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5479 27th St SSt. Petersburg, FL 33712
The Morgan
Asset ClassMultifamily
Bankruptcy Auction - Multifamily Apartment Complex
overview of deal

Overview

This offering a 304 unit apartment complex in St. Petersburg, Florida. It is a bankruptcy auction with a Bid Deadline of August 21st and Auction Date of September 4th. The recommended Minimum Overbid is $42,850,000.

 

The Property is located in South St. Petersburg, providing convenient access to Downtown St. Petersburg, Interstate 275, the Sunshine Skyway Bridge, and major employment centers throughout Pinellas County and the greater Tampa Bay region. The location offers excellent regional connectivity to Tampa, Clearwater, and Sarasota.

 

Residents enjoy access to award-winning beaches, a vibrant downtown district, the St. Pete Pier, professional sports venues, and more than 1,000 acres of parks and waterfront recreation. These quality-of-life amenities continue to attract new residents and employers to the region.

 

St. Petersburg is the second-largest city in the Tampa Bay metropolitan area and one of Florida's fastest-growing urban markets. The city has experienced sustained population growth, attracting residents through its diversified economy, waterfront amenities, and high quality of life.

 

South St. Petersburg has experienced significant public and private investment in recent years, including waterfront redevelopment, infrastructure improvements, new residential communities, and mixed-use projects. Continued investment has strengthened the area's residential appeal while supporting long-term neighborhood growth.

 

The Tampa Bay region benefits from a highly diversified economy anchored by healthcare, financial services, defense, marine industries, technology, education, and tourism. Major employers include BayCare Health System, Johns Hopkins All Children's Hospital, Jabil, Raymond James Financial, Publix Super Markets, and HCA Florida.

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Investment Highlights

304 total units across 27 three-story buildings

  • 144 1-bed apartments w/ avg. 718 SF
  • 130 2-bed apartments w/ avg. 1,250 SF
  • 30 3-bed apartments w/ avg. 1,651 SF

Built in 1972 | Renovated in 2015

 

315,450+ SF Gross Building Area set on a 21.72+ acre site

 

Amenities: 3 Swimming pools, Clubhouse, Fitness Center, Business Center, Outdoor Grilling & Picnic areas, Laundry Facilities (certain units have in-unit laundry), etc.

 

Accessible to Walgreens, Publix, Gas, Fast Food, and Banks; immediate access to I-275 and Downtown St. Petersburg

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5479 27th St SSt. Petersburg, FL 33712
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