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540 14Th St N St Petersburg, FL 33705

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For Sale
$4,500,000

18-unit multifamily property in downtown St. Petersburg, fully occupied.

Lot size:
1.62 Acres

Property Features for 540 14Th St N

General Information

Property type
Investment
Standard status
Active
Lot size
1.62 Acres

Building Details

Year built
1977

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Listing Contact
David Weylie
Source: Elliman

Listing Agent: David Weylie

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

Downtown St. Petersburg Multifamily Investment

This 18-unit multifamily property is located in downtown St. Petersburg and is currently 100% occupied. The property generates an annual gross income of $323,604. The unit mix includes 4 two-bedroom apartments, 4 two-bedroom single-family homes, 3 studio apartments, and 7 one-bedroom apartments. The sale also includes a lot located between 610 14th Street and 544 14th St N. Situated next to Baycare's St Anthony's Hospital, the property benefits from a consistently high occupancy rate due to its downtown location and proximity to the hospital. There is potential for improvements and increased rents, as current rents are reportedly 15-20% below market with 60-day termination clauses. This property is intended for investment purposes.
Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

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City
St Petersburg
County
Pinellas
State
Florida
Longitude
-82.6529724
Latitude
27.7783735

FAQs

What type of property is this?
Apartment building - 18-unit multifamily property in downtown St. Petersburg, fully occupied.
Where is this apartment building located?
The property is located at 540 14Th St N St Petersburg, FL.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: - Value-add opportunity with potential to increase rents (15-20% below market).; - High occupancy rate due to desirable downtown St. Petersburg location and proximity to St. Anthony's Hospital.; - Strong annual gross income of $323,604.
More about this property
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