Renovated Four-Unit Apartment
New
For Sale
$615,000
1033 19TH S, St Petersburg, FL 33705
Two-story multifamily property with renovated interiors, updated exterior finishes, fenced grounds, and parking serving all residences.
Property Size2,892 SF
Days on Market4
Property Features for 1033 19TH S
General Information
Standard status
Active
Size
2,892 SF
Property subtype
Investment
Financials
Gross Income
$64,800
Average Monthly Rent
$1,350
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$6,577
Amenities
fully fenced yard
Building Details
Building Size
2,892 SF
Year Built
1925
Year Renovated
2025
Buildings
1
Stories
2
Listing Agency:
Keller Williams South Tampa
(813) 505-3625
Listed By:
Aldo Delacruz · License #3324423
(813) 505-3625
Source:
Elliman
Added: Aug 15
Changed: Aug 17
Last Checked: Aug 18 at 6:40AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams South Tampa
Investment Insights
Based on property information with market context.
This two-story quadplex contains four matching apartments, with two residences on each level. Every unit includes 2 bedrooms and 1 bathroom. Interior improvements and exterior painting were completed in 2025, giving the property a consistent updated presentation across the building.
The property sits on a large lot with parking areas at both the front and rear. A fully fenced yard adds defined outdoor space around the asset. The property is positioned in a residential neighborhood near downtown St. Petersburg, with access to I-275. Walk Score is 63, Bike Score is 54, and Transit Score is 37.
The property sits on a large lot with parking areas at both the front and rear. A fully fenced yard adds defined outdoor space around the asset. The property is positioned in a residential neighborhood near downtown St. Petersburg, with access to I-275. Walk Score is 63, Bike Score is 54, and Transit Score is 37.
Key Highlights
- Four apartments, each with 2 bedrooms and 1 bathroom
- Renovated in 2025 with updated interiors and freshly painted exterior
- Two‑story layout with two units upstairs and two downstairs
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,757
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.49%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$675,140
$675.1K
Cap Rate 7%
$482,243
$482.2K
Cap Rate 9%
$375,078
$375.1K
Market Conditions
NOI Build-Up for 2,892 SF
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.
Gross rent
$51.7K $17.88/SF
− Vacancy
−$3.5K −$1.21/SF
EGI
$48.2K $16.67/SF
− OpEx
−$14.5K −$5.00/SF
NOI
$33.8K $11.67/SF
Area
Pinellas County, FL
Vacancy
6.74%
Lease Rate
$17.88 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$675,140
Cap Rate 7%
$482,243
Cap Rate 9%
$375,078
Alternative Uses
Best Use
Multifamily LT 5
$482.2K
$422.0K – $562.6K
NOI $33,757 @ 7.0% cap · market cap 5.49%
Second Best
Apartment 5plus
$380.0K
$332.5K – $443.3K
NOI $26,598 @ 7.0% cap · market cap 4.32%
Theoretical Best
Office A
$752.2K
$658.2K – $877.6K
NOI $52,656 @ 7.0% cap · market cap 8.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
712
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?
Quadplex - Two-story multifamily property with renovated interiors, updated exterior finishes, fenced grounds, and parking serving all residences.
Where is this quadplex located?
The property is located at 1033 19TH S St Petersburg, FL.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: Four apartments, each with 2 bedrooms and 1 bathroom; Renovated in 2025 with updated interiors and freshly painted exterior; Two‑story layout with two units upstairs and two downstairs
