Five-Unit Apartment
For Sale
$895,000
Pending
944 15TH Avenue S, St Petersburg, FL 33705
MULTI_FAMILY - ST PETERSBURG, FL
Property Size3,872 SF
Lot Size0.16 Acres
Days on Market495
Property Features for 944 15TH Avenue S
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
13
Bathrooms
8
Full bathrooms
8
Rooms
Bedroom 7, Bathroom 4, Bathroom 3, Bathroom 8, Bedroom 2, Bedroom 4, Bedroom 9, Bedroom 6, Bathroom 6, Bedroom 5, Bedroom 10, Bedroom 3, Bathroom 1, Bedroom 12, Bedroom 11, Bedroom 1, Bathroom 2, Bathroom 7, Bedroom 13, Bathroom 5, Bedroom 8
Interior features
Ninguno
Exterior features
Awning(s), Fence, Sidewalk
Fencing
Fenced
Subdivision
ORANGEWOOD
Directions
From MLK St. go West on 15th Avenue S. to property
Standard status
Pending
APN
25-31-16-64728-000-0110
Size
3,872 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
ORANGEWOOD LOT 11
Tax Annual Amount
11514
Legal Description
ORANGEWOOD LOT 11
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Ductless (Heating)
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1925
Number of units
5
Building materials
Stucco
Roof type
Shingle
Listing Agency:
KELLER WILLIAMS SOUTH TAMPA · Keller Williams Realty
(813) 875-3700
Listed By:
Shawna Opdycke · License #3374267
(646) 330-8481
Added: Mar 28, 2025
Changed: Aug 1
Last Checked: Aug 4 at 7:06AM
MLS# TB8368438
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.
Five-unit apartment building on a 0.16-acre lot totaling 3,872 square feet, built in 1925 with stucco construction. The property includes window/wall unit cooling and ductless heating, fenced outdoor area, and sidewalk frontage. Updates cited include waterproof flooring in all units, plumbing and electrical updates, interior and exterior paint, cabinet updates, and A/C units. New roofs were installed on all buildings in 2022. Foundation stabilization has been completed for all 3 buildings with a lifetime warranty.
Utilities are set up with public water and public sewer, and all units are separately metered for electric and water. The property is listed as being in X Flood Zone, with no flood damage or hurricane claims made by the current owners. A common utility room is included; it previously had an on-site washer and dryer.
Zoning is stated as allowing up to 9 units by both the county and the state, supporting future development use possibilities in a developing area of St. Petersburg. Blocks away from Midtown Academy, the local library, and a community center. Showing is by appointment only; please do not disturb tenants.
Utilities are set up with public water and public sewer, and all units are separately metered for electric and water. The property is listed as being in X Flood Zone, with no flood damage or hurricane claims made by the current owners. A common utility room is included; it previously had an on-site washer and dryer.
Zoning is stated as allowing up to 9 units by both the county and the state, supporting future development use possibilities in a developing area of St. Petersburg. Blocks away from Midtown Academy, the local library, and a community center. Showing is by appointment only; please do not disturb tenants.
Key Highlights
- 944 15th Avenue S, St. Petersburg, FL 33705, 0.16‑acre lot and 3,872 SF
- New roofs installed on all buildings in 2022
- Foundation stabilization for all 3 buildings with lifetime warranty
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 | $69.7k | $18.00 |
| − Vacancy | −$4.9k | −$1.28 |
| EGI | $64.7k | $16.72 |
| − OpEx | −$29.1k | −$7.52 |
| NOI | $35.6k | $9.20 |
3,872 SF · lease $18.00/SF/yr · vacancy 7.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$508.7K
$445.1K – $593.5K
NOI $35,611 @ 7.0% cap · market cap 3.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$881.3K – $1.18M
NOI $70,500 @ 7.0% cap · market cap 7.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,604
Businesses Nearby
Explore this area
Business Placement
Demographics for 33705, FL
27,915
Population
15,171
Households
1.8
Avg Household Size
43
Median Age
36%
College-Educated
92%
High-School Grad
5.6 sq mi
ZIP Area
4,985
Density / Sq Mi
$70,783
Median Household Income
$40,370
Median Earnings
$1,457
Median Rent
$321,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Five-unit apartment property with new roofs (2022), separately metered utilities, and X Flood Zone status near central St. Petersburg.
Where is this apartment building located?
The property is located at 944 15TH Avenue S St Petersburg, FL.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: 944 15th Avenue S, St. Petersburg, FL 33705, 0.16‑acre lot and 3,872 SF; New roofs installed on all buildings in 2022; Foundation stabilization for all 3 buildings with lifetime warranty
