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1405 7TH N AVENUE, ST PETERSBURG, FL 33705
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$949,000
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Home Details for 1405 7TH N AVENUE
Price
$949,000
Type
Single Family
Bedrooms
4
Total Bathrooms
4.0
Full Bathrooms
4.0
Year Build
1928
Sq. Ft.
1656
Lot Size
0.05
County
Pinellas
Total Rooms
13
Tax
$4,959.58
MLS®️ Listing#
U8245876
On exitrealty.com
240 days
Property Description
This meticulously renovated 4-unit multi-family property in the highly sought-after Uptown neighborhood of St. Petersburg is the perfect turnkey investment opportunity. Combining historic charm with modern amenities, this fully-leased quadplex generates an impressive $6,082 in monthly rental income and a Net Operating Income (NOI) of $47,468.76 in 2024, delivering a solid 5% cap rate. With strong cash flow and minimal immediate capital expenditure, this property is poised to provide consistent returns and long-term value appreciation.
Each of the four units has been tastefully updated with modern finishes, ensuring tenant satisfaction and low maintenance costs. The property features individual electric meters for all units, simplifying management and making utility expenses predictable. Currently, Unit 1 is a 1-bedroom, 1-bathroom unit renting for $1,700 per month with nine months remaining on the lease. Unit 2, located on the second floor, is a studio with a separate kitchen and private bathroom, renting for $1,507 per month with an anticipated renewal at $1,600 per month. Unit 3, also on the second floor, is another studio with a private bathroom, renting for $1,600 per month with eight months remaining on the lease. Unit 4, a ground-floor studio with a full kitchen and private bathroom, rents for $1,275 per month, also with eight months remaining.
This 2-story building, built in 1928, boasts timeless architectural character while offering tenants convenient on-site parking and close proximity to Downtown St. Petersburg’s vibrant dining, shopping, and entertainment scene. Its location in the Uptown neighborhood ensures strong rental demand, low vacancy rates, and potential for future rent increases. The total annual gross income for 2024 is $72,984, with room to enhance profitability through modest rent adjustments as leases renew.
For investors, this property offers an excellent combination of reliable cash flow, a solid NOI, and long-term appreciation potential. With individual electric meters and a history of meticulous upkeep, property management is streamlined, allowing for a stress-free ownership experience. Financial details, including lease terms and expense breakdowns, are available upon request to help prospective buyers conduct thorough due diligence.
Opportunities like this are rare in St. Petersburg’s thriving real estate market. Don’t miss your chance to own a high-performing, fully-leased quadplex in a location that continues to grow in value and appeal. Schedule your private showing today and secure your stake in one of Florida’s most dynamic rental markets!
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- Utilities
- Cable Available
- Electricity Connected
- Phone Available
- Sewer Connected
- Water Connected
- Cooling Information
- Central Air
- Wall/Window Unit(s)
- Heating Information
- Electric
- Water Features
- Public
- House Interior
- Open Floorplan
Listing Courtesy: 3 POINT REAL ESTATE SOLUTION - 727-743-8541
Listings courtesy of Stellar MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Listing information is provided for consumers? personal, non-commercial use, solely to identify prospective properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Information deemed reliable but not guaranteed. Copyright ©2025 MLS GRID. All Rights Reserved.
Last Updated: 2025-01-23 13:31:43
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$949,000
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EXIT SUNCOAST REALTY
5113 Central Ave, St. Petersburg, FL 33710