8-Unit Mediterranean Apartment
1233 OAK Street NE St Petersburg, FL 33701
For Sale
$1,499,990
Pending
MULTI_FAMILY - ST PETERSBURG, FL
Property Size4,938 SF
Lot Size0.10 Acres
Days on Market172
Property Features for 1233 OAK Street NE
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
8
Rooms
Bedroom 1, Bathroom 1, Bedroom 5, Bathroom 7, Bathroom 2, Bathroom 5, Bedroom 7, Bathroom 8, Bedroom 6, Bedroom 8, Bedroom 4, Bathroom 4, Bathroom 6, Bathroom 3, Bedroom 2, Bedroom 3
Parking features
On Street, Off Street
Interior features
Ceiling Fans(s), Eat-in Kitchen
Exterior features
Lighting, Sidewalk, Storage
Appliances
Dryer, Gas Water Heater, Range, Refrigerator, Tankless Water Heater, Washer
Standard status
Pending
APN
18-31-17-05274-001-0060
Size
4,938 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BAYVIEW ADD BLK 1, S 68.5FT OF LOT 6
Tax Annual Amount
17418
Utilities
Sewer type
Public Sewer
Heating system
Ductless (Heating)
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1925
Number of units
8
Flooring type
Linoleum, Wood
Building materials
Stucco, Frame
Roof type
Built-Up
Additional Structures
Storage
Listing Agency:
RE/MAX PREFERRED
(727) 367-3636
Listed By:
Carol Giovannoni · License #614305
(727) 481-9909
Added: Feb 5
Changed: Jul 22
Last Checked: Jul 27 at 10:06PM
MLS# TB8473243
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story multifamily property features eight one-bedroom, one-bath apartments, each with a living room and eat-in kitchen. The building includes a gracious interior common lobby, and vintage hardwood flooring. Onsite coin laundry is located in a detached garage building, and the property has newer separately metered electricity. A new roof was installed in 2025, and the building has an efficient tankless gas hot water heater.
The property is in St. Petersburg, Florida, at 1233 Oak Street NE (33701) in the Old Northeast area. The address is approximately three blocks to Beach Drive NE and the downtown urban core.
The exterior is described as Mediterranean-style with thick stucco walls and terra cotta entry steps. A hexagonal paver sidewalk is at the front of the building, consistent with the character of the neighborhood described in the remarks.
The property is in St. Petersburg, Florida, at 1233 Oak Street NE (33701) in the Old Northeast area. The address is approximately three blocks to Beach Drive NE and the downtown urban core.
The exterior is described as Mediterranean-style with thick stucco walls and terra cotta entry steps. A hexagonal paver sidewalk is at the front of the building, consistent with the character of the neighborhood described in the remarks.
Key Highlights
- 8‑unit multifamily property with 1‑bedroom, 1‑bath apartments, each with a living room and eat‑in kitchen
- Built in 1925; stucco construction and built‑up roof
- New roof installed in 2025
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $88.9k | $18.00 |
| − Vacancy | −$6.3k | −$1.28 |
| EGI | $82.6k | $16.72 |
| − OpEx | −$37.2k | −$7.52 |
| NOI | $45.4k | $9.20 |
4,938 SF · lease $18.00/SF/yr · vacancy 7.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$648.8K
$567.7K – $756.9K
NOI $45,415 @ 7.0% cap · market cap 3.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.28M
$1.12M – $1.50M
NOI $89,909 @ 7.0% cap · market cap 5.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Boutique two-story building with eight one-bedroom units, detached garage coin laundry, and a roof replacement in 2025.
Where is this apartment building located?
The property is located at 1233 OAK Street NE St Petersburg, FL.
What is the asking price?
The asking price for this property is $1,499,990.
What are key features of this property?
This property features: 8‑unit multifamily property with 1‑bedroom, 1‑bath apartments, each with a living room and eat‑in kitchen; Built in 1925; stucco construction and built‑up roof; New roof installed in 2025
