Step into an exceptional investment opportunity in the heart of historic Tarpon Springs, Florida. Welcome to Aléxandros ho Mégas (Alexander the Great) Apartments, a chic 12-unit multifamily residence full of charm and potential.
Strategically located at 218 N Pinellas Avenue, this building is adorned with a mix of diverse residential units to match every lifestyle. Each unit has been tastefully renovated with contemporary updates that distinguish it from the rest. Discover three two-bed/one-bath units, seven one-bed/one-bath units, one cozy studio, and a functional management office suite, all refined to offer the ultimate modern living experience.
The recently renovated building boasts a fresh look with striking new flooring and a polished paint job. Delight in the sleek modern kitchen cabinets accentuated by quartz countertops and brand new appliances. The bathrooms have been stylishly upgraded, ensuring that each unit has its unique aesthetic appeal. The structure has been further reinforced for a robust architectural resilience.
Beyond the eye-catching interior, the renovations also provide significant practical benefits. From new, secure entrances, durable and resistant flooring, to a modern electrical system with LED lighting, efficient gas, and plumbing systems, the property oozes contemporary charm while standing strong against the elements. This resilient gem remains unscathed, having avoided recent flood or hurricane damage.
218 N Pinellas Avenue is a compelling venture for investors. It commands a desirable low maintenance profile with a solid potential for rental income. It boasts a historically high occupancy rate and an attractive return on investment at 7.64%. The property guarantees a secure monthly income with estimated rentals ranging from $500 for the office space to $1,700 for two-bed units.
Beyond the appealing financial metrics, this property is set in a context rich with culture. The neighborhood charms with its history, dating back to 1876. Down the street, you'll find the iconic Tarpon Springs sponge docks, vibrant festivals, and a diverse culinary scene, making it a popular choice for tenants.
The building's location offers easy access to local gems like the scenic Anclote River and stunning local parks and beaches. An added bonus is access to essential amenities like the Florida Hospital North Pinellas and St. Pete College, all within 2 miles.
In addition, this property is walking distance from shopping centers and has swift access to major highways. With a Walk Score rating of 85, the convenience and connectivity on offer are unparalleled, signalling great potential for future redevelopment opportunities.
218 N Pinellas Avenue isn't merely a building; it's an investment promising a profitable return with an engaging cultural experience. It's a chance to be part of the dynamic life of Tarpon Springs while you enjoy the fruits of a grand investment.
