Six-Unit Waterfront Apartment
For Sale
$975,000
5050 74TH ST N #1, St Petersburg, FL 33709
Fully occupied multifamily property with month-to-month tenancies and an additional waterfront lot.
Property Size3,409 SF
Days on Market756
Property Features for 5050 74TH ST N #1
General Information
Standard status
Active
Size
3,409 SF
Property subtype
Multi-Family 5+
Taxes and HOA fees
Annual Taxes
$6,836
Building Details
Building Size
3,409 SF
Year Built
1980
Listing Agency:
LPT REALTY
Listed By:
Steven Sallo · License #3550258
(727) 260-2142
Source:
Judibeck
Added: Sep 12, 2024
Changed: Sep 29
Last Checked: Oct 5 at 9:26PM
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 LPT REALTY
Investment Insights
Based on property information with market context.
Built in 1980, this six-unit apartment property includes three two-bedroom, one-bath units, two studios, and one one-bedroom, one-bath unit. The property is currently fully occupied, with all residents on month-to-month agreements. Units were recently remodeled, and completed improvements include foundation repairs, upgraded plumbing from 4 years ago, upgraded electrical from 4 years ago, and central air conditioning that is 4 years old.
The property includes an additional waterfront lot and 135 feet of water frontage. It is located in St. Petersburg, Florida, at 5050 74th St N #1. On-site laundry is not currently available, while the source information identifies space at the rear for a potential future laundry or ADU-type building.
The property includes an additional waterfront lot and 135 feet of water frontage. It is located in St. Petersburg, Florida, at 5050 74th St N #1. On-site laundry is not currently available, while the source information identifies space at the rear for a potential future laundry or ADU-type building.
Key Highlights
- Six‑unit apartment property with 3 two‑bedroom, one‑bath units, 2 studios, and 1 one‑bedroom, one‑bath unit
- Fully occupied with month‑to‑month tenant agreements
- 135Ft of water frontage plus an additional waterfront lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,353
Cap Rate
3.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$627,060
$627.1K
Cap Rate 7%
$447,900
$447.9K
Cap Rate 9%
$348,367
$348.4K
Market Conditions
NOI Build-Up for 3,409 SF
Gross rent
$61.4K $18.00/SF
− Vacancy
−$4.4K −$1.28/SF
EGI
$57.0K $16.72/SF
− OpEx
−$25.7K −$7.52/SF
NOI
$31.4K $9.20/SF
Area
Pinellas County, FL
Vacancy
7.10%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$627,060
Cap Rate 7%
$447,900
Cap Rate 9%
$348,367
Alternative Uses
Best Use
Apartment 5plus
$447.9K
$391.9K – $522.6K
NOI $31,353 @ 7.0% cap · market cap 3.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$886.7K
$775.9K – $1.03M
NOI $62,070 @ 7.0% cap · market cap 6.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
413
Businesses Nearby
Explore this area
Business Placement
Demographics for 33709, FL
27,026
Population
13,767
Households
2
Avg Household Size
50
Median Age
19%
College-Educated
86%
High-School Grad
5.1 sq mi
ZIP Area
5,299
Density / Sq Mi
$52,621
Median Household Income
$35,488
Median Earnings
$1,317
Median Rent
$190,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied multifamily property with month-to-month tenancies and an additional waterfront lot.
Where is this apartment building located?
The property is located at 5050 74TH ST N #1 St Petersburg, FL.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Six‑unit apartment property with 3 two‑bedroom, one‑bath units, 2 studios, and 1 one‑bedroom, one‑bath unit; Fully occupied with month‑to‑month tenant agreements; 135Ft of water frontage plus an additional waterfront lot
