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Pinellas County
Single Family Portfolio
For More Information
Contact:
John Burpee
727 828 9498
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
11683 87th Street N
Largo, FL 33773
727-828-9498
BurpeeCommercial.com
Available for Sale
Single Family Home Portfolio
Pinellas County, FL
Confidentiality Agreement and Disclaimer
This will serve as notice regarding the use of
certain material, data and information contained
herein (“Evaluation Material”) which we have
made available to you in connection with a possible
purchase of the property by you or your client. As
a prerequisite to your accepting and utilizing the
Evaluation Material, you hereby represent and
agree as follows:
The Evaluation Material furnished by us will be
used solely for evaluating a possible transaction
exclusively for your own account, as principal in
the transaction, and not as a broker or agent for
any other person. Therefore, you agree to keep all
Evaluation Material strictly confidential; provided
however, that any of such Evaluation Material may
be disclosed to your directors, officers or employees
as well as your counsel, accounting firms and
financial institution who need to know such
information of the purpose of assisting you with
your possible purchase of the Property. Such
directors, officers employees, lawyers, financial
institutions and accountants shall be informed by
you of the confidential nature of such information
and shall be directed by you to treat such
information with strict confidence.
Although we have endeavored to include in the
Evaluation Material, information which we believe
to be accurate and relevant for the purpose of
helping you in your evaluation of the Property for
possible purchase, you understand and
acknowledge that neither the Owner of the
Property nor John Burpee & Associates (“Agent”)
make any representation or warranty as to the
accuracy or completeness of the Evaluation
Material except as set forth in a definitive
agreement. You agree that neither the Owner nor
the Agent shall have any liability to you as a result
of your use of the Evaluation Material except as set
forth in a definitive agreement and it is understood
that you are expected to perform such due diligence
investigations and inspections of the Property as
you deem necessary or desirable and as permitted
by agreement with the Owner of the property.
You also represent that no broker or agent
represents you or will represent you in any possible
transactions involving the Property unless you
disclose it in writing to John Burpee & Associates
prior to the receipt of the Evaluation Material and
you fully agree to compensate your broker or agent.
Neither Agent nor the Owner is responsible for any
compensation to be paid to your broker or agent
whatsoever.
Table of
Contents
Section 1. Executive Summary
Section 2. 1021 Melrose Ave S
Section 3. 1111 40th Avenue S
Section 4. 1121 11th Avenue S
Section 5. 1225 20th Avenue S
Section 6. 4526 21st Avenue S
Section 7a. 1409 Pennsylvania Ave
Section 7b. 1409 ½ Pennsylvania Ave
Section 8. 1835 23rd Street
Section 9. 5528 29th Street N
Section 10. 2519 Queen Street S
Section 11. 4040 10th Ave S
Section 12. 1921 48th Street S
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 1:
Executive Summary
Offer Price: $1,314,000
John Burpee & Associates is proud to present the St.
Petersburg Portfolio of 11 Single Family Homes.
The portfolio is an excellent opportunity for an investor to
gain immediate economies of scale in the St. Petersburg &
Pinellas county markets. All of the homes are currently
leased or in process of lease with all tenants being
background, criminal and credit checked. Current manager
is willing to stay in place or our firm will manage at current
rates per the Proforma attached.
There is tremendous upside in the ability to raise rents
through renovations and or the section 8 rental program in
the market. Many of the homes have had extensive
renovation and several have new roofs in the last 3 years.
Please call John Burpee at 727-828-9498 or email at
[email protected] for more details
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 1:
Property Summary
1021 Melrose Avenue S, St. Petersburg FL 33705
1111 40th Street S., St Petersburg 33711
1121 11th Avenue S., St. Petersburg FL 33705
1225 20th Avenue S. , St. Petersburg FL 33705
4526 21st Avenue S., St Petersburg 33711
1409 Pennsylvania Ave., Clearwater 33755
1409 1/2 Pennsylvania Ave., Clearwater 33755
1835 23rd Street N., St Petersburg 33712
5528 29th Street N., St Petersburg 33714
2519 Queen Street S, St Petersburg 33712
4040 10th Avenue S., St Petersburg 33711
1921 48th Street S, St Petersburg 33711
Property Summary List
II. PROPERTY DETAILS
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 3:
ProForma
Property Name: Pinellas Portfolio Year 1 Proforma
Total Units: 12 Single Family Homes
Suggested Market Price
Rental Income:
Gross Monthly Market Rents: $12,019.00 At Current Asking Rents
Annual Gross Market Rent $144,228.00
Loss to Lease & Concessions
Current Vacancy Loss $4,326.84 Based on 3% Vacancy Factor
Current Corrected Income $139,901.16
Other Income:
Late Fee's: $2,400.00 Average $100 dollar late fee 20%
Application Income: $1,200.00 Application Income
Non-Refundable Pet Fee's: $1,500.00 Non-Refundable Pet Fee
Misc Income:
Total Other Income: $5,100.00
Total Combined Income: $145,001.16
Operating Expenses:
3rd party Management assume 8% $11,600.09 3rd Party management Expense
Legal fee's: $750.00 Based on 1 Eviction per year
Property Insurance: $4,941.00
Based on Current Policy in
Place
Property Tax Current year: $14,206.00 *Taxes will Adjust to new Basis
Repairs & Maintenance: $7,200.00 $600 Pr Unit Industry Average
Water & Sewer: $4,650.00 Based on T-12 Actual
Misc Expenses: $1,200.00
Total Expenses: $44,547.09
Net Operating Income: $100,454.07
Sale Value of the Property at a 8% Cap $1,255,675.84
II. PROPERTY DETAILS
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 4:
Rent Roll
Notes:
(1) Property Management fee for ALL properties including 8 Units at another owned property
is $2000 per month. This does not include the following Add-0n services:
Eviction Settlement ($350); Attendance at hearing ($250); Negotiating Settlements ($150);
Supervision Fee for Major Repairs (10%)
(2) Property Under Section 8 Rental (HAP)
(3) Property under improvement. Monthly Gross Rent, Property Taxes and Insurance are
estimates.
II. PROPERTY DETAILS
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 2:
Property 1 Details
• Kitchen Cabinets
• Bathrooms, Paint
• Fence
• Interior work
• Doors, Windows
• Landscaping
• Plumbing
• Electrical
Address: 1021 Melrose Avenue S. St. Petersburg 33705
Bedrooms: 3 Year Built: 1948
Baths: 1 1/2 SF Heated/Total: 1,068 / 1,188
Stories: 1 Exterior: Frame/Siding
Roof: Shingle Interior: Drywall
Heating: Central Duct Cooling: Central
Monthly Taxes: $92.53 Monthly Insurance: $34.37
Monthly Gross Rent: 1,394 Monthly Net Rent: $1,267.10
Parcel ID: 25-31-16-85140-000-0240
Land Acres: 0.13 AC Land SF: 5,876 SF
Building
Land
Renovations
2019 Remodel: $21,417.54
II. PROPERTY DETAILS
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 2:
Property 1 Location
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 2:
Property 1 Photos
1021 Melrose Avenue S. St. Petersburg 33705
II. PROPERTY DETAILS
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 3:
Property 2 Details
• Fence Repair
• Front Door Repair
• Installed 1.5 Ton, 14 Seer
Central A/C
• Air Handler/5 yr. Parts
Warranty
Address: 1111 40th Street S. St. Petersburg 33711
Bedrooms: 3 Year Built: 1984
Baths: 1 SF Heated/Total 1,068 / 1,380
Stories: 1 Exterior: Concrete Block
Roof: Shingle Interior: Drywall/Plaster
Heating: Central Duct Cooling: Central
Monthly Taxes: $125.48 Monthly Insurance: $34.17
Monthly Gross Rent: 814 Monthly Net Rent: $654.35
Parcel ID: 27-31-16-57762-000-0250
Land Acres: 0.11 AC Land SF: 4,883 SF
Building
Land
Renovations
Remodel: $4,512
II. PROPERTY DETAILS
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 3:
Property 2 Location
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 3:
Property 2 Photos
1111 40th Street S. St. Petersburg 33711
II. PROPERTY DETAILS
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 4:
Property 3 Details
Address: 1121 11th Avenue S. St. Petersburg 33705
Bedrooms: 3 Year Built: 1929
Baths: 1 SF Heated/Total: 882 / 942
Stories: 1 Exterior: Frame/Siding
Roof: Shingle Interior: Drywall/Plaster
Heating: Central Duct Cooling: Central
Monthly Taxes: $44.77 Monthly Insurance: $30.04
Monthly Gross Rent: $800 Monthly Net Rent: $725.19
Parcel ID: 25-31-16-90936-000-0030
Land Acres: 0.07 AC Land SF: 2,927 SF
Building
Land
Renovations
II. PROPERTY DETAILS
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 4:
Property 3 Details
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 4:
Property 3 Photos
II. PROPERTY DETAILS
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 5:
Property 4 Details
Address: 1225 20th Avenue S. St. Petersburg 33705
Bedrooms: 3 Year Built: 1940
Baths: 1 SF Heated/Total 952 / 952
Stories: 1 Exterior: Frame/Siding
Roof: Shingle Interior: Drywall/Plaster
Heating: Central Duct Cooling: Central
Monthly Taxes: $51.13 Monthly Insurance: $31.71
Monthly Gross Rent: $732 Monthly Net Rent: $649.16
Parcel ID: 25-31-16-00000-430-0600
Land Acres: 0.11 AC Land SF: 4,874 SF
Building
Land
Renovations
• New Wood Fence
• Haul away Trash
Remodel: $1,783
II. PROPERTY DETAILS
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 5:
Property 4 Details
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 5:
Property 4 Photos
1225 20th Avenue S. St. Petersburg 33705
II. PROPERTY DETAILS
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 6:
Property 5 Details
Address: 4526 21st Avenue S. St. Petersburg 33711
Bedrooms: 4 Year Built: 1974
Baths: 1 SF Heated/Total 1,348 / 1,444
Stories: 1 Exterior: Concrete Block
Roof: Shingle Interior: Drywall/Plaster
Heating: Central Duct Cooling: Central
Monthly Taxes: $120.41 Monthly Insurance: $41.50
Monthly Gross Rent: $1,087 Monthly Net Rent: $925.09
Parcel ID: 27-31-16-80385-005-0040
Land Acres: 0.14 AC Land SF: 6,016 SF
Building
Land
Renovations
II. PROPERTY DETAILS
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 2:
Property 1 Details
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 6:
Property 5 Photos
4526 21st Avenue S. St. Petersburg 33711
II. PROPERTY DETAILS
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 7a:
Property 6 Details
• Bathroom: Paint walls
• Caulked needed areas
• Replaced Damaged Skirting
• Replaced interior walls
Address: 1409 Pennsylvania Avenue, Clearwater 33705
Bedrooms: 3 Year Built: 1925
Baths: 1 SF Heated/Total: 912 / 1,032
Stories: 1 Exterior: Frame/Custom
Wood
Roof: Shingle Interior: Drywall/Plaster
Heating: Central Duct Cooling: Central
Utilities: $145.61
Monthly Taxes: $98.66 Monthly Insurance: $34.70
Monthly Gross Rent: $1,305 Monthly Net Rent: $1,026.03
Parcel ID: 10-29-15-51948-002-0130
Land Acres: 0.08 AC Land SF: 3,348 SF
Building
Land
Renovations
Remodel: $3,588
II. PROPERTY DETAILS
Included in 1409 Pennsylvania Avenue
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 7b:
Property 6 Details
Address: BLD 2- 1409 Pennsylvania Avenue 1/2, Clearwater 33705
Bedrooms: 2 Year Built: 1954
Baths: 1 SF Heated/Total: 912 / 1,032
Stories: 1 Exterior: Frame/Custom
Wood
Roof: Metal Corrugated Interior: Drywall/Plaster
Heating: Central Duct Cooling: Central
Utilities: $217.30
Monthly Taxes: $59.19 Monthly Insurance: $20.82
Monthly Gross: Rent: $700 Monthly Net Rent: $402.69
Parcel ID: 10-29-15-51948-002-0130
Land Acres: 0.08 AC Land SF: 3,348 SF
Building
Land
Renovations
II. PROPERTY DETAILS
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 7:
Property 6 Details
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 7a
Property 6 Photos
1409 Pennsylvania Avenue, Clearwater 33705
II. PROPERTY DETAILS
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 8:
Property 7 Details
• Electrical - Replace and upgrade panel changing
from a fuse box to a circuit breaker box
Address: 1835 23rd Street S. St. Petersburg 33712
Bedrooms: 3 Year Built: 1918
Baths: 1 SF Heated/Total: 788 / 968
Stories: 1 Exterior: Frame/Siding
Roof: Metal Shingle Interior: Drywall/Plaster
Heating: Central Duct Cooling: Central
Monthly Taxes: $55.23 Monthly Insurance: $27.79
Monthly Gross Rent: $720 Monthly Net Rent: $636.98
Parcel ID: 26-31-16-28278-000-0090
Land Acres: 0.16 AC Land SF: 6,795 SF
Building
Land
Renovations
Remodel: $1,760
II. PROPERTY DETAILS
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 8:
Property 7 Details
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 8:
Property 7 Photos
1835 23rd Street S. St. Petersburg 33712
II. PROPERTY DETAILS
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 9:
Property 8 Details
Address: 5528 29th Street N., St. Petersburg 33714
Bedrooms: 3 Year Built: 1948
Baths: 2 SF Heated/Total 1,032 / 1,222
Stories: 1 Exterior: Frame/Alum/Vinyl
Roof: Shingle Interior: Drywall
Heating: Central Duct Cooling: Central
Monthly Taxes: $163.76 Monthly Insurance: $33.61
Monthly Gross Rent: $850 Monthly Net Rent: $652.63
Parcel ID: 35-30-16-76464-006-0120
Land Acres: 0.14 AC Land SF: 6,195 SF
Building
Land
Renovations
II. PROPERTY DETAILS
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 9:
Property 8 Details
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 9:
Property 8 Photos
5528 29th Street N., St. Petersburg 33714
II. PROPERTY DETAILS
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 10:
Property 9 Details
Address: 2519 Queen Street S. St. Petersburg 33712
Bedrooms: 3 Year Built: 1959
Baths: 2 SF Heated/Total 1,383 / 1,506
Stories: 1 Exterior: Concrete Block
Roof: Roll Composition Interior: Drywall/Plaster
Heating: Central Duct Cooling: Central
Monthly Taxes: $167.31 Insurance: $41.92
Monthly Gross Rent: $1,137 Monthly Net Rent: $927.77
Parcel ID: 36-31-16-49068-000-0180
Land Acres: 0.16 AC Land SF: 6,848 SF
Building
Land
Renovations
Remodel: $9888.52
• Electrical - Replace and upgrade
panel changing from a fuse box to
a circuit breaker box
• Roof - Reseal seams, Roll roof with rubberized asphalt, (1383 sqft) Materials: Rubberized asphalt- $200 , Sealer- $300
• 2019 Bathroom Remodel
• LEFT AND RIGHT HAND SIDE WOODEN DECKS REPAIRS: -deck mold and mildew removal -deck railing balusters posts missing, Replace -deck boards some damaged, lack of subsequent care, replace as needed -deck nails n screws popped up, replace and make solid again -deck sealing
II. PROPERTY DETAILS
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 10:
Property 9 Details
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 10:
Property 9 Photos
2519 Queen Street S. St. Petersburg 33712
II. PROPERTY DETAILS
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 11:
Property 10 Details
Address: 4040 10th Avenue S. St. Petersburg 33711
Bedrooms: 3 Year Built: 1955
Baths: 1 SF Heated/Total 1,058 / 1,358
Stories: 1 Exterior: Concrete Block
Roof: Shingle Interior: Drywall/Plaster
Heating: Central Duct Cooling: Central
Monthly Taxes: $86.60 Monthly Insurance: $34.23
Monthly Gross
Rent:
$1,300 Monthly Net Rent: $1,059.17
Parcel ID: 27-31-16-26478-000-0160
Land Acres: 0.17 AC Land SF: 7,244 SF
Building
Land
Renovations
Remodel: $15,646.26
See following Page
II. PROPERTY DETAILS
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 11:
Property 10 Details
Renovations
Remodel: $15,646.26
Exterior Work - • Pressure wash, removing mildew and mold (excluding equipment rental) ($275) • Fascia boards repair where needed ($225) • Window screens repair or replace where needed ($100) • Landscape clean-up/ cut grass ($70) • Replace missing roof shingles ($300) • Install gutter at front of home ($150) • Fumigate ($50)
Interior Work ‐ • Major clean‐up ($125) • Prep‐walls, caulk gaps to paint (includes ceilings, moldings, interior doors) (2 tone) ($2,200) • Repair door/ shave door close ($45) • Closet doors reset (3) ($105) • Install single interior door knobs ($75) • Replace main entrance door weather striping ($55) • Repair front door frame ($75) • Install new window blinds ($125) • Replace electrical outlets and switches ($225) • Paint A/C grills or replace as needed ($125) • Install laminate flooring in bedrooms (3) (includes removal of carpet, re‐installation of
baseboards) ($1,500) • Fumigate ($50)
Bathroom ‐ • Repair tile at entrance area ($175) • Replace vanity (includes removal of existing) ($200) • Refinish tub ($325) • Install new shower fixture ($280)
Kitchen ‐ • Repair and repaint kitchen cabinets ($550)
Transport ‐ • Haul trash (includes dump fee) • Acquisition of materials
II. PROPERTY DETAILS
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 11:
Property 10 Details
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 11:
Property 10 Photos
4040 10th Avenue S. St. Petersburg 33711
II. PROPERTY DETAILS
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 12:
Property 11 Details
Address: 1921 48th Avenue S. St. Petersburg 33711
Bedrooms: 3 Year Built: 1950
Baths: 1 SF Heated/Total: 1,124 / 1,124
Stories: 1 Exterior: Frame/Stucco
Roof: Shingle Interior: Drywall/Plaster
Heating: Central Duct Cooling: Central
Monthly Taxes: $118.78 Monthly Insurance: $46.91
Monthly Gross Rent: $1,300 Monthly Net Rent: $1,109.70
Parcel ID: 28-31-16-02052-000-0390
Land Acres: 0.13 AC Land SF: 5,715 SF
Building
Land
Renovations
Remodel: $20,700
• Mold ‐ • Removed interior
walls that contained mold
• Install new drywall and apply
Texture
• Kitchen ‐ Entire remodel
including new floor
• Bathroom ‐ Entire remodel
including new floor
• Interior & Exterior Paint
• Replaced Windows & Ceiling Fans
• Plumbing & Electrical
II. PROPERTY DETAILS
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 12:
Property 11 Details
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 12:
Property 11 Details
1921 48th Avenue S. St. Petersburg 33711
John Burpee & Associates
Commercial Real Estate Brokers, Inc.
Section 5:
Overall Map of Portfolio
Property Address
A 1021 Melrose Avenue S
B 1111 40th Street S.
C 1121 11th Avenue S.
D 1225 20th Avenue S.
E 4526 21st Avenue S.
F 1409 Pennsylvania Ave.
G 1409 1/2 Pennsylvania Ave.
H 1835 23rd Street N.
I 5528 29th Street N.
J 2519 Queen Street S
K 4040 10th Avenue S.
L 1921 48th Street S