245- 247 38th SE Ave, Saint Petersburg, FL 33705
MULTI_FAMILY - Saint Petersburg, FL
- Added:
- Mar 4, 2026
- Days on Market:
- 121
- Last Refresh:
- Jul 3 at 1:06 am
Property Features for 245- 247 38th SE Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 4
- Rooms
- Bathroom 1, Bathroom 4, Bedroom 3, Bedroom 6, Laundry Room, Bedroom 5, Bedroom 1, Bedroom 2, Bathroom 2, Bedroom 4, Bathroom 3
- Interior features
- Master Downstairs
- Standard status
- Active
- Size
- 2,356 SF
- Lot size
- 0.16 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 6421
Utilities
- Heating system
- Electric (Heating), Forced Air
- Water source
- Public
Building Details
- Year built
- 1959
- Floors in Building
- 1
- Flooring type
- Tile
- Roof type
- Asphalt
Listing agent Brenda Bianchi License #574181 (727) 638-8636
Listing office BIANCHI REALTY & PROPERTY MANAGEMENT INC 9180 OAKHURST RD, SUITE 1, Seminole, FL (727) 638-8636
Listing date Mar 4, 2026
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Concrete block multi‑family with two 3‑bedroom, 2‑bath units
- Approximately 2,140 SF heated living space on a 75 x 90 lot in the Lewis Island area
- Each unit has its own water and electric meters
- Central air, with electric forced air heating; asphalt shingle roof
- Updated interiors include tile flooring, refreshed kitchens with stone countertops and tile backsplash, and renovated bathrooms with modern subway tile
- Garage parking included; year built 1959
Overview
The duplex is located in the Lewis Island area of Saint Petersburg, just minutes from downtown St. Petersburg, waterfront parks, shopping, dining, and major commuter routes. The listing also notes that each unit has its own meters for water and electric.
For investors or owner-occupants, the two-unit layout provides flexibility to rent both units or live in one while leasing the other. With separate water and electric metering and tenant-focused updates throughout both interiors, the property is positioned for straightforward long-term residential income use within a two-family structure.
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 | $42.1k | $17.88 |
| − Vacancy | −$2.8k | −$1.21 |
| EGI | $39.3k | $16.67 |
| − OpEx | −$11.8k | −$5.00 |
| NOI | $27.5k | $11.67 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Saint Petersburg
- County
- Pinellas
- State
- Florida
- Longitude
- -82.632867
- Latitude
- 27.734474
