What is the Asking Price?

The current asking price for this property is $949,000. Please contact me here for further details about this property.

What are the Property's Features?

This home features : 2 stories, 4 beds, 4 baths, 1,656 sqft, 0.05 acres lot, built in 1928, 13 pictures.

Where is the property located?

Property is located at 1405 7TH AVE N, ST PETERSBURG, FL, US. You can view this listing on our map here .

En venta: 1405 7th Ave N, St. Petersburg, 33705, FL

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1405 7TH AVE N, ST PETERSBURG, 33705

$949,000
Price changed 12/31/2024 from $979,000, -3.06%
4 Beds, 4 Baths , 1,656 Sq.Ft
County: Pinellas
Subdivision: BON AIR

Property highlights

MLS#: U8245876
2,039.00 lot size Sq.Ft.
Year built: 1928

Listed: 06/14/2024
Taxes: $4,959.58
Virtual Tour

Property Overview

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!

Driving directions : From Downtown St. Petersburg: Head north on 4th St N. Turn left onto 7th Ave N. Continue for approximately 0.5 miles. The property will be on your right-hand side at 1405 7th Ave N. From Tampa via I-275 S: Take I-275 S toward St. Petersburg. Use Exit 23B for 8th St N. Turn left onto 8th St N. Turn right onto 7th Ave N. Continue for about 0.3 miles. The property will be on your left-hand side at 1405 7th Ave N. From St. Pete Beach: Head east on Central Ave toward Downtown St. Petersburg. Turn left onto 34th St N/US-19 N. Turn right onto 5th Ave N. Turn left onto 16th St N. Turn right onto 7th Ave N. The property will be on your left-hand side at 1405 7th Ave N. Let me know if you'd like directions from a specific location or further details!

Property Features

Rooms	Dimension	Description
Primary Bedroom		First level
Primary Bathroom		First level
Studio		Second level
Primary Bathroom		Second level
Studio		Second level
Primary Bathroom		Second level
Studio		First level
Primary Bathroom		First level
Kitchen		Second level
Kitchen		First level
Kitchen		Second level
Kitchen		First level
Living Room		First level

Interior Features

Ceiling Fans(s)
Open Floorplan

Appliances

Electric Water Heater
Microwave
Range
Range Hood
Refrigerator

Heating

Electric

Laundry features

Common Area
Electric Dryer Hookup
Outside
Washer Hookup

Air Conditioning

Central Air
Wall/Window Unit(s)

Floor Covering

Luxury Vinyl

Utilities

Cable Available
Electricity Connected
Phone Available
Sewer Connected
Street Lights
Water Connected

Exterior features

Awning(s)
Balcony
Dog Run
Lighting
Private Mailbox
Sidewalk

Construction Materials

Wood Frame

Road Surface Type

Asphalt

Roof

Shingle

Foundation

Concrete Perimeter

Listing information courtesy of 3 POINT REAL ESTATE SOLUTION

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Listing data comes from My Florida Regional MLS.