Duplex With Attached
6119 38TH N AVENUE 1&2 St Petersburg, FL 33710
6119 38TH N AVENUE 1&2, St Petersburg, FL, 33710
$309,900
Pending
For Sale
$309,900
Pending
Duplex with a vacant 1BR unit featuring an attached enclosed porch and a 2BR unit currently leased.
Property Size1,230 SF
Days on Market566
Property Features for 6119 38TH N AVENUE 1&2
General Information
- Standard status
- Pending
- Size
- 1,230 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1949
Listing agency
RE/MAX ELITE REALTY
(727) 403-3900
Listed by
Matthew Brashear · License #572618
(727) 403-3900
Source
Exitrealty
Added: Jan 3, 2025 Updated: Jul 21 at 5:02PM Checked: Jul 22 at 10:04AM
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 ELITE REALTY
Investment Insights
Based on property information with market context.
Duplex offered for sale with two separate units. Unit #1 is vacant and features one bedroom and one bathroom, including a large living room and an attached enclosed porch. Unit #1 also includes a kitchen with a dinette and access to a 1-car garage with a utility room.
Unit #2 is occupied and features two bedrooms and one bathroom. It is currently rented through 05/11/2024, and the rent is stated as $1,625 per month and includes utilities. Per the seller, tenant privacy should be respected and Unit #2 should not be approached.
The property is described as approximately 10 minutes from downtown St. Petersburg, with the beach a short drive away. The remarks also cite easy access to nearby parks and waterfront recreation, and access to HWY 275 for routes toward downtown Tampa or Sarasota.
Unit #2 is occupied and features two bedrooms and one bathroom. It is currently rented through 05/11/2024, and the rent is stated as $1,625 per month and includes utilities. Per the seller, tenant privacy should be respected and Unit #2 should not be approached.
The property is described as approximately 10 minutes from downtown St. Petersburg, with the beach a short drive away. The remarks also cite easy access to nearby parks and waterfront recreation, and access to HWY 275 for routes toward downtown Tampa or Sarasota.
Key Highlights
- Duplex built in 1949 with two units: Unit #1 and Unit #2
- Unit #1 is a vacant 1 bed/1 bath with a large living room and attached enclosed porch
- Unit #2 is a 2 bed/1 bath currently rented for $1,625/month (utilities included) through 05/11/2024
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 | $22.0k | $17.88 |
| − Vacancy | −$1.5k | −$1.21 |
| EGI | $20.5k | $16.67 |
| − OpEx | −$6.2k | −$5.00 |
| NOI | $14.4k | $11.67 |
1,230 SF · lease $17.88/SF/yr · vacancy 6.74% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$205.1K
$179.5K – $239.3K
NOI $14,357 @ 7.0% cap · market cap 4.63%
Second Best
Apartment 5plus
$161.6K
$141.4K – $188.5K
NOI $11,312 @ 7.0% cap · market cap 3.65%
Theoretical Best
Office A
$319.9K
$279.9K – $373.3K
NOI $22,395 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Duplex with a vacant 1BR unit featuring an attached enclosed porch and a 2BR unit currently leased.
Where is this duplex located?
The property is located at 6119 38TH N AVENUE 1&2 St Petersburg, FL.
What is the asking price?
The asking price for this property is $309,900.
What are key features of this property?
This property features: Duplex built in 1949 with two units: Unit #1 and Unit #2; Unit #1 is a vacant 1 bed/1 bath with a large living room and attached enclosed porch; Unit #2 is a 2 bed/1 bath currently rented for $1,625/month (utilities included) through 05/11/2024
