$2,833,525
About this home
Beautiful South Pasadena apartment building. Exceptional opportunity to acquire Hibiscus Place Apartments, a rare,12-Unit Multifamily Investment in South Pasadena, Florida. This architecturally unique, high-demand, apartment building features a private central courtyard which showcases a double return central staircase and is located in an upscale residential neighborhood only one block from Boca Ciega Bay. The property is currently 100% occupied, generating approximately $228,920 in annual gross income. The offering represents an attractive opportunity to acquire an established, income-producing multifamily asset in a highly sought-after Gulf Coast location at a 5.4% cap rate. 12 units - Two 2 bedroom/2 bath, Two 2 bedroom/1 bath and Eight 1 bedroom/1 bath. In last 5 yrs - 30 year roof coating 2023, 5 new air conditioning units, updated laundry facilities, multiple kitchen/ bathroom/ flooring/ appliances, two asphalt parking lots updated and maintained regularly, landscape upgrades. 16 parking spaces (10 in front and second lot in the back. Short drive to St Pete Beach. Walk to shopping and restaurants.
Property details
- MLS #
- MFRTB8555883
- Property type
- Multi-Family 5+
- Subdivision
- PASADENA ON THE GULF SEC C
- Status
- Active
- Days on market
- N/A
- On market date
- October 9, 2026
- Stories
- N/A
- Total bathrooms
- N/A
- Garage spaces
- N/A
- Parking spaces
- N/A
- Lot size
- 0.34 acres
Location
Get directions →Nearby schools
Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card.
- Enrollment
- 455
- Student:teacher ratio
- 16.3:1
- District
- PINELLAS
- Enrollment
- 807
- Student:teacher ratio
- 18.8:1
- District
- PINELLAS
- Enrollment
- 240
- Student:teacher ratio
- 48.0:1
- District
- PINELLAS
Walkability
Blended score for SOUTH PASADENA's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).
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Data source: Listing information provided by Stellar MLS (mfrmls) via Trestle/CoreLogic. Last updated 3 days ago.
Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.