4-Unit Multifamily
2601 61ST AVE N, St Petersburg, FL 33714
For Sale
$599,900
Three apartments have two bedrooms and one bath, complemented by an efficiency unit.
Property Size3,090 SF
Days on Market138
Property Features for 2601 61ST AVE N
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
private washer/dryer hookups
private fenced backyard spaces with gated access
Building Details
Building Size
Year Built
Listing Agency:
DIRECT EXPRESS REALTY
Listed By:
Joe Cavaleri
(727) 827-2884
Source:
Judibeck
Added: Jun 26
Changed: Nov 10
Last Checked: Nov 10 at 2:19PM
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 DIRECT EXPRESS REALTY
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Investment Insights
Based on property information with market context.
Built in 1974, this four-unit multifamily property contains three two-bedroom, one-bath apartments of approximately 900 square feet each, plus an efficiency. Unit B has been remodeled and is vacant. Private washer and dryer hookups serve the apartments, and fenced backyard areas have gated access.
One apartment is leased to the U.S. Coast Guard. The vacant remodeled unit offers a separate leasing opportunity for a new occupant.
One apartment is leased to the U.S. Coast Guard. The vacant remodeled unit offers a separate leasing opportunity for a new occupant.
Key Highlights
- Four residential units: three 2‑bedroom, 1‑bath apartments and one efficiency
- Each of the three apartments is approximately 900 square feet
- One unit is leased to the U.S. Coast Guard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,068
Cap Rate
6.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$721,360
$721.4K
Cap Rate 7%
$515,257
$515.3K
Cap Rate 9%
$400,756
$400.8K
Market Conditions
NOI Build-Up for 3,090 SF
Gross rent
$55.2K $17.88/SF
− Vacancy
−$3.7K −$1.21/SF
EGI
$51.5K $16.67/SF
− OpEx
−$15.5K −$5.00/SF
NOI
$36.1K $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%
$721,360
Cap Rate 7%
$515,257
Cap Rate 9%
$400,756
Alternative Uses
Best Use
Multifamily LT 5
$515.3K
$450.9K – $601.1K
NOI $36,068 @ 7.0% cap · market cap 6.01%
Second Best
Apartment 5plus
$479.1K
$419.2K – $558.9K
NOI $33,534 @ 7.0% cap · market cap 5.59%
Theoretical Best
Office A
$803.7K
$703.3K – $937.7K
NOI $56,261 @ 7.0% cap · market cap 9.38%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
446
Businesses Nearby
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Business Placement
Demographics for 33714, FL
19,905
Population
9,889
Households
2
Avg Household Size
44
Median Age
20%
College-Educated
86%
High-School Grad
3.7 sq mi
ZIP Area
5,380
Density / Sq Mi
$47,221
Median Household Income
$36,207
Median Earnings
$1,270
Median Rent
$177,500
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in St Petersburg, FL
Properties on Market for Quadplexes in St Petersburg
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Three apartments have two bedrooms and one bath, complemented by an efficiency unit.
Where is this quadplex located?
The property is located at 2601 61ST AVE N St Petersburg, FL.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Four residential units: three 2‑bedroom, 1‑bath apartments and one efficiency; Each of the three apartments is approximately 900 square feet; One unit is leased to the U.S. Coast Guard
