St. Petersburg Multi-Family Investment
944 15TH AVENUE S St Petersburg, FL 33705
944 15TH AVENUE S, St Petersburg, FL, 33705
$895,000
Pending
For Sale
$895,000
Pending
Multi Family - ST PETERSBURG, FL
Property Size3,872 SF
Lot Size0.16 Acres
Days on Market479
Property Features for 944 15TH AVENUE S
General Information
- Property type
- Residential Multi Family
- Bedrooms
- 13
- Rooms
- Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
- Interior features
- Ninguno
- Exterior features
- Awning(s), Fence, Sidewalk
- Fencing
- Fenced
- 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 Annual Amount
- 11514.21
Utilities
- Heating system
- Ductless (Heating)
- Cooling system
- Multi Units, Wall/Window Unit(s), Window Unit(s)
Building Details
- Year built
- 1925
- Number of units
- 5
- Building materials
- Stucco
- Roof type
- Shingle
- Architectural style
- Other
Listing Agency
KELLER WILLIAMS SOUTH TAMPA
(813) 875-3700
3003 W. Azeele St., Tampa, FL
Listed by
Shawna Opdycke · License #3374267
(646) 330-8481
Added: Mar 28, 2025 Checked: Jul 19 at 8:06 am
MLS# TB8368438
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 five-unit multi-family investment property is located minutes from Downtown St. Pete and Tropicana Field. The property is situated in an X Flood Zone, with no flood damage or hurricane claims made by the current owners. New roofs were installed on all buildings in 2022, and foundation stabilization has been completed for all three buildings with a lifetime warranty. Each unit is separately metered for electric and water. Recent updates include waterproof flooring in all units, plumbing and electrical upgrades, interior and exterior paint, cabinets, and A/C units, with current renovations underway. The property is located within blocks of Midtown Academy, the local library, and the area Community Center. Zoned for up to nine units by both the county and the state, this property offers future use possibilities in a developing area of St. Petersburg. A common utility room previously housed an on-site washer and dryer, presenting an opportunity to add additional revenue through a coin-operated laundry facility. Section 8 inspections have previously passed on all units, and Section 8 rates provide a strong CAP Rate for this investment property. The property size is 3,872 square feet and the lot size is 0.16 acres.
Key Highlights
- Rare 5‑unit multi‑family investment property minutes from Downtown St. Pete and Tropicana Field.
- Zoned for up to 9 units, offering significant future development potential.
- New roofs (2022) and foundation stabilization with Lifetime Warranty on all buildings.
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 | $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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Agape House TLF ...
Rehabilitation Center
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Five-unit property near downtown St. Pete with development potential.
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: Rare 5‑unit multi‑family investment property minutes from Downtown St. Pete and Tropicana Field.; Zoned for up to 9 units, offering significant future development potential.; New roofs (2022) and foundation stabilization with Lifetime Warranty on all buildings.
