Bayboro Tower is mid-rise apartment building centrally located in St. Petersburg, Florida, just south of downtown, and near the upscale shops and restaurants of the famous St. Petersburg Pier.
As purchased in 2000, the property consisted of 39 older units in a 4-story building built in 1974. Under the management of Four Corners staff, the property was renovated and improved to match the urban lifestyle of the thriving waterfront community that surrounds it. Added value to the property included an increased number of overall living units, the retrofitting of modern kitchens, bathrooms and amenities, and also new office space and a storage area. The resulting improvements allowed for the building to be successfully leased up and sold at a high net return on the overall investment.
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