Stabilized Multifamily Property in St.
For Sale
$439,000
2753 53rd Ave N, St Petersburg, FL 33714
Three-unit apartment complex in a rapidly growing area.
Property Size1,255 SF
Price / SF$349.80
Days on Market177
Property Features for 2753 53rd Ave N
General Information
Standard status
Active
Size
1,255 SF
Property subtype
Multi-Family
Building Details
Year Built
1950
Listing Agency:
MPGFL TAMPA LLC
Listed By:
Frank Brito · License #3542409
(631) 356-5697
Source:
Fulcrum-residential
Added: Apr 24
Changed: Oct 4
Last Checked: Oct 16 at 12:36PM
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.
The property at 2753 53rd Ave N is a stabilized three-unit multifamily apartment complex located in the rapidly growing Saint Petersburg area. It offers proximity to Pinellas Park, St. Petersburg Beaches, and Downtown St. Petersburg. The property has undergone over $60,000 in capital expenditures, including a new roof, exterior paint, and landscaping. Interior renovations feature new luxury vinyl flooring, shaker cabinets, quartz countertops, and stainless steel appliances. The unit mix includes two one-bedroom, one-bathroom units and one studio with one bathroom. The current rent roll is $4,690. The property is bikeable with a score of 65, somewhat walkable with a score of 56, and has some transit options with a score of 35.
Key Highlights
- Stabilized 3‑unit multi‑family apartment complex in a rapidly growing area.
- Significant room for growth potential.
- Central location with proximity to Pinellas Park, St. Petersburg Beaches, and Downtown St. Petersburg.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,649
Cap Rate
3.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$292,980
$293.0K
Cap Rate 7%
$209,271
$209.3K
Cap Rate 9%
$162,767
$162.8K
Market Conditions
NOI Build-Up for 1,255 SF
Gross rent
$22.4K $17.88/SF
− Vacancy
−$1.5K −$1.21/SF
EGI
$20.9K $16.67/SF
− OpEx
−$6.3K −$5.00/SF
NOI
$14.6K $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%
$292,980
Cap Rate 7%
$209,271
Cap Rate 9%
$162,767
Alternative Uses
Best Use
Multifamily LT 5
$209.3K
$183.1K – $244.2K
NOI $14,649 @ 7.0% cap · market cap 3.34%
Second Best
Apartment 5plus
$164.9K
$144.3K – $192.4K
NOI $11,542 @ 7.0% cap · market cap 2.63%
Theoretical Best
Office A
$326.4K
$285.6K – $380.8K
NOI $22,850 @ 7.0% cap · market cap 5.21%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
971
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit apartment complex in a rapidly growing area.
Where is this triplex located?
The property is located at 2753 53rd Ave N St Petersburg, FL.
What is the asking price?
The asking price for this property is $439,000.
What are key features of this property?
This property features: Stabilized 3‑unit multi‑family apartment complex in a rapidly growing area.; Significant room for growth potential.; Central location with proximity to Pinellas Park, St. Petersburg Beaches, and Downtown St. Petersburg.
