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    St. Pete Multi-Family Investment

    5050 74TH STREET N St Petersburg, FL 33709

    5050 74TH STREET N, St Petersburg, FL, 33709
    $975,000
    For Sale
    Claim this Listing
    $975,000

    Multi-Family 5+ - ST PETERSBURG, FL

    Property Size3,409 SF
    Lot Size0.36 Acres
    Price / SF$286.01
    AddedSep 11, 2024
    Days on Market673
    Last RefreshJul 15 at 3:06 pm

    Property Features for 5050 74TH STREET N

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R-4
    Bedrooms
    9
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Interior features
    Ceiling Fans(s)
    Exterior features
    Lighting, Sidewalk
    Standard status
    Active
    APN
    06-31-16-00000-220-1700
    Size
    3,409 SF
    Lot size
    0.36 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    6836.17

    Utilities

    Heating system
    Central
    Cooling system
    Central Air
    Water front features
    Canal - Saltwater, Canal Front, Waterfront
    Water front
    1

    Building Details

    Year built
    1980
    Number of units
    6
    Building materials
    Stucco
    Roof type
    Shingle
    Architectural style
    Other

    Listing agent Steven Sallo License #3550258

    Listing office LPT REALTY 1400 South International Parkw, Lake Mary, FL

    Listing date Sep 11, 2024

    MLS# TB8303107 Listing URL

    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 six-unit multi-family property in St. Petersburg, Florida, presents an investment opportunity with 135 feet of water frontage. The property features three two-bedroom, one-bath units, two studio units, and one one-bedroom, one-bath unit. All units are currently occupied, with tenants on month-to-month agreements. Current rents are $1,800 for each of the two-bedroom units, $1,200 for each of the studio units, and $1,150 for the one-bedroom unit, generating a total monthly income of $8,950 and an annual income of $107,400. The property has undergone recent remodeling and foundation repairs have been completed. Upgraded plumbing and electrical systems were installed 4 years ago, and the central air conditioning system is also 4 years old. The property spans 3,409 square feet on a 0.36-acre lot. The property is zoned R-4. Annual expenses include $4,128 for water and garbage pickup ($250 per month and $94 per month), $6,800 for taxes, and $4,103 for insurance, totaling $15,031 annually. The net annual profit is approximately $92,368. There is an opportunity to construct an income-producing laundry building onsite as an ADU-type building. The property did not sustain any damage from recent hurricanes.

    Key Highlights

    • 10% Cap Rate with potential to increase to 12‑15% through rent increases and adding laundry facilities.
    • Waterfront property with 135 ft of frontage and an additional waterfront lot included.
    • Fully occupied multi‑unit investment property generating $107,400 annual income.

    Local 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 $61.4k $18.00
    − Vacancy −$4.4k −$1.28
    EGI $57.0k $16.72
    − OpEx −$25.7k −$7.52
    NOI $31.4k $9.20
    3,409 SF · lease $18.00/SF/yr · vacancy 7.10% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $447.9K
    $391.9K – $522.6K (±1% cap)
    NOI $31,353 @ 7.0% cap · market cap 3.22%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $886.7K
    $775.9K – $1.03M (±1% cap)
    NOI $62,070 @ 7.0% cap · market cap 6.37%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    1031 exchange properties

    Suggested Use

    Law Firm Real Estate Agency Daycare Center Parking Lot & Garage Computer & Electronic Repair Accounting Firm (Bike/Boat/Book/etc) Store Electrical Service Cosmetic Store Kitchen & Bath Showroom

    Zoning and permitted uses should be independently verified with local authorities.

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    FAQs

    What type of property is this?
    Apartment building - Six-unit property with waterfrontage and income potential in St. Petersburg.
    Where is this apartment building located?
    The property is located at 5050 74TH STREET N St Petersburg, FL.
    What is the asking price?
    The asking price for this property is $975,000.
    What are key features of this property?
    This property features: 10% Cap Rate with potential to increase to 12‑15% through rent increases and adding laundry facilities.; **Waterfront property with 135 ft of frontage and an additional waterfront lot included.**; Fully occupied multi‑unit investment property generating $107,400 annual income.
    Contact an agent
    (727) 260-2142
    We can help!
    Contact an agent
    Steven Sallo
    Real Estate License ID: 3550258
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