Turnkey 5-Unit Investment 2 blocks to the Gulf

[Jon Sullivan]

Investment Info:

Large multi-family (5+ units) buy & hold investment in St Pete Beach.

Purchase price: $828,000
Cash invested: $300,000

This fully renovated (June 2025) 5-unit multifamily just minutes from St. Pete Beach isn’t just a property—it’s a cash-flow opportunity.
Projected Rental Potential:
• ~$13K/month (conservative)
• ~$16K–$17K/month (mid)
✔️ 5 units = multiple income streams
✔️ Short-term rental potential (Airbnb / VRBO – verify locally)
✔️ Turnkey condition – no heavy rehab
✔️ Pool + fitness center = higher guest appeal
✔️ Minutes to beaches, dining, and downtown St. Petersburg
This is the type of deal investors look for when they want:
1. Scalability “cash flow”
2. Location- Minutes to the beach
3. STR potential
4. Fully renovated
5. Income-producing

What made you interested in investing in this type of deal?

Cash Flow and ROI near a coveted area in St Pete Beach close to the Gulf of Mexico.

How did you find this deal and how did you negotiate it?

Through local connections.

How did you finance this deal?

Seller Financing.

How did you add value to the deal?

Remodeling the property.

What was the outcome?

Better cash flow.

Lessons learned? Challenges?

Learned about hurricanes and flooding, but the property looks much better after remodel in June 2025.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Jon Sullivan, Keller Williams, Graystone Investment Group, InvestNFlorida, Sundi Engle-Lender, Justin Thomas-Lender.