Renovated Triplex With Detached
For Sale
$789,000
127 17TH Avenue S, St Petersburg, FL 33701
Residential Income, ST PETERSBURG, FL
Property Size2,276 SF
Lot Size0.16 Acres
Price / SF$346.66
Days on Market191
Property Features for 127 17TH Avenue S
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bathroom 2, Bedroom 5, Bathroom 1, Bedroom 4, Bedroom 1, Bedroom 2, Bathroom 4, Bedroom 3
Parking features
Driveway
Window features
Double Pane Windows, Insulated Windows
Patio and Porch features
Patio
Interior features
Ceiling Fans(s), High Ceilings, Open Floorplan, Split Bedroom, Stone Counters
Exterior features
Outbuildings, Fence, Storage
Fencing
Fenced
Fireplace
1
Appliances
Dishwasher, Disposal, Dryer, Electric Water Heater, Microwave, Range, Refrigerator, Tankless Water Heater, Washer
Subdivision
BAYBORO
Elementary school
Campbell Park Elementary-PN
Middle school
John Hopkins Middle-PN
High school
Gibbs High-PN
Directions
From 4th St S and 18th Ave S, go east on 18th. Turn left (north) on 1st and left (west) on 17th. Triplex is on the right.
Standard status
Active
APN
30-31-17-03294-028-0120
Size
2,276 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BAYBORO BLK 28, LOT 12
Tax Annual Amount
12896
Legal Description
BAYBORO BLK 28, LOT 12
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
private back patio
laundry area
private balcony
enclosed air conditioned porch
Building Details
Year built
1920
Floors in Building
2
Number of units
4
Flooring type
Vinyl
Building materials
Frame
Roof type
Built-Up, Shingle
Additional Structures
Outbuilding, Storage
Listing Agency:
CHARLES RUTENBERG REALTY INC
(727) 538-9200
Listed By:
Curtis Rudolph · License #261547848
(813) 240-6054
Added: Mar 13
Changed: Sep 18
Last Checked: Sep 19 at 12:06AM
MLS# TB8482976
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1920 triplex contains 2,276 square feet across three updated units: a first-floor 3BR/2BA residence with a bonus office and enclosed air-conditioned porch, plus two upstairs 1BR/1BA apartments with living rooms and private balconies. Renovations include impact windows and doors installed in 2023, a 2015 roof, luxury vinyl flooring, refreshed kitchens and bathrooms, tankless water heaters, and ceiling fans. The property also includes a 23' x 22' detached garage with alley access, a fenced patio, storage, laundry access, central air, and public water and sewer. Driveway and alley-entry parking accommodate 4 vehicles.
Set in St. Petersburg's Old Southeast, the property is near downtown, Tampa Bay, and Lassing Park. Its 0.16-acre site is outside a flood zone. The garage provides additional enclosed space, while the existing three-unit arrangement offers separate residential areas within one property. The address is tenant occupied, and showings require coordination.
Set in St. Petersburg's Old Southeast, the property is near downtown, Tampa Bay, and Lassing Park. Its 0.16-acre site is outside a flood zone. The garage provides additional enclosed space, while the existing three-unit arrangement offers separate residential areas within one property. The address is tenant occupied, and showings require coordination.
Key Highlights
- Three‑unit configuration: one 3BR/2BA residence plus two 1BR/1BA apartments
- 2,276 square feet on a 0.16‑acre site
- 23' x 22' detached garage with alley entrance
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$26,566
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.37%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$531,320
$531.3K
Cap Rate 7%
$379,514
$379.5K
Cap Rate 9%
$295,178
$295.2K
Market Conditions
NOI Build-Up for 2,276 SF
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.
Gross rent
$40.7K $17.88/SF
− Vacancy
−$2.7K −$1.21/SF
EGI
$38.0K $16.67/SF
− OpEx
−$11.4K −$5.00/SF
NOI
$26.6K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$531,320
Cap Rate 7%
$379,514
Cap Rate 9%
$295,178
Alternative Uses
Best Use
Multifamily LT 5
$379.5K
$332.1K – $442.8K
NOI $26,566 @ 7.0% cap · market cap 3.37%
Second Best
Apartment 5plus
$299.0K
$261.7K – $348.9K
NOI $20,933 @ 7.0% cap · market cap 2.65%
Theoretical Best
Office A
$592.0K
$518.0K – $690.7K
NOI $41,440 @ 7.0% cap · market cap 5.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
693
Businesses Nearby
Explore this area
Business Placement
Demographics for 33701, FL
19,137
Population
13,434
Households
1.4
Avg Household Size
48
Median Age
55%
College-Educated
96%
High-School Grad
2.7 sq mi
ZIP Area
7,088
Density / Sq Mi
$69,098
Median Household Income
$48,072
Median Earnings
$1,531
Median Rent
$590,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Updated three-unit property with a three-bedroom residence, two one-bedroom apartments, private balconies, and alley-accessed parking.
Where is this triplex located?
The property is located at 127 17TH Avenue S St Petersburg, FL.
What is the asking price?
The asking price for this property is $789,000.
What are key features of this property?
This property features: Three‑unit configuration: one 3BR/2BA residence plus two 1BR/1BA apartments; 2,276 square feet on a 0.16‑acre site; 23' x 22' detached garage with alley entrance
