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
Days on Market186
Property Features for 2753 53RD AVE N
General Information
Standard status
Active
Size
1,255 SF
Property subtype
Triplex
Taxes and HOA fees
Annual Taxes
$6,589
Building Details
Building Size
1,255 SF
Year Built
1950
Listing Agency:
MPGFL TAMPA LLC
(631) 356-5697
Listed By:
Frank Brito · License #3542409
Source:
Judibeck
Added: Feb 27
Changed: Aug 23
Last Checked: Aug 30 at 10:28PM
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
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 = 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
$14,649
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
3.34%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
971
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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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.
