Five-Unit Multifamily
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
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
Wall/Window Unit(s), 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: Jul 28
Last Checked: Aug 4 at 9:06AM
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.
Investment Insights
Based on property information with market context.
This five-unit multifamily property includes multiple buildings and is described as having new roofs on all buildings installed in 2022. The listing states foundation stabilization for all three buildings with a lifetime warranty, and recent updates throughout the units, including waterproof flooring, plumbing and electrical updates, interior and exterior paint, cabinetry, and A/C units. All units are separately metered for electric and water, and current renovations are noted as underway. A common utility room is also included, with the listing indicating it previously had an on-site W/D.
The property is located in St. Petersburg, Florida, and is described as being in an X Flood Zone, with no flood damage or hurricane claims made by the current owners. The listing notes nearby proximity to Midtown Academy, a local library, and an area community center.
The property is described as being zoned for up to nine units by both the county and the state, which is presented as supporting additional development use possibilities. The listing also notes that Sec-8 inspections have previously passed on all units.
The property is located in St. Petersburg, Florida, and is described as being in an X Flood Zone, with no flood damage or hurricane claims made by the current owners. The listing notes nearby proximity to Midtown Academy, a local library, and an area community center.
The property is described as being zoned for up to nine units by both the county and the state, which is presented as supporting additional development use possibilities. The listing also notes that Sec-8 inspections have previously passed on all units.
Key Highlights
- 5‑unit multi‑family property built in 1925
- New roofs on all buildings (2022)
- Foundation stabilization completed 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
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Frequently Asked Questions
What type of property is this?
Apartment building - Five-unit multifamily property with separate electric and water meters and new roofs installed in 2022.
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‑unit multi‑family property built in 1925; New roofs on all buildings (2022); Foundation stabilization completed for all 3 buildings with lifetime warranty
