Renovated Triplex with In-Unit
For Sale
$499,000
2518 5TH S, St Petersburg, FL 33705
Three updated residential units offer modern finishes, private laundry, and off-street parking.
Property Size1,737 SF
Days on Market47
Property Features for 2518 5TH S
General Information
Standard status
Active
Size
1,737 SF
Property subtype
Investment
Units
Unit Mix
2 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
3
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$7,742
Amenities
in-unit washer and dryer
off-street parking
Building Details
Building Size
1,737 SF
Year Built
1938
Listing Agency:
MPGFL TAMPA LLC
Listed By:
Frank Brito · License #3542409
(631) 356-5697
Source:
Elliman
Added: Sep 18
Changed: Nov 1
Last Checked: Nov 3 at 7:25AM
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 MPGFL TAMPA LLC
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Investment Insights
Based on property information with market context.
This triplex includes three residential units arranged as two 1-bedroom, 1-bath units and one 2-bedroom, 1-bath unit. Renovations include new flooring, granite countertops, stainless-steel appliances, updated cabinetry, refreshed bathrooms, and contemporary fixtures. Each unit has its own washer and dryer, while off-street parking serves the property. The building was constructed in 1938 and occupies a double lot.
The property is located in the Harbordale neighborhood of St. Petersburg, with access to Downtown St. Petersburg, I-275, restaurants, shopping, parks, entertainment, and the waterfront. St. Petersburg beaches are also within a short drive. Walk Score is 63, Bike Score is 54, and Transit Score is 37.
The property is located in the Harbordale neighborhood of St. Petersburg, with access to Downtown St. Petersburg, I-275, restaurants, shopping, parks, entertainment, and the waterfront. St. Petersburg beaches are also within a short drive. Walk Score is 63, Bike Score is 54, and Transit Score is 37.
Key Highlights
- Three‑unit configuration with two 1/1 units and one 2/1 unit
- Extensively renovated with new flooring, granite countertops, appliances, cabinetry, bathrooms, and fixtures
- In‑unit washer and dryer in every residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,275
Cap Rate
4.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$405,500
$405.5K
Cap Rate 7%
$289,643
$289.6K
Cap Rate 9%
$225,278
$225.3K
Market Conditions
NOI Build-Up for 1,737 SF
Gross rent
$31.1K $17.88/SF
− Vacancy
−$2.1K −$1.21/SF
EGI
$29.0K $16.67/SF
− OpEx
−$8.7K −$5.00/SF
NOI
$20.3K $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 Rate 5%
$405,500
Cap Rate 7%
$289,643
Cap Rate 9%
$225,278
Alternative Uses
Best Use
Multifamily LT 5
$289.6K
$253.4K – $337.9K
NOI $20,275 @ 7.0% cap · market cap 4.06%
Second Best
Apartment 5plus
$228.2K
$199.7K – $266.3K
NOI $15,975 @ 7.0% cap · market cap 3.20%
Theoretical Best
Office A
$451.8K
$395.3K – $527.1K
NOI $31,627 @ 7.0% cap · market cap 6.34%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
389
Businesses Nearby
Explore this area
Business Placement
Demographics for 33705, FL
27,915
Population
15,171
Households
1.8
Avg Household Size
43
Median Age
36%
College-Educated
92%
High-School Grad
5.6 sq mi
ZIP Area
4,985
Density / Sq Mi
$70,783
Median Household Income
$40,370
Median Earnings
$1,457
Median Rent
$321,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three updated residential units offer modern finishes, private laundry, and off-street parking.
Where is this triplex located?
The property is located at 2518 5TH S St Petersburg, FL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Three‑unit configuration with two 1/1 units and one 2/1 unit; Extensively renovated with new flooring, granite countertops, appliances, cabinetry, bathrooms, and fixtures; In‑unit washer and dryer in every residence
