Historic Uptown Triplex
1115 HIGHLAND N STREET St Petersburg, FL 33701
1115 HIGHLAND N STREET, St Petersburg, FL, 33701
$650,000
For Sale
$650,000
Triplex with three separate units, private entrances, decks, coin laundry, and parking for four vehicles.
Property Size1,724 SF
Price / SF$377.03
Days on Market658
Property Features for 1115 HIGHLAND N STREET
General Information
- Standard status
- Active
- Size
- 1,724 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1925
Listing agency
SMITH & ASSOCIATES REAL ESTATE
(727) 643-2708
Listed by
Brian Waechter · License #3406974
(727) 643-2708
Source
Exitrealty
Added: Oct 2, 2024 Updated: Jul 20 at 6:32PM Checked: Jul 21 at 5:07AM
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 SMITH & ASSOCIATES REAL ESTATE
Investment Insights
Based on property information with market context.
This well-maintained triplex offers three residential units with private entrances, including two upper 1-bedroom units and a downstairs 2-bedroom unit. The upper units each feature a private deck, and the property includes a large ground-floor front patio that functions as a common outdoor space. Kitchens across the units are described as light, bright, and spacious, and the units feature terracotta flooring throughout. An on-site coin laundry is provided, along with off-street parking for four vehicles.
The property is located in Historic Uptown on a 125' deep lot, just minutes from Crescent Lake Park and downtown. All units are separately metered for electricity, and tenants currently pay for water usage.
As currently configured, the two upstairs 1-bedroom units are rented through Nov 2024 and March 2025, while the downstairs 2-bedroom unit is vacant and most recently served as the owners unit.
The property is located in Historic Uptown on a 125' deep lot, just minutes from Crescent Lake Park and downtown. All units are separately metered for electricity, and tenants currently pay for water usage.
As currently configured, the two upstairs 1-bedroom units are rented through Nov 2024 and March 2025, while the downstairs 2-bedroom unit is vacant and most recently served as the owners unit.
Key Highlights
- Built in 1925, high and dry in a non‑evacuation zone
- 3‑unit triplex with separate utility metering: units separately metered for electricity; tenants pay for water usage
- 2 upstairs 1‑bedroom units are rented through Nov 2024 and March 2025; downstairs 2‑bedroom unit is vacant
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $30.8k | $17.88 |
| − Vacancy | −$2.1k | −$1.21 |
| EGI | $28.7k | $16.67 |
| − OpEx | −$8.6k | −$5.00 |
| NOI | $20.1k | $11.67 |
1,724 SF · lease $17.88/SF/yr · vacancy 6.74% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$287.5K
$251.5K – $335.4K
NOI $20,123 @ 7.0% cap · market cap 3.10%
Second Best
Apartment 5plus
$226.5K
$198.2K – $264.3K
NOI $15,856 @ 7.0% cap · market cap 2.44%
Theoretical Best
Office A
$448.4K
$392.4K – $523.2K
NOI $31,390 @ 7.0% cap · market cap 4.83%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Triplex with three separate units, private entrances, decks, coin laundry, and parking for four vehicles.
Where is this triplex located?
The property is located at 1115 HIGHLAND N STREET St Petersburg, FL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Built in 1925, high and dry in a non‑evacuation zone; 3‑unit triplex with separate utility metering: units separately metered for electricity; tenants pay for water usage; 2 upstairs 1‑bedroom units are rented through Nov 2024 and March 2025; downstairs 2‑bedroom unit is vacant
