4-Unit
New
For Sale
$399,900
1139 40TH STREET S, St Petersburg, FL 33711
Two matching duplex buildings provide a consistent layout across the property.
Property Size1,760 SF
Price / SF$227.22
Days on Market6
Property Features for 1139 40TH STREET S
General Information
Standard status
Active
Size
1,760 SF
Total Parking Spaces
4
Property subtype
Quadruplex
Occupancy
100%
Units
Unit Mix
4 x 1BR
Multifamily Units
4
Building Details
Year Built
1959
Buildings
2
Listing Agency:
SPENCERS PLUS REALTY LLC
(727) 481-3517
Listed By:
George Spencer · License #3090085
(727) 743-6954
Source:
Endlesssummerrealty
Added: Oct 15
Changed: Oct 19
Last Checked: Oct 19 at 2:33PM
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 SPENCERS PLUS REALTY LLC
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Investment Insights
Based on property information with market context.
At 1139 40th Street S, the property comprises two duplex buildings with four matching one-bedroom apartments. The buildings contain a combined 1,760 square feet and were built in 1959. Each apartment has separately metered water and power, and a separate outbuilding provides storage space or could be adapted for laundry use.
All four apartments are leased, with three tenants described as long-term residents. The property includes four dedicated off-street parking spaces, along with street parking. The repeated unit layout and separate utility meters are consistent features across the four apartments.
All four apartments are leased, with three tenants described as long-term residents. The property includes four dedicated off-street parking spaces, along with street parking. The repeated unit layout and separate utility meters are consistent features across the four apartments.
Key Highlights
- Four one‑bedroom apartments across two duplex buildings
- 1,760 square feet; built in 1959
- All four units are leased; three tenants are long‑term residents
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,543
Cap Rate
5.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$410,860
$410.9K
Cap Rate 7%
$293,471
$293.5K
Cap Rate 9%
$228,256
$228.3K
Market Conditions
NOI Build-Up for 1,760 SF
Gross rent
$31.5K $17.88/SF
− Vacancy
−$2.1K −$1.21/SF
EGI
$29.3K $16.67/SF
− OpEx
−$8.8K −$5.00/SF
NOI
$20.5K $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 Rate 5%
$410,860
Cap Rate 7%
$293,471
Cap Rate 9%
$228,256
Alternative Uses
Best Use
Multifamily LT 5
$293.5K
$256.8K – $342.4K
NOI $20,543 @ 7.0% cap · market cap 5.14%
Second Best
Apartment 5plus
$231.2K
$202.3K – $269.8K
NOI $16,187 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$457.8K
$400.6K – $534.1K
NOI $32,045 @ 7.0% cap · market cap 8.01%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
501
Businesses Nearby
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Business Placement
Demographics for 33711, FL
20,121
Population
9,522
Households
2.1
Avg Household Size
41
Median Age
32%
College-Educated
96%
High-School Grad
4.7 sq mi
ZIP Area
4,281
Density / Sq Mi
$68,295
Median Household Income
$27,156
Median Earnings
$1,819
Median Rent
$253,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Two matching duplex buildings provide a consistent layout across the property.
Where is this quadplex located?
The property is located at 1139 40TH STREET S St Petersburg, FL.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Four one‑bedroom apartments across two duplex buildings; 1,760 square feet; built in 1959; All four units are leased; three tenants are long‑term residents
