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Historic Old Northeast Apartments

121 18TH Ave N, St Petersburg, FL 33704

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For Sale

$2,500,000

Seven-unit multifamily property in St. Petersburg's Historic Old Northeast.

Type:Investment

Property size:

4,200 SF

Price / SF:

$595/SF

HighLights

Prime location in the prestigious Historic Old Northeast neighborhood, near downtown St. Petersburg and the Beach Drive Scene.
Turnkey investment opportunity with fully renovated (gut‑rehab) one‑bedroom apartments.
Potential for seller financing and ongoing management services.
Strong income potential with a 4% Cap Rate (based on seller's income and buyer's projected expenses).
All utilities and internet/WiFi are master metered and reimbursed by tenants.
Proximity to waterfront parks, attractions like the New Pete Pier, and a high bike score (77).

We can help!

Listing Contact

Kyle Collins

Learn more

For Sale

$2,500,000

Seven-unit multifamily property in St. Petersburg's Historic Old Northeast.

Type:Investment

Property size:

4,200 SF

Price / SF:

$595/SF

Added:: Apr 21, 2026
Days on Market:: 52
Last Refresh:: Apr 21 at 1:04 am

Property Features for 121 18TH Ave N

General Information

Standard status: Active
Size: 4,200 SF
Property subtype: Investment

Building Details

Year Built: 1921

We can help!

Listing Contact

Kyle Collins

Listing agent Kyle Collins License #3350352

Listing office RE/MAX Action First

Listing date Apr 21, 2026

Source Elliman

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 RE/MAX Action First

HighLights

Prime location in the prestigious Historic Old Northeast neighborhood, near downtown St. Petersburg and the Beach Drive Scene.
Turnkey investment opportunity with fully renovated (gut‑rehab) one‑bedroom apartments.
Potential for seller financing and ongoing management services.
Strong income potential with a 4% Cap Rate (based on seller's income and buyer's projected expenses).
All utilities and internet/WiFi are master metered and reimbursed by tenants.
Proximity to waterfront parks, attractions like the New Pete Pier, and a high bike score (77).

Overview

Melrose Place Apartments is a seven-unit multifamily property located among luxury homes in the Historic Old Northeast of St. Petersburg, Florida. Each one-bedroom, one-bath apartment, averaging approximately 600 sq ft, has been fully renovated. One apartment is partially furnished. Tenants sign traditional 12-month leases. All utilities and Internet/WiFi connectivity are paid by the owner via master meters, with full reimbursement per monthly charge to tenants. The property is situated minutes from Beach Drive, St. Pete’s hub for dining, entertainment, nightlife, galleries. The location offers proximity to downtown, waterfront parks, and avenues. Nearby Vinoy Park on Tampa Bay features green space, a sports and aquatic complex, fitness trails, a dog park, and beach volleyball. City attractions include the New Pete Pier, Watch Discovery Center, and Museum of History. Acquisition of Melrose Place is suited for investors seeking to establish a foothold in Historic Old Northeast. The property may be suitable for a 1031 Exchange, or to expand a portfolio of real estate investments. The bike score is 77, indicating it is very bikeable. The walk score is 53, indicating it is somewhat walkable. The transit score is 32, indicating some transit options are available.

Location Intelligence

Current Use by Public Records

Melrose Place Apartments Apartment Building

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Location Insight

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Local Demand

City: St Petersburg
County: Pinellas
State: Florida
Longitude: -82.6353635
Latitude: 27.7896921

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For sale
Apartment buildings
FL
St Petersburg
33704
121 18TH Ave N

What type of property is this?

Apartment building - Seven-unit multifamily property in St. Petersburg's Historic Old Northeast.

Where is this apartment building located?

The property is located at 121 18TH Ave N St Petersburg, FL.

What is the asking price?

The asking price for this property is $2,500,000.

What are key features of this property?

This property features: Prime location in the prestigious Historic Old Northeast neighborhood, near downtown St. Petersburg and the Beach Drive Scene.; Turnkey investment opportunity with **fully renovated (gut‑rehab) one‑bedroom apartments**.; Potential for seller financing and ongoing management services.