The Inezda

Saint Petersburg, FL

23

UNITS

1929

YEAR BUILT

0.43

ACRES

14,505

SQUARE FEET

PURCHASE PRICE

Property Tour

Investment Overview

The Colliers Florida Multifamily Team, as exclusive advisor, is proud to present The Inezda; a 1920’s vintage, 23-unit apartment building located in beautiful Old Northeast St. Petersburg, FL. The Inezda combines historic charm and, in many cases, period correct finish details with modern luxury living amenities creating a truly special property. Walkable to St. Petersburg’s waterfront parks and just 12-blocks north of Downtown’s famed Beach Drive, The Inezda is also within a 20-minute commute to the #1 beach in the U.S. and the Gateway Business District which is the national headquarters location for numerous Fortune 500 companies which allows it to attract high quality ‘Lifestyle Renters’ who are more attracted to living in a boutique building and are willing and able to pay for quality.

Investment Highlights

  • Class AAA 23-unit multifamily property in Old Northeast St. Petersburg
  • Extensive renovations with current ownership spending close to $2,000,000
  • Subject property is one of only 31 assets between 20- 100 units in the 33701 zipcode
  • The remaining non-renovated unit is currently$1,000/month below market and can easily be upgraded on next turn
  •  The property is offered free and clear of existing debt enabling investors the ability to finance the acquisition however they see fit

Location Highlights

  • The Inezda enjoys a bike-score of 81 which makes most trips convenient
  • St. Petersburg was voted the #1 City in the U.S. for outdoor enthusiasts thanks to its incredible collection of waterfront parks, golf courses, dog parks, Al Lang Stadium and more
  • Within a 5-minute drivetime from the subject, average household income is $108,534 which is 33% higher than the Tampa Bay MSA

Contact

Casey Babb, CCIM
Executive Managing Director
+1 813 217 0321
casey.babb@colliers.com

Shawn Rupp
Managing Director
+1 727 916 7877
shawn.rupp@colliers.com

 

Jay Ayres
Senior Associate
+1 813 956 9700
jay.ayres@colliers.com

Tyler Carbonelli
Senior Associate
+1 727 744 9291
tyler.carbonelli@colliers.com

CONFIDENTIALITY AGREEMENT

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.