31-Unit Concrete Block Apartment
4400 1st Street North St Petersburg, FL 33702
4400 1st Street North, St Petersburg, FL, 33702
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For Sale
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Fully stabilized 31-unit apartment building with central AC, elevator, laundry rooms, and 46 off-street parking spaces.
Property Size32,434 SF
Price / SF$238.95
Days on Market51
Property Features for 4400 1st Street North
General Information
- Standard status
- Active
- Size
- 32,434 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1975
Listing agency
Coldwell Banker
Listed by
Jim Blackmon · License #SL496607
Source
Crexi
Added: Jun 2 Updated: Jul 21 at 2:33PM Checked: Jul 21 at 2:33PM
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 Coldwell Banker
Investment Insights
Based on property information with market context.
Tulane Apartments is a fully stabilized, four-story, concrete block apartment building constructed in 1975. The property includes a central elevator with a new cab installed within the last 10 years, three laundry rooms, two large house storage units, and a security camera system. Interior, air-conditioned hallways are complemented by wireless intercom-controlled entry and trash chutes on each floor. Each unit is separately metered for electric, with a poured concrete foundation, concrete block partition walls between units, suspended concrete floors, and metal joists and studs.
The unit mix consists of 16 two-bedroom, two-bath homes with private, covered balconies, 12 one-bedroom, one-bath units, and 3 studio units. All units have been renovated within the last few years and feature upgraded appliances, including dishwashers and garbage disposals, along with central AC. Many units also include solid wood slow-close cabinetry and updated Kohler plumbing fixtures installed within the last 10 years.
The building provides 46 total off-street parking spaces. The property did not flood during the storms of 2024. Construction-related durability features include a poured concrete foundation, metal framing components, and separately partitioned unit layouts.
The unit mix consists of 16 two-bedroom, two-bath homes with private, covered balconies, 12 one-bedroom, one-bath units, and 3 studio units. All units have been renovated within the last few years and feature upgraded appliances, including dishwashers and garbage disposals, along with central AC. Many units also include solid wood slow-close cabinetry and updated Kohler plumbing fixtures installed within the last 10 years.
The building provides 46 total off-street parking spaces. The property did not flood during the storms of 2024. Construction-related durability features include a poured concrete foundation, metal framing components, and separately partitioned unit layouts.
Key Highlights
- Fully stabilized 31‑unit concrete block apartment building built in 1975 (Tulane Apartments).
- Unit amenities include central AC, upgraded appliances, and each unit has a garbage disposal and dishwasher.
- Security and building features include wireless intercom entry, security camera system, trash chutes on each floor, and interior air‑conditioned hallways.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $583.8k | $18.00 |
| − Vacancy | −$41.5k | −$1.28 |
| EGI | $542.4k | $16.72 |
| − OpEx | −$244.1k | −$7.52 |
| NOI | $298.3k | $9.20 |
32,434 SF · lease $18.00/SF/yr · vacancy 7.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$4.26M
$3.73M – $4.97M
NOI $298,299 @ 7.0% cap · market cap 3.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.44M
$7.38M – $9.84M
NOI $590,544 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Tulane Condominiums
Condominium Complex
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Fully stabilized 31-unit apartment building with central AC, elevator, laundry rooms, and 46 off-street parking spaces.
Where is this apartment building located?
The property is located at 4400 1st Street North St Petersburg, FL.
What is the asking price?
The asking price for this property is $7,750,000.
What are key features of this property?
This property features: Fully stabilized 31‑unit concrete block apartment building built in 1975 (Tulane Apartments).; Unit amenities include central AC, upgraded appliances, and each unit has a garbage disposal and dishwasher.; Security and building features include wireless intercom entry, security camera system, trash chutes on each floor, and interior air‑conditioned hallways.
