Overview
- Updated On:
- November 10, 2026
- 3,234 ft2
Description
One of Downtown St. Petersburg’s rarest income opportunities — a historic 1925 six-unit wood-frame building nestled steps from the coveted Historic Old Northeast neighborhood in Flood Zone X. The two-story building offers 5 one-bedroom/one-bath units plus an efficiency, all individually metered for electric. A 2021 roof replacement is already complete. Current rents are significantly below appraiser-concluded market value, presenting immediate income upside through stabilization. Grandfathered six-unit density under NT-2 zoning protects a use that simply cannot be replicated with new construction in this submarket. Value-add investors will find a compelling rent-up story, strong tenant demand, and a premium location that commands quality tenants with minimal concessions. A true value-add opportunity in a market that rarely offers one.
- Principal and Interest
- Property Tax
- HOA fee
- Private Mortgage Insurance
