St petersburg rentals - curious about an area

Greenwich, CT · Member since 2017 · 15 posts · 2 votes

Hi I’m new to investing in st Pete and am curious as to if central oak part / united central (2nd Ave south 45-50th) is a good area for future appreciation or is it a crime ridden area ? It seems to be on the edge on crime maps Liz Any tips and help greatly appreciated

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David Klefeker

Rental Property Investor · Saint Petersburg, FL · Member since 2016 · 32 posts · 32 votes

@Nabeel Kurji

That's great your interested in St Pete!

I'm an asset manager for a RE Group along with a Property Management company here in St Pete. We are very bullish on St Pete and Tampa Bay as a whole.

We actually have a property right on Central and 22nd ave.

The Airbnb/ short terms we have are also doing incredibly well.

The area you are referring to is not a bad area but it isn't the greatest either.

What is it that you are looking for? multi family? SFH? Office?

Would love to be of some assistance or at the very least pass along some good referrals for Contractors if you need them....

David

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David Klefeker
Rental Property Investor · Saint Petersburg, FL · Member since 2016 · 32 posts · 32 votes
8y
@Nabeel Kurji
That's great your interested in St Pete!
I'm an asset manager for a RE Group along with a Property Management company here in St Pete. We are very bullish on St Pete and Tampa Bay as a whole.
We actually have a property right on Central and 22nd ave.
The Airbnb/ short terms we have are also doing incredibly well.
The area you are referring to is not a bad area but it isn't the greatest either.
What is it that you are looking for? multi family? SFH? Office?
Would love to be of some assistance or at the very least pass along some good referrals for Contractors if you need them....
David
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Jeff CopelandBusiness Member
Real Estate Broker · Tampa Bay/St Petersburg, FL · Member since 2015 · 1k+ posts · 2k+ votes
8y
Central Oak Park and United Central in St Pete are good targets for long term appreciation. I own and manage several properties in the area. It's a generally decent area with attractive red brick streets, and an eclectic mix of single family homes.
The neighborhoods to the north and east of this area have been picked clean, and prices have been driven up to such a point that Central Oak Park (particularly the area south of Central Ave) is attracting investors, both in the form of flips, and long term buy and hold.
As an example, I own a single family rental at 4142 3rd Ave S in St Pete. I bought it for $101k about a year ago. The house next door on one side was flipped a few months later and sold for $149k, and the house on the other side sold to an owner occupant for $138k a few months after that. It's an ideal domino effect.
So, if you buy at the right price, there is a great opportunity for appreciation.
I may have a multifamily listing (2/1 single family home with 1/1 rental unit) coming up in the next couple of months a couple of blocks away on 2nd Ave S near 45th St.
Copeland Morgan LLC4.770 Reviews
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Nabeel Kurji
OP
Greenwich, CT · Member since 2017 · 15 posts · 2 votes
8y
Thanks Jeff Copeland Really hesitant to invest on those few blocks as it seems like an electric hub nearby and not much more. Price is going for close to 300k which I’m sure that’s high but it’s turnkey Just trying to justify pulling the trigger or not Is the area gentrifying or is it too close to child’s park to be a dead zone ? Feel free to DM regarding your upcoming deal
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Nabeel Kurji
OP
Greenwich, CT · Member since 2017 · 15 posts · 2 votes
8y
What kind of rents are people seeing down there For one bedroom and there bedrooms
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Racheli Vidal
Rental Property Investor · New York, NY · Member since 2017 · 37 posts · 11 votes
8y
@Jeff Copeland I am interested in learning more about the St Pete area. Can you tell me more about the part of town near the children's hospital and how it compares with the one you were discussing.
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