5900 22Nd Ave St. Petersburg, FL 33710

This exceptional Class A, 16-unit apartment building presents a compelling investment opportunity in St. Petersburg, Florida. Boasting 16,240 square feet on a 22,598 square foot lot, the property features a mix of unit sizes: six three-bedroom, nine two-bedroom, and one one-bedroom apartment. Built in 1969 and extensively renovated in 2022, this two-story building offers modern amenities and ample living space within each unit, contributing to high tenant satisfaction and retention. The property's strong financial performance is reflected in its current NOI of $214,411 and a pro-forma NOI of $264,411, translating to a 6.55% cap rate and a pro-forma cap rate of 8.07%. The asking price is $3,275,000, representing a price per square foot of $201.66 and a price per unit of $204,687.50. Conveniently located in a desirable neighborhood near shopping, dining, and schools, this stabilized investment property offers a blend of immediate income and significant future growth potential. The property includes convenient parking for residents and guests. This is an ideal acquisition for investors seeking a stable, high-return investment in a thriving Florida market.