes and 7 mobile homes with water sub-metering in-place, allowing immediate recapture of utility expenses and improved NOI. Recent updates include a new roof on one duplex and a newer mobile home with central A/C. Located in a non-flood zone (Zone X), Sun Cove Apartments sits just 10 minutes from Downtown St Petersburg and the Gateway area with 2,700+ businesses and 60,000+ employees. Seller financing is available for qualified buyers, negotiable based on price and terms. The property may also be purchased as part of a 21-unit or 33-unit portfolio with nearby assets, providing scale and upside in one of Tampa Bay’s strongest multifamily markets. For financial info & full details, please view the property Offering Memorandum document!
PROPERTY FACTS
| Price | $1,970,063 CAD | Building Class | C |
| Price Per Unit | $151,543 CAD | Lot Size | 0.69 AC |
| Sale Type | Investment | Building Size | 5,200 SF |
| Cap Rate | 6.95% | Average Occupancy | 100% |
| No. Units | 13 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1941 |
| Property Subtype | Manufactured Housing/Mobile Home | Opportunity Zone |
Yes
|
| Apartment Style | Garden | ||
| Zoning | C-2 | ||
| Price | $1,970,063 CAD |
| Price Per Unit | $151,543 CAD |
| Sale Type | Investment |
| Cap Rate | 6.95% |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.69 AC |
| Building Size | 5,200 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1941 |
| Opportunity Zone |
Yes |
| Zoning | C-2 |
1 1
Walk Score®
Very Walkable (70)
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Sun Cove Apartments | 5680 28th St N
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