Furnished Quadplex
New
For Sale
$385,000
2629 14TH AVENUE S, St Petersburg, FL 33712
Furnished shared-housing property with a flexible room arrangement and nearby public transit access.
Property Size1,860 SF
Price / SF$206.99
Days on Market3
Property Features for 2629 14TH AVENUE S
General Information
Standard status
Active
Size
1,860 SF
Property subtype
Quadruplex
Additional Details
Furnished
Yes
Public Transit
Yes
Multifamily Units
1
Building Details
Year Built
1954
Buildings
1
Listing Agency:
COMPASS FLORIDA LLC
(727) 380-2067
Listed By:
Kim Meredith-Hampton · License #601196
(727) 295-0000
Source:
Dennisrealty
Added: Sep 21
Changed: Sep 22
Last Checked: Sep 22 at 1:39PM
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 COMPASS FLORIDA LLC
Investment Insights
Based on property information with market context.
This 1,860-square-foot property, built in 1954, is configured for shared housing and currently operates as a PadSplit. The furnished interior includes six bedrooms, three bathrooms, and a seventh room that can function as an additional bedroom or be converted to a traditional living room. Furnishings convey with the sale, along with a new dryer and replacement washing machine.
The property is located at 2629 14th Avenue S in St. Petersburg, approximately a two-minute walk from public transit. Downtown St. Petersburg, shopping, dining, major roadways, and the Gulf beaches are identified as nearby destinations. The existing layout supports continued shared-housing use, while the flexible seventh-room configuration provides an alternative residential arrangement.
The property is located at 2629 14th Avenue S in St. Petersburg, approximately a two-minute walk from public transit. Downtown St. Petersburg, shopping, dining, major roadways, and the Gulf beaches are identified as nearby destinations. The existing layout supports continued shared-housing use, while the flexible seventh-room configuration provides an alternative residential arrangement.
Key Highlights
- Currently configured and operating as a PadSplit shared‑housing property
- 1,860 SF property built in 1954
- Six bedrooms and three bathrooms, plus a flexible seventh room
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
$21,711
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
5.64%
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%
$434,220
$434.2K
Cap Rate 7%
$310,157
$310.2K
Cap Rate 9%
$241,233
$241.2K
Market Conditions
NOI Build-Up for 1,860 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
$33.3K $17.88/SF
− Vacancy
−$2.2K −$1.21/SF
EGI
$31.0K $16.67/SF
− OpEx
−$9.3K −$5.00/SF
NOI
$21.7K $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%
$434,220
Cap Rate 7%
$310,157
Cap Rate 9%
$241,233
Alternative Uses
Best Use
Multifamily LT 5
$310.2K
$271.4K – $361.9K
NOI $21,711 @ 7.0% cap · market cap 5.64%
Second Best
Apartment 5plus
$244.4K
$213.8K – $285.1K
NOI $17,107 @ 7.0% cap · market cap 4.44%
Theoretical Best
Office A
$483.8K
$423.3K – $564.4K
NOI $33,866 @ 7.0% cap · market cap 8.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
780
Businesses Nearby
Explore this area
Business Placement
Demographics for 33712, FL
26,395
Population
13,055
Households
2
Avg Household Size
41
Median Age
30%
College-Educated
91%
High-School Grad
6.4 sq mi
ZIP Area
4,124
Density / Sq Mi
$57,729
Median Household Income
$39,589
Median Earnings
$1,440
Median Rent
$300,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Furnished shared-housing property with a flexible room arrangement and nearby public transit access.
Where is this quadplex located?
The property is located at 2629 14TH AVENUE S St Petersburg, FL.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Currently configured and operating as a PadSplit shared‑housing property; 1,860 SF property built in 1954; Six bedrooms and three bathrooms, plus a flexible seventh room
