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500 Bayview Dr NE
St. Petersburg, FL
Sale Price:
$1,700,000
Property Size:
8 Units
Year Built:
1970
Lot Size:
0.57 AC
Property Type:
Multifamily
Zoning:
NSM-1
Davis Nunneley has sold the last of the Greenland Apartments portfolio with the $1,700,000 sale of 500 Bayview Dr NE, an 8 unit Multifamily Property on Snell Isle. The entire portfolio, including 900 1st St N and 105-117 7th Ave N, consisted of 37 Multifamily units that sold for a total of $6,650,000. Despite below market rents across all properties and a small amount of hurricane damage to the property on Snell Isle, Davis was able to secure a purchase price of just under $180,000/unit, showing strength in the St. Pete Multifamily market.
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