Crissman Drive Apartments 5633 Crissman Dr N Immeuble residentiel 8 lots 844 838 € (105 605 €/Lot) Taux de capitalisation 6,15 % Saint Petersburg, FL 33714

The Multifamily Firm is pleased to present the Crissman Drive Apartments, an 8-unit multifamily property in St. Petersburg, Florida. This asset offers an exceptional value-add opportunity with below-market rents and measurable upside supported by government-subsidized housing programs offering $600–$900 per month higher rent potential. Situated on a 0.53-acre parcel, the property includes a 7-unit apartment building and a detached Two-Bedroom house. The main building is fully sub-metered for water, allowing immediate recapture of utility expenses and improved NOI. Built in 1979 with durable masonry construction and a new roof, the property provides a solid foundation for efficient, long-term ownership. Located in a non-flood zone (Zone X), the property sits within 10 minutes of both Downtown St. Petersburg and the Gateway Business District—home to more than 2,700 businesses and 60,000 employees. Potential seller financing is available for qualified buyers, negotiable based on price and terms. The Crissman Drive Apartments can also be purchased as part of a 21-unit portfolio including the adjacent 13-unit property, or a 33-unit portfolio adding another 12-unit asset half a mile south. Combining strong fundamentals, rental upside, and scalable ownership potential, this property stands out as a compelling investment in one of Tampa Bay’s most resilient multifamily markets. For financial info & full details, please view the property Offering Memorandum document!