10-unit Pinellas County apartment community sells for nearly $2M

A Pinellas County investor has bought a small apartment complex in Oldsmar.

The community is the Arch Avenue Apartments on Clair and Arch avenues just off of State Road 580 and less than 4 miles from both Mobbly Bayou Beach Park and Countryside Mall.

The buyer, according to the Tampa commercial real estate firm Franklin Street, is St. Clair Property Investment. The firm did not disclose the sale price, but county property records show that St. Clair, owned by an Oldsmar investor, paid $1.95 million.

The seller, Woshi Real Estate, paid $1.1 million for the property in 2019.

Franklin Street says the 10-unit community is made up single-story, two-bedroom units averaging about 1,005 square feet. Each unit has a private rear patio and an in-unit washer and dryer. Four of the five duplexes offer garages.

At the time of sale, it was 90% occupied.

Built in 1979 and 1980, the previous owners replaced the roofs and installed white vinyl fencing to create private backyard spaces in 2024.

In addition to representing the seller, Franklin Street says in a statement that it secured the financing through its capital advisory practice and underwrote the property coverage through its in-house insurance brokerage.

The firm says the financing was a 10-year fixed rate loan at 6.2% with a 30-year amortization, 12 months of interest only and a step-down prepayment penalty.

Franklin Street’s Mark Savarese and Geno Cronin represented the seller in the transaction; Dakota Brown secured the financing; and Michael Conlon wrote the insurance policy.