1405 7th Avenue N, ST PETERSBURG, FL 33705
Priced at Only: $949,000
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- MLS#: U8245876 ( Residential )
- Street Address: 1405 7th Avenue N
- Viewed: 8
- Price: $949,000
- Price sqft: $515
- Waterfront: No
- Year Built: 1928
- Bldg sqft: 1844
- Bedrooms: 4
- Total Baths: 4
- Full Baths: 4
- Days On Market: 264
- Additional Information
- Geolocation: 27.7795 / -82.6531
- County: PINELLAS
- City: ST PETERSBURG
- Zipcode: 33705
- Subdivision: Bon Air
- Provided by: 3 POINT REAL ESTATE SOLUTION
- Contact: Giancarlo Gonzalez
- 727-743-8541
- DMCA Notice
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. Petersburgs 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. Petersburgs thriving real estate market. Dont 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 Floridas most dynamic rental markets!
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Features
Building and Construction
- Covered Spaces: 0.00
- Exterior Features: Awning(s), Balcony, Dog Run, Lighting, Private Mailbox, Sidewalk
- Flooring: Luxury Vinyl
- Living Area: 1656.00
- Roof: Shingle
Garage and Parking
- Garage Spaces: 0.00
Eco-Communities
- Water Source: Public
Utilities
- Carport Spaces: 0.00
- Cooling: Central Air, Wall/Window Unit(s)
- Heating: Electric
- Sewer: Public Sewer
- Utilities: Cable Available, Electricity Connected, Phone Available, Sewer Connected, Street Lights, Water Connected
Finance and Tax Information
- Home Owners Association Fee: 0.00
- Net Operating Income: 0.00
- Tax Year: 2023
Other Features
- Appliances: Electric Water Heater, Microwave, Range, Range Hood, Refrigerator
- Country: US
- Interior Features: Ceiling Fans(s), Open Floorplan
- Legal Description: BON AIR W 38 1/2 FT OF LOT 80
- Levels: Multi/Split
- Area Major: 33705 - St Pete
- Occupant Type: Tenant
- Parcel Number: 13-31-16-10062-000-0800
Contact Info
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