5-Unit Apartment
For Sale
$895,000
Pending
944 15TH Avenue S, St Petersburg, FL 33705
Commercial Sale, ST PETERSBURG, FL
Property Size3,872 SF
Lot Size0.16 Acres
Days on Market586
Property Features for 944 15TH Avenue S
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
ORANGEWOOD
Directions
South on I-275. Exit 22 for I-175 E. Exit toward ML King Jr St. Merge onto 5th Ave S. Turn right onto 9th St. S. Turn right onto 15th Ave S.
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
Sewer type
Public Sewer
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1925
Floors in Building
2
Number of units
5
Flooring type
Laminate
Building materials
Stucco
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: Oct 16
Last Checked: Nov 3 at 4:06PM
MLS# TB8367634
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.
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Investment Insights
Based on property information with market context.
This 5-unit apartment property includes 3 buildings totaling 3,872 square feet on 0.16 acres. The improvements date to 1925 and feature stucco construction, laminate flooring, wall or window cooling, and public water and sewer service. Each unit is separately metered for electric and water. Recent work includes waterproof flooring, plumbing and electrical improvements, interior and exterior painting, cabinets, and air-conditioning units, with additional renovations underway.
All three buildings received new roofs in 2022, and foundation stabilization was completed with a lifetime warranty. The property is located in St. Petersburg near Midtown Academy, a local library, a community center, Downtown St. Pete, and Tropicana Field. It is in an X Flood Zone and is zoned for up to 9 units by the county and state. A shared utility room formerly housed on-site laundry equipment.
All three buildings received new roofs in 2022, and foundation stabilization was completed with a lifetime warranty. The property is located in St. Petersburg near Midtown Academy, a local library, a community center, Downtown St. Pete, and Tropicana Field. It is in an X Flood Zone and is zoned for up to 9 units by the county and state. A shared utility room formerly housed on-site laundry equipment.
Key Highlights
- 5 units across 3 buildings totaling 3,872 square feet
- 0.16‑acre property in St. Petersburg, FL 33705
- New roofs installed on all buildings in 2022
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,611
Cap Rate
3.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$712,220
$712.2K
Cap Rate 7%
$508,729
$508.7K
Cap Rate 9%
$395,678
$395.7K
Market Conditions
NOI Build-Up for 3,872 SF
Gross rent
$69.7K $18.00/SF
− Vacancy
−$4.9K −$1.28/SF
EGI
$64.7K $16.72/SF
− OpEx
−$29.1K −$7.52/SF
NOI
$35.6K $9.20/SF
Area
Pinellas County, FL
Vacancy
7.10%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$712,220
Cap Rate 7%
$508,729
Cap Rate 9%
$395,678
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.
How Realmo checks its estimates
Property Analytics
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Lease Details
5
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,778
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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Updated multifamily asset with separate electric and water metering, public utilities, and zoning for up to 9 units.
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: 5 units across 3 buildings totaling 3,872 square feet; 0.16‑acre property in St. Petersburg, FL 33705; New roofs installed on all buildings in 2022
