Pittsburgh investor snaps up Pass-a-Grille apartments
By Breanne Williams
Tampa Bay Business Journal
Published: Apr 19, 2024

An apartment complex on the Intracoastal Waterway in Pass-a-Grille has sold for $6.75 million.

The sale of Linncrest Apartments at 1505 Pass-a-Grille Way closed April 15, Pinellas County property records show. The seller was a private estate and the buyer was Ghaznavi Enterprises Inc., which is based in a Pittsburgh suburb.

The complex was built in 1973. It is a three-story building with 21 units on a roughly 0.57-acre site. The beach location comes at a premium; the sales price is approximately $321,428 per unit. That pricing is more commonly seen in newly built multifamily properties closer to job centers in St. Petersburg and Tampa.

The complex is comprised of two-bedroom, two-bathroom apartments, each just over 1,000 square feet. The ground-floor units each have a patio, and the second and third-floor units have balconies that overlook the Pass-a-Grille Channel. There is on-site laundry, and the property includes 21 parking spaces.

The apartment also features a dock on the channel for temporary mooring or fishing.

Linncrest Apartments is directly across from Hurley Park, which includes a baseball field, tennis and basketball court, dog park and the Warren Webster Community Center. The apartments are one block from Pass-a-Grille Beach.

Pass-a-Grille is on the southernmost end of St. Pete Beach. The apartments are roughly 6 miles from the Sunshine Skyway Bridge and 20 minutes from downtown St. Petersburg.