Updated Triplex with
New
For Sale
$917,400
5111 1ST S, St Petersburg, FL 33707
Residents have access to on-site laundry, individual storage rooms, and assigned carport parking.
Property Size2,793 SF
Price / SF$328.46
Days on Market2
Property Features for 5111 1ST S
General Information
Standard status
Active
Size
2,793 SF
Total Parking Spaces
3
Property subtype
Investment
Occupancy
100%
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2/2, 2/1, 1/1
Multifamily Units
3
Individually Metered Utilities
electricity
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$7,917
Amenities
on-site laundry room
storage rooms
Building Details
Building Size
2,793 SF
Year Built
1971
Year Renovated
2023
Buildings
1
Units
3
Construction
block
Tenancy
Multi
Listed By:
Denise Baschuk · License #3007974
(727) 776-5430
Source:
Elliman
Added: Oct 23
Last Checked: Oct 23 at 3:20PM
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 Denise Baschuk
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This block-construction triplex contains 2,793 SF of heated space and 4,344 SF under roof, with a 2/2, 2/1, and 1/1 unit mix. The property is fully rented, and each apartment has a separate electric meter. Shared improvements include an on-site laundry room, assigned carport parking for each unit, and individual storage rooms.
Renovation work includes new LVP flooring, kitchen appliances, refreshed kitchen cabinets, bathroom tile and fixtures, interior paint, and exterior paint completed in 2023. Hurricane windows and front doors were installed across the units in 2022/23. Other 2023 work included gutters with leaf guards, epoxy coating on exterior walkways, carport and stairs, and a new washer and dryer. Hot water heaters were replaced in 2020.
The property is off Central Avenue and close to a bus line. Landscaped grounds, walkways, and parking serve the three-unit complex.
Renovation work includes new LVP flooring, kitchen appliances, refreshed kitchen cabinets, bathroom tile and fixtures, interior paint, and exterior paint completed in 2023. Hurricane windows and front doors were installed across the units in 2022/23. Other 2023 work included gutters with leaf guards, epoxy coating on exterior walkways, carport and stairs, and a new washer and dryer. Hot water heaters were replaced in 2020.
The property is off Central Avenue and close to a bus line. Landscaped grounds, walkways, and parking serve the three-unit complex.
Key Highlights
- 2,793 SF heated area; 4,344 SF under roof
- Three units: 2/2, 2/1, and 1/1
- Separate electric meter, storage room, and assigned carport space for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,601
Cap Rate
3.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$652,020
$652.0K
Cap Rate 7%
$465,729
$465.7K
Cap Rate 9%
$362,233
$362.2K
Market Conditions
NOI Build-Up for 2,793 SF
Gross rent
$49.9K $17.88/SF
− Vacancy
−$3.4K −$1.21/SF
EGI
$46.6K $16.67/SF
− OpEx
−$14.0K −$5.00/SF
NOI
$32.6K $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%
$652,020
Cap Rate 7%
$465,729
Cap Rate 9%
$362,233
Alternative Uses
Best Use
Multifamily LT 5
$465.7K
$407.5K – $543.4K
NOI $32,601 @ 7.0% cap · market cap 3.55%
Second Best
Apartment 5plus
$367.0K
$321.1K – $428.1K
NOI $25,688 @ 7.0% cap · market cap 2.80%
Theoretical Best
Office A
$726.5K
$635.7K – $847.6K
NOI $50,854 @ 7.0% cap · market cap 5.54%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
610
Businesses Nearby
Explore this area
Business Placement
Demographics for 33707, FL
24,646
Population
16,579
Households
1.5
Avg Household Size
58
Median Age
40%
College-Educated
95%
High-School Grad
5.3 sq mi
ZIP Area
4,650
Density / Sq Mi
$68,560
Median Household Income
$45,513
Median Earnings
$1,512
Median Rent
$344,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Residents have access to on-site laundry, individual storage rooms, and assigned carport parking.
Where is this triplex located?
The property is located at 5111 1ST S St Petersburg, FL.
What is the asking price?
The asking price for this property is $917,400.
What are key features of this property?
This property features: 2,793 SF heated area; 4,344 SF under roof; Three units: 2/2, 2/1, and 1/1; Separate electric meter, storage room, and assigned carport space for each unit
