Fourplex on Corner
New
For Sale
$809,900
4601 DR MARTIN LUTHER KING JR Street N, St Petersburg, FL 33703
Residential Income, ST PETERSBURG, FL
Property Size2,770 SF
Lot Size0.27 Acres
Price / SF$292.38
Days on Market3
Property Features for 4601 DR MARTIN LUTHER KING JR Street N
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
6
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 6, Bathroom 1, Bathroom 4, Bedroom 5, Bathroom 3, Bedroom 4, Bedroom 3, Bathroom 5, Bathroom 2, Bedroom 1, Bedroom 2
Pets allowed
Yes, Dogs OK, Cats OK
Interior features
Ceiling Fans(s), Primary Bedroom Main Floor
Exterior features
Private Yard
Appliances
Dryer, Electric Water Heater, Microwave, Range, Washer
Subdivision
ARCADIA SUB
Lot features
Corner Lot
Directions
From I-275, take Exit 26 for 54th Ave N and head east. Turn right onto Dr. Martin Luther King Jr St N (9th St N). Continue south toward 46th Ave N. Property is located at 4601 Dr. Martin Luther King Jr St N, near the intersection of 46th Ave N.
Standard status
Active
APN
06-31-17-01368-007-0050
Size
2,770 SF
Lot size
0.27 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2025
Tax Description
ARCADIA SUB BLK G, LOTS 5 AND 6
Tax Annual Amount
9034
Legal Description
ARCADIA SUB BLK G, LOTS 5 AND 6
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating), Ductless (Heating)
Cooling system
Window Unit(s), Central Air, Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1915
Floors in Building
2
Flooring type
Vinyl
Building materials
Concrete, Vinyl Siding, Frame
Roof type
Shingle
Buildings
2
Listing Agency:
DALTON WADE INC
(888) 668-8283
Listed By:
Carmen Pravia
(908) 397-0040
Added: Oct 21
Changed: Oct 23
Last Checked: Oct 23 at 11:06PM
MLS# TB8560486
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This fourplex comprises four residences in two detached buildings on a 0.27-acre corner parcel. The unit mix includes three one-bedroom, one-bathroom apartments and one three-bedroom, two-bathroom residence. An oversized two-car garage offers nearly 600 square feet of additional space. The front building has a 2018 roof; the rear building’s roof dates to 2024. Two units are rented, one is owner-occupied, and one is vacant.
The property is in St. Petersburg, alongside Allendale Terrace and a short drive from downtown, restaurants, shopping, and entertainment. Zoned NTM-1, the site is described as having theoretical capacity for nearly eight residential units, subject to city approval and development requirements. The existing four-unit configuration can also be maintained.
The property is in St. Petersburg, alongside Allendale Terrace and a short drive from downtown, restaurants, shopping, and entertainment. Zoned NTM-1, the site is described as having theoretical capacity for nearly eight residential units, subject to city approval and development requirements. The existing four-unit configuration can also be maintained.
Key Highlights
- Four residences across two detached buildings
- Unit mix: three 1‑bedroom/1‑bathroom units and one 3‑bedroom/2‑bathroom unit
- 0.27‑acre corner lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,333
Cap Rate
3.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$646,660
$646.7K
Cap Rate 7%
$461,900
$461.9K
Cap Rate 9%
$359,256
$359.3K
Market Conditions
NOI Build-Up for 2,770 SF
Gross rent
$49.5K $17.88/SF
− Vacancy
−$3.3K −$1.21/SF
EGI
$46.2K $16.67/SF
− OpEx
−$13.9K −$5.00/SF
NOI
$32.3K $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%
$646,660
Cap Rate 7%
$461,900
Cap Rate 9%
$359,256
Alternative Uses
Best Use
Multifamily LT 5
$461.9K
$404.2K – $538.9K
NOI $32,333 @ 7.0% cap · market cap 3.99%
Second Best
Apartment 5plus
$363.9K
$318.5K – $424.6K
NOI $25,476 @ 7.0% cap · market cap 3.15%
Theoretical Best
Office A
$720.5K
$630.4K – $840.6K
NOI $50,435 @ 7.0% cap · market cap 6.23%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
4
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
933
Businesses Nearby
Explore this area
Business Placement
Demographics for 33703, FL
23,948
Population
12,331
Households
1.9
Avg Household Size
45
Median Age
53%
College-Educated
96%
High-School Grad
5.0 sq mi
ZIP Area
4,790
Density / Sq Mi
$96,795
Median Household Income
$56,760
Median Earnings
$1,569
Median Rent
$395,200
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 - Two detached structures provide four residences, including a three-bedroom, two-bathroom unit and three one-bedroom apartments.
Where is this quadplex located?
The property is located at 4601 DR MARTIN LUTHER KING JR Street N St Petersburg, FL.
What is the asking price?
The asking price for this property is $809,900.
What are key features of this property?
This property features: Four residences across two detached buildings; Unit mix: three 1‑bedroom/1‑bathroom units and one 3‑bedroom/2‑bathroom unit; 0.27‑acre corner lot
