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945 Crescent Lake Drive, Saint Petersburg, FL, 33701

Crescent Lake Apartments
$1,250,000

Key Information

Cap Rate
6.1%
$ per SF
$288
Tot. SF
4,340
Lot Size
0.15 Acres
Year Built
1920
Type
Apartments
NOI
$76,252

Highlights

• Direct Access To Tampa, Clearwater, and The Gulf Beaches
• 100% Occupied
• Two clearly identified upside levers — activation of vacant on-site storage units ($12,000 of annual income) and mark-to-market on the month-to-month rent roll
• Year 3 stabilized NOI of $83,472, a 6.68% cap rate at the list price
• Crescent Lake Apartments sit directly across from Crescent Lake Park, a 56-acre lake and public park
• Downtown Saint Petersburg and the Central Avenue corridor are approximately 1 mile south
• Interstate 275 provides direct access to Tampa, Clearwater, and the Gulf beaches
• The roof was fully replaced in 2025, and unit appliances have been updated
• Seller Financing 70% LTV @ 5.5% IO 5-Year Term

Photos

Location

Agents

Broker of Record

Kyle Matthews

License # BK3554632, CQ1066435 (FL)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203