For Sale
$1,195,000

324 7Th StSt. Petersburg, FL 33701

Four-unit building, high rental upside.

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional four-unit apartment building presents a compelling value-add investment opportunity in the heart of downtown St. Petersburg, Florida. Located at 324 7th St S, 33701, this 2-story, 2,999 square foot building sits on a 0.06-acre lot and was built in 1920. Recent renovations (2022 & 2023) encompass both interior and exterior upgrades. Interior improvements include stainless steel appliances, white shaker cabinets, new water heaters, and sleek quartz countertops. Exterior enhancements feature a fresh coat of paint, repaired balconies, new fencing, upgraded central AC units, and attic repairs. The property boasts a significant rental upside potential of approximately $13,000 annually, based on current market trends, averaging $275 per unit per month. Amenities include select furnished units, on-site laundry, front porches, and a fenced lot. Its prime location offers unparalleled access to Central Avenue and Beach Drive's upscale dining and retail, and is within a five-minute walk of the $6.5 billion Tropicana Field redevelopment project. Proximity to major employers, including St. Anthony's Hospital, Bayfront Health Hospital, and the University of South Florida St. Petersburg campus, further enhances its appeal. The asking price for this turnkey property is $1,195,000.

Highlights

  • Prime 4-unit multifamily property in downtown St. Petersburg.
  • $275/month rental upside per unit ($1100/month total).
  • 2022-2023 interior & exterior renovations; interior updates include stainless steel appliances, shaker cabinets, quartz countertops; exterior updates include painting, balcony & fence repairs, AC units, and attic repairs.
  • Amenities: furnished units, laundry, porches, fenced lot.
  • Walkable to Central Ave & Beach Drive dining/retail.
  • Five-minute walk from the Tropicana Field redevelopment project.

Property Details for 324 7Th St

Property type
Apartment buildings
Square Feet
2,999 SF
Year Built
1920
Buildings
1
Stories
2
Lot Size (sq. ft)
2,614 SF
Units
4

Location Insight

City
St. Petersburg
County
Pinellas
State
Florida
Latitude
27.7678136031
Longitude
-82.64315051524
324 7Th St, St. Petersburg, Florida

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324 7Th St
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