Four-Unit Quadplex with C-3
For Sale
$1,350,000
37 144th Avenue, Madeira Beach, FL 33708
Four residences offer a range of unit sizes, with shared laundry and individual storage for each unit.
Property Size3,738 SF
Price / SF$399.41
Days on Market14
Property Features for 37 144th Avenue
General Information
Standard status
Active
Size
3,738 SF
Property subtype
Residential Income
Zoning
C-3
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/1BA, 1 x 1BR/1BA, 1 x Studio/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$8,562
Amenities
onsite laundry
dedicated storage space
Laminate,Tile
true
5
false
6
Laundry Room
Public Records
Other
FloodZone,City Lot,Near Public Transit
Public
4650
50.0 x 93.0
0.11
Assigned,Off Street
Paved,Asphalt
Balcony,Fenced,Private Mailbox,Storage
Slab
Street Paved
3738
1
Public Maintained Road
4
Building Details
Building Size
3,738 SF
Year Built
1952
Listing Agency:
RE/MAX REALTY UNLIMITED
(407) 904-9656
Listed By:
Jennifer De Vivo
Source:
Lotusdoorhomes
Added: Oct 21
Changed: Oct 31
Last Checked: Nov 3 at 8:21AM
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 RE/MAX REALTY UNLIMITED
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Investment Insights
Based on property information with market context.
This four-unit property in Madeira Beach includes a 3-bedroom/2-bathroom residence, a 2-bedroom/1-bathroom unit, a 1-bedroom/1-bathroom unit, and a studio with one bathroom. On-site laundry serves the property, and each residence has dedicated storage. The building dates to 1952 and has undergone post-storm restoration, with permits, inspections, and city sign-offs completed.
Zoned C-3, the property is in a district where multifamily housing, vacation rentals, temporary lodging, and nightly rentals are identified as permitted uses. Public beach access is across Gulf Boulevard; John’s Pass Village and Boardwalk is approximately 1.5 miles away, and downtown St. Petersburg is approximately 11 miles away.
Zoned C-3, the property is in a district where multifamily housing, vacation rentals, temporary lodging, and nightly rentals are identified as permitted uses. Public beach access is across Gulf Boulevard; John’s Pass Village and Boardwalk is approximately 1.5 miles away, and downtown St. Petersburg is approximately 11 miles away.
Key Highlights
- Four units with a 3BR/2BA, 2BR/1BA, 1BR/1BA, and studio/1BA mix
- C‑3 zoning; multifamily residential, vacation rental, temporary lodging, and nightly rental uses are identified as permitted
- Post‑storm restoration completed with city permits, inspections, and sign‑offs
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,453
Cap Rate
2.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$789,060
$789.1K
Cap Rate 7%
$563,614
$563.6K
Cap Rate 9%
$438,367
$438.4K
Market Conditions
NOI Build-Up for 3,380 SF
Gross rent
$60.4K $17.88/SF
− Vacancy
−$4.1K −$1.21/SF
EGI
$56.4K $16.67/SF
− OpEx
−$16.9K −$5.00/SF
NOI
$39.5K $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%
$789,060
Cap Rate 7%
$563,614
Cap Rate 9%
$438,367
Alternative Uses
Best Use
Multifamily LT 5
$563.6K
$493.2K – $657.6K
NOI $39,453 @ 7.0% cap · market cap 2.92%
Second Best
Apartment 5plus
$444.1K
$388.6K – $518.1K
NOI $31,086 @ 7.0% cap · market cap 2.30%
Theoretical Best
Office A
$879.2K
$769.3K – $1.03M
NOI $61,542 @ 7.0% cap · market cap 4.56%
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
660
Businesses Nearby
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Business Placement
Demographics for 33708, FL
16,034
Population
13,211
Households
1.2
Avg Household Size
60
Median Age
44%
College-Educated
96%
High-School Grad
3.4 sq mi
ZIP Area
4,716
Density / Sq Mi
$83,773
Median Household Income
$49,403
Median Earnings
$1,961
Median Rent
$463,700
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?
Quadplex - Four residences offer a range of unit sizes, with shared laundry and individual storage for each unit.
Where is this quadplex located?
The property is located at 37 144th Avenue Madeira Beach, FL.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Four units with a 3BR/2BA, 2BR/1BA, 1BR/1BA, and studio/1BA mix; C‑3 zoning; multifamily residential, vacation rental, temporary lodging, and nightly rental uses are identified as permitted; Post‑storm restoration completed with city permits, inspections, and sign‑offs
