Triplex with Three Separate
3890 51ST N, Saint Petersburg, FL 33714
For Sale
New
$349,000
Pending
Three residential units occupy three lots and include a garage, off-street parking, and outdoor yard space.
Property Size1,599 SF
Days on Market6
Property Features for 3890 51ST N
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Gross Income
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
BOWERS REALTY AND PROPERTY
Listed By:
Doug Reed · License FL #3315834
(352) 239-1161
Source:
Elliman
Added: Nov 6
Changed: Nov 8
Last Checked: Nov 10 at 9:41AM
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.
Built in 1947, this triplex contains a two-bedroom, one-bath main house, a studio apartment, and a one-bedroom apartment. Each unit has its own entrance. The main house offers a living room, kitchen, dining nook, den, air conditioning, and washer and dryer hookups on a covered rear porch. The studio has an open plan, kitchen area, private bath, and shaded deck; the one-bedroom unit combines its kitchen and living area, with a separate bedroom and private bath.
The property spans three lots with front and back yard areas. Parking includes a single-car garage and off-street spaces for the units. All three residences are currently leased. The roof was replaced in 2019.
The property spans three lots with front and back yard areas. Parking includes a single-car garage and off-street spaces for the units. All three residences are currently leased. The roof was replaced in 2019.
Key Highlights
- Three residential units: a two‑bedroom, one‑bath house, studio, and one‑bedroom apartment
- Property comprises three lots with front and back yard areas
- Separate entrance for each unit
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.
How Realmo checks its estimates
Property Analytics
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
739
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
$177,500
Median Home Value
Market
Average Price Trend$/SF for Triplexes in Pinellas County, FL
Properties on Market for Triplexes in Pinellas County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three residential units occupy three lots and include a garage, off-street parking, and outdoor yard space.
Where is this triplex located?
The property is located at 3890 51ST N Saint 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 residential units: a two‑bedroom, one‑bath house, studio, and one‑bedroom apartment; Property comprises three lots with front and back yard areas; Separate entrance for each unit
