Waterfront Multifamily Investment
5050 74TH N STREET 1, St Petersburg, FL 33709
Six-unit property with waterfrontage, high cap rate, and renovation potential.
Type:Multi Family
Property size:
3,409 SFLot size:
0.36 AcresPrice / SF:
$286/SF- Added:
- Mar 23, 2026
- Days on Market:
- 48
- Last Refresh:
- Apr 6 at 1:01 am
Property Features for 5050 74TH N STREET 1
General Information
- Standard status
- Active
- Size
- 3,409 SF
- Lot size
- 0.36 Acres
- Property subtype
- Multi Family
Building Details
- Year Built
- 1980
Listing agent Steven Sallo License #3550258
Listing office LPT REALTY, LLC (877) 366-2213
Listing date Mar 23, 2026
Source Exitrealty
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 LPT REALTY, LLC
HighLights
- Boasting a 10% Cap Rate with potential to increase to 12‑15%.
- Multi‑unit investment opportunity featuring 6 units and 135ft of waterfrontage.
- Benefit from an additional waterfront lot included.
- Fully occupied with month‑to‑month tenants, generating $107,400 annual income.
- Foundation repairs completed, upgraded plumbing and electrical (4 years ago), and central air (4 years old).
- Enjoy peace of mind with no hurricane damage and no flooding in the last 20 years.
Overview
This six-unit multifamily property presents an investment opportunity in a St. Pete neighborhood, featuring 135 feet of waterfrontage. The property includes an additional waterfront lot. The building comprises three two-bedroom, one-bath units, two studio units, and one one-bedroom, one-bath unit. All units are currently occupied, with tenants on month-to-month agreements. Current rents are $1,800 for each of the two-bedroom units, $1,200 for each of the studio units, and $1,150 for the one-bedroom unit, generating a total monthly income of $8,950, or $107,400 annually. Expenses include $250 per month for water and garbage pickup ($4,128 annually), property taxes of $6,800 annually, and insurance of $4,103 annually, totaling $15,031 in annual expenses. The net annual profit is approximately $92,368. Upgraded plumbing and electrical systems were installed 4 years ago, and the central air conditioning system is also 4 years old. There is an opportunity to construct an income-producing laundry building onsite, potentially as an ADU-type building. The property has a 10% cap rate, with the potential to increase to 12-15% through rent increases and the addition of a laundry area. The property size is 3409 square feet.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
1031 exchange properties
Location Insight
- Map
- Local Demand
- City
- St Petersburg
- County
- Pinellas
- State
- Florida
- Longitude
- -82.741429
- Latitude
- 27.8178815
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Six-unit property with waterfrontage, high cap rate, and renovation potential.
Where is this apartment building located?
The property is located at 5050 74TH N STREET 1 St Petersburg, FL.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Boasting a **10% Cap Rate with potential to increase to 12‑15%**.; Multi‑unit investment opportunity featuring 6 units and **135ft of waterfrontage**.; Benefit from an additional waterfront lot included.
