Six-Unit Waterfront Apartment
5050 74TH Street N St Petersburg, FL 33709
For Sale
$975,000
MULTI_FAMILY - ST PETERSBURG, FL
Property Size3,409 SF
Lot Size0.36 Acres
Price / SF$286.01
Days on Market685
Property Features for 5050 74TH Street N
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-4
Bedrooms
9
Bathrooms
6
Rooms
Bathroom 6, Bedroom 9, Bedroom 2, Bathroom 2, Bathroom 5, Bedroom 7, Bathroom 3, Bedroom 4, Bedroom 3, Bathroom 4, Bathroom 1, Bedroom 5, Bedroom 6, Bedroom 8, Bedroom 1
Interior features
Ceiling Fans(s)
Exterior features
Lighting, Sidewalk
Standard status
Active
APN
06-31-16-00000-220-1700
Size
3,409 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
PART OF NW 1/4 OF NW 1/4 OF SEC 6-31-16 DESC FROM SE COR OF NW 1/4 OF NW 1/4 OF SEC TH N00D47'45"E 160.08FT FOR POB TH N89D45'10"W 142.63FT TO E'LY R/W OF JOE'S CREEK TH CUR RT RAD 1198.57FT ARC 101.4FT CB N14D33'35"W 101.37FT TH S89D45'10"E 169.48FT TH S00D47'45"W 98FT TO POB
Tax Annual Amount
6836
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Water front
1
Building Details
Year built
1980
Number of units
6
Building materials
Stucco
Roof type
Shingle
Listing Agency:
LPT REALTY
(877) 366-2213
Listed By:
Steven Sallo · License #3550258
(727) 260-2142
Added: Sep 11, 2024
Changed: Jul 22
Last Checked: Jul 27 at 9:06PM
MLS# TB8303107
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.
Investment Insights
Based on property information with market context.
This six-unit apartment building offers fully occupied residential income with all tenants on month-to-month agreements. The property has undergone foundation repairs and was recently remodeled. Unit mix includes three two-bedroom, one-bath units, two studio units, and one one-bedroom, one-bath unit. Central air is in place, with air conditioning approximately four years old. Updates reported include upgraded plumbing and electrical completed about four years ago. The listing notes an opportunity to renovate additional units and the potential to add an on-site laundry setup where there is currently no laundry on-site.
A waterfront lot is included, with the property described as having 135 feet of water frontage. Zoning is listed as R-4.
The listing provides current rents totaling $8,950 per month, and it also summarizes recurring expenses including water/garbage pickup, taxes, and insurance.
A waterfront lot is included, with the property described as having 135 feet of water frontage. Zoning is listed as R-4.
The listing provides current rents totaling $8,950 per month, and it also summarizes recurring expenses including water/garbage pickup, taxes, and insurance.
Key Highlights
- 6‑unit investment property built in 1980, fully occupied with month‑to‑month tenant agreements
- Current rents total $8,950/month ($107,400/year) with unit mix of 3 two‑bed/1‑bath, 2 studio, and 1 one‑bed/1‑bath
- Upgraded plumbing and electrical completed 4 years ago; central air conditioning (AC) is 4 years old
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 | $61.4k | $18.00 |
| − Vacancy | −$4.4k | −$1.28 |
| EGI | $57.0k | $16.72 |
| − OpEx | −$25.7k | −$7.52 |
| NOI | $31.4k | $9.20 |
3,409 SF · lease $18.00/SF/yr · vacancy 7.10% · expense 45.00%
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
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Six-unit apartment building with waterfront lot included and central air; all units currently on month-to-month leases.
Where is this apartment building located?
The property is located at 5050 74TH Street N 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: 6‑unit investment property built in 1980, fully occupied with month‑to‑month tenant agreements; Current rents total $8,950/month ($107,400/year) with unit mix of 3 two‑bed/1‑bath, 2 studio, and 1 one‑bed/1‑bath; Upgraded plumbing and electrical completed 4 years ago; central air conditioning (AC) is 4 years old
