South St. Pete Portfolio

St. Petersburg, FL






Investment Overview

The Colliers Florida Multifamily Team is pleased to offer for sale, The South Saint Pete Portfolio, a 77-unit Single Family Home, Duplex, and Multifamily Portfolio of which 97% located in South Saint Petersburg within a 3.5-mile radius. The Portfolio consists of 44 Single Family Homes and 33 Duplex & Multifamily Units built between 1905-1971 with a mix of concrete block and wood frame construction. The South St. Pete Portfolio offers an investor the unique opportunity to secure a well-positioned portfolio of Single-Family Homes and Duplexes with a significant average of over 40% discount-to-retail value when compared to comparable nearby sales of similar building age, structure, and rentable square footage. Additionally, the Portfolio has a full-time property manager of over 10+ years and on-site maintenance staff willing to stay on for an incoming buyer.

Investment Highlights

  • The South St. Pete Portfolio provides investors with an ideal opportunity to reposition these assets with a strategic interior and exterior capital improvement plan.
  • A new investor has the ability to increase rents significantly with interior and exterior beautifications, which provide a huge ROI on their investment targeted by most syndicators and investors in today’s value-add buyer pool.

Location Highlights

  • Florida, and Tampa Bay in particular, is one of the hottest markets in the country and is experiencing rapid population and job growth which is also leading to outsized rent growth. RealPage announced the Top 10 metros in the country for Y-O-Y rent growth. Nine of them were in Florida and Tampa Bay ranked #5 at 28% behind Naples (43%), Sarasota-Bradenton (37.5%), Cape Coral-Fort Myers (32%) and West Palm Beach-Boca Raton (31%).  Phoenix was the only non-Florida metro to make the list ranking #8 with 26% rent growth.


Tyler Carbonelli
Senior Associate
+1 727 744 9291

Jay Ayres
Senior Associate
+1 813 956 9700


THIS CONFIDENTIALITY AGREEMENT (“Agreement”) is made and agreed to by Colliers Florida Multifamily (“Broker”), exclusive listing broker for the Property, and the undersigned Purchaser (“Purchaser”) regarding the Property herein (“Property”). The obligation of confidentiality undertaken pursuant to this Agreement shall survive the terms of the Broker’s listing agreement with the Owner(s). PURCHASER HAS REQUESTED information from Broker for the purpose of evaluating a possible acquisition of the Property. The Owner of the Property has instructed Broker to deliver information concerning the Property, much of which is highly confidential, only to those potential purchasers who sign this Agreement. THE PARTIES AGREE, in consideration of the covenants and agreements contained herein, as follows: 1. Purchaser will not disclose, permit the disclosure of, release, disseminate or transfer; any information obtained hereunder (“Information”) to any other person or entity. 2. If Purchaser is a corporation, partnership, limited liability company or other non-natural legal entity, the person(s) signing this Agreement on its behalf will take all appropriate precautions to limit the dissemination of the Information only to those persons within the entity who have need to know of the information, and who are specifically aware of the Agreement and agree to honor it. 3. This Agreement applies to all Information received from Broker, now or in the future, which is not readily available to the general public. Purchaser understands that all information shall be deemed confidential, valuable and proprietary such that its unauthorized disclosure, even without intent to harm, could cause substantial and irreparable harm to Owner and Broker. 4. All information shall be used for the sole purpose of evaluating the potential acquisition of the Property, and it shall not at any time, or in any manner, be used for any other purpose. 5. Purchaser shall not contact directly any persons concerning the Property, other than Broker, without Broker’s or Owner’s written permission. Such persons include, without limitation, Owner’s employees, suppliers and tenants. 6. Purchaser acknowledges that it is a principal and not an agent on behalf of any other party in conjunction with the purchase of the Property (except Advisors working on behalf of their pension fund clients). Purchaser acknowledges that it is not working with any other broker or agent other than The Babb Group in connection with this transaction. 7. Neither Broker nor Owner makes any representations or warranty, express or implied, as to the accuracy or completeness of any information provided by them. Purchaser assumes full and complete responsibility for reconfirmation and verification of all Information received and expressly waives all rights of recourse against Owner and Broker with respect to the same. 8. The Persons signing on behalf of Purchaser and Broker represent that they have the authority to bind the party for whom they sign. 9. This Agreement shall be governed and construed in accordance with the laws of the State of Florida. 10. No outside broker represents Purchaser. Purchaser is working with Colliers Florida Multifamily, specifically The Babb Group. Furthermore, Purchaser indemnifies Broker and owner against any commission claims by brokers on this listing or any listing by the Babb Group for the six months following the date of this agreement.