Quadruplex with Central
For Sale
$750,000
1846 2ND Avenue N, St Petersburg, FL 33713
MULTI_FAMILY - ST PETERSBURG, FL
Property Size2,622 SF
Lot Size0.11 Acres
Price / SF$286.04
Days on Market185
Property Features for 1846 2ND Avenue N
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bedroom 5, Bedroom 4, Bedroom 6, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 3, Bathroom 4, Bedroom 2
Parking features
On Street
Window features
Insulated Windows, Double Pane Windows, Storm Window(s)
Interior features
Ceiling Fans(s)
Exterior features
Private Entrance, Private Mailbox
Appliances
Gas Water Heater, Range, Refrigerator
Subdivision
FULLERS SUB
Lot features
Corner Lot, Historic District
Elementary school
Woodlawn Elementary-PN
Middle school
John Hopkins Middle-PN
High school
St. Petersburg High-PN
Directions
From 16th St and Central, head west. Turn north on 18th Street to 2nd Ave N. Located on SE corner of 18th Street and 2nd Ave N
Standard status
Active
APN
24-31-16-29718-010-0061
Size
2,622 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
FULLER'S SUB BLK 10, N 80FT OF LOT 6
Tax Annual Amount
6855
Legal Description
FULLER'S SUB BLK 10, N 80FT OF LOT 6
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Central Air
Water source
Public
Amenities
central air conditioning
Building Details
Year built
1921
Floors in Building
2
Number of units
4
Flooring type
Carpet, Wood, Vinyl
Building materials
Vinyl Siding, Frame
Roof type
Shingle
Listing Agency:
SEXAUER REAL ESTATE INTL.
(727) 641-3644
Listed By:
Steve Sexauer · License #3165433
(727) 641-3644
Added: Feb 13
Changed: Aug 13
Last Checked: Aug 17 at 12:06PM
MLS# TB8476431
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.
Historic Kenwood quadplex built in 1921 featuring three one-bedroom/one-bath units and one three-bedroom/one-bath unit, totaling 2,622 sq ft. The property includes a 2-car garage, private entrances, and private mailboxes, with on-street parking.
All four units have central A/C (no wall or window units) and new impact windows. Updates also include new premium vinyl siding. Each unit is individually metered for electricity and gas, and the landlord pays for water. Heating is electric, and the home has a shingle roof with public water and public sewer.
Located in Flood Zone X (non-evacuation zone) and zoned for multi-family use of 10 units or less, the property is positioned for everyday rental operations within the Historic Kenwood area of St. Petersburg.
All four units have central A/C (no wall or window units) and new impact windows. Updates also include new premium vinyl siding. Each unit is individually metered for electricity and gas, and the landlord pays for water. Heating is electric, and the home has a shingle roof with public water and public sewer.
Located in Flood Zone X (non-evacuation zone) and zoned for multi-family use of 10 units or less, the property is positioned for everyday rental operations within the Historic Kenwood area of St. Petersburg.
Key Highlights
- Three one‑bedroom/one‑bath units plus one three‑bedroom/one‑bath unit totaling 2,622 sq ft
- Built in 1921 craftsman quadplex with central A/C in all four units
- New impact windows and new premium vinyl siding
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,605
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.08%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$612,100
$612.1K
Cap Rate 7%
$437,214
$437.2K
Cap Rate 9%
$340,056
$340.1K
Market Conditions
NOI Build-Up for 2,622 SF
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.
Gross rent
$46.9K $17.88/SF
− Vacancy
−$3.2K −$1.21/SF
EGI
$43.7K $16.67/SF
− OpEx
−$13.1K −$5.00/SF
NOI
$30.6K $11.67/SF
Area
Pinellas County, FL
Vacancy
6.74%
Lease Rate
$17.88 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$612,100
Cap Rate 7%
$437,214
Cap Rate 9%
$340,056
Alternative Uses
Best Use
Multifamily LT 5
$437.2K
$382.6K – $510.1K
NOI $30,605 @ 7.0% cap · market cap 4.08%
Second Best
Apartment 5plus
$344.5K
$301.4K – $401.9K
NOI $24,115 @ 7.0% cap · market cap 3.22%
Theoretical Best
Office A
$682.0K
$596.8K – $795.7K
NOI $47,740 @ 7.0% cap · market cap 6.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,723
Businesses Nearby
Explore this area
Business Placement
Demographics for 33713, FL
31,321
Population
16,192
Households
1.9
Avg Household Size
42
Median Age
35%
College-Educated
91%
High-School Grad
6.5 sq mi
ZIP Area
4,819
Density / Sq Mi
$69,704
Median Household Income
$43,282
Median Earnings
$1,387
Median Rent
$279,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Historic 1921 quadplex with three one-bedroom units and one three-bedroom unit, all with central A/C.
Where is this quadplex located?
The property is located at 1846 2ND Avenue N St Petersburg, FL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Three one‑bedroom/one‑bath units plus one three‑bedroom/one‑bath unit totaling 2,622 sq ft; Built in 1921 craftsman quadplex with central A/C in all four units; New impact windows and new premium vinyl siding
