121 7Th Ave St. Petersburg, FL 33701

This exceptional multifamily property, known as Olive House, presents a compelling investment opportunity in St. Petersburg's coveted Old Northeast neighborhood. The property comprises two buildings on a 0.17-acre lot, featuring a charming 3-bedroom, 2-bathroom single-family home (approximately 1,800 sq ft) and a fourplex apartment building. The fourplex includes two studio units, one 1-bedroom/1-bathroom unit, and one 2-bedroom/2-bathroom unit. In total, the property offers five rental units, boasting a 100% occupancy rate and a substantial pro-forma NOI of $78,684, resulting in a 7.19% pro-forma cap rate. Built in 1915 and renovated in 2015, the property features a total of 2,938 square feet of net rentable space, priced at $372.70 per square foot and $219,000 per unit for a total asking price of $1,095,000. The property's Class A designation reflects its prime location, just steps from the bay waterfront, parks, restaurants, and the vibrant downtown St. Petersburg scene. This fee-simple ownership offers a blend of classic charm and modern amenities, making it an ideal investment for those seeking strong returns in a highly desirable area. The property's address is 121 & 123 7th Ave N, St. Petersburg, FL 33701, Pinellas County, APN 18-31-17-23850-001 -0100.