About This Property

One of Downtown St. Petersburg's rarest offerings — a historic 1925 six-unit apartment building situated steps from Historic Old Northeast in Flood Zone X. The two-story wood-frame building features 5 one-bedroom/one-bath units plus an efficiency, individually metered electric, and a 2021 roof replacement already complete. Current rents are significantly below the appraiser's concluded value and represent significant income upside with rent stabilization in gross annual potential. Grandfathered 6-unit use under NT-2 zoning protects the income-producing asset in a neighborhood where comparable new supply simply cannot be built. Value-add investors will appreciate the vacancy/rent-up story, the density efficiency, and a location that commands premium tenants with minimal concessions. A genuine value-add play in a submarket that rarely offers one. Dont miss out on the investment opportunity. Contact the listing agent for a duel portfolio marketing plan for this and 247 6th ave n.

Key Features

• Built in 1925

Property Details

• Type: Single Family Home
• Year Built: 1925
• Lot Size: 0 sq ft
• Sq Ft: 3,234
• Price / Sq Ft: $371
• HOA: Contact Agent
• Bedrooms: 0
• Bathrooms: 0
• Feature: Built in 1925
• Status: Active
• MLS Number: MFR794391070
• Days on Market: 23
• Listed By: SUNSHINEAGLE LLC · Dave Masi
• Zip Code: 33701