Triplex with Separate
3890 51ST AVE N, St Petersburg, FL 33714
For Sale
$349,000
Pending
Three distinct residences have individual entryways, with off-street parking available for each unit.
Property Size1,599 SF
Days on Market8
Property Features for 3890 51ST AVE N
General Information
Standard status
Size
Property subtype
Occupancy
Units
Unit Mix
Multifamily Units
Additional Details
Gross Income
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
A/C
washer/dryer hookups
fenced backyard
landscaped front yard
individual front entrances
covered porch
spacious back yards
shaded back deck
Building Details
Building Size
Year Built
Tenancy
Listing Agency:
BOWERS REALTY AND PROPERTY
Listed By:
Doug Reed · License FL #3315834
(352) 239-1161
Source:
Judibeck
Added: Nov 4
Changed: Nov 9
Last Checked: Nov 10 at 7:32PM
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 BOWERS REALTY AND PROPERTY
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Investment Insights
Based on property information with market context.
Set on three lots in Lealman Heights, this 1,599-square-foot triplex in St. Petersburg dates to 1947 and contains three separate residences. The main house has two bedrooms, one bathroom, a living room, kitchen, dining nook and den. A studio offers an open living area, kitchen space and private bath; the one-bedroom apartment has a combined kitchen and living area, separate bedroom and private bath. All units are leased. The main house has air conditioning throughout, washer and dryer hookups on a covered rear porch, and a fenced backyard. A roof was installed in 2019, and the property was tented in 2020.
The property includes a single-car garage, off-street parking for all units, individual front entrances, and yard space. The studio has a shaded rear deck overlooking the yard.
The property includes a single-car garage, off-street parking for all units, individual front entrances, and yard space. The studio has a shaded rear deck overlooking the yard.
Key Highlights
- Three separate residences: a two‑bedroom, one‑bath house, studio apartment and one‑bedroom apartment
- 1,599 square feet on three lots in Lealman Heights, St. Petersburg
- All units are currently leased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,664
Cap Rate
5.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$373,280
$373.3K
Cap Rate 7%
$266,629
$266.6K
Cap Rate 9%
$207,378
$207.4K
Market Conditions
NOI Build-Up for 1,599 SF
Gross rent
$28.6K $17.88/SF
− Vacancy
−$1.9K −$1.21/SF
EGI
$26.7K $16.67/SF
− OpEx
−$8.0K −$5.00/SF
NOI
$18.7K $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 Rate 5%
$373,280
Cap Rate 7%
$266,629
Cap Rate 9%
$207,378
Alternative Uses
Best Use
Multifamily LT 5
$266.6K
$233.3K – $311.1K
NOI $18,664 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$247.9K
$216.9K – $289.2K
NOI $17,353 @ 7.0% cap · market cap 4.97%
Theoretical Best
Office A
$415.9K
$363.9K – $485.2K
NOI $29,114 @ 7.0% cap · market cap 8.34%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
699
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 Triplexes in St Petersburg, FL
Properties on Market for Triplexes in St Petersburg
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three distinct residences have individual entryways, with off-street parking available for each unit.
Where is this triplex located?
The property is located at 3890 51ST AVE N St Petersburg, FL.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Three separate residences: a two‑bedroom, one‑bath house, studio apartment and one‑bedroom apartment; 1,599 square feet on three lots in Lealman Heights, St. Petersburg; All units are currently leased
