Largo Multifamily Investment
518 6TH AVENUE SW, Largo, FL 33770
For Sale
$1,100,000
Turnkey multifamily property with five units in downtown Largo.
Property Size4,478 SF
Price / SF$245.65
Days on Market236
Property Features for 518 6TH AVENUE SW
General Information
Standard status
Size
Property subtype
Taxes and HOA fees
Annual Taxes
Amenities
Central Air, Wall/Window Unit(s)
Central, Ductless
Range, Refrigerator
Wood Burning
Storage
Building Details
Year Built
Listing Agency:
FUTURE HOME REALTY
Listed By:
James Endres
(727) 480-2938
Source:
Evrealestate
Added: Mar 17
Changed: Oct 31
Last Checked: Nov 6 at 9:34AM
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 FUTURE HOME REALTY
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 multifamily property features five units, totaling 11 beds and 6 baths, offering an immediate income opportunity. The property includes two units in the front building and three units in the rear building. The buildings are well-maintained, featuring newer roofs and recent paint. All units are currently rented with leases and security deposits in place. The property provides ample parking for tenants and convenient alley access. An income-generating coin laundry room is available for tenant use. Located in downtown Largo, the property is near Ulmer Park, Largo Central Park & Nature Preserve, shops, restaurants, and Liberty Yards. It is also a short drive from the beaches via the Belleair Bridge. The location has a bike score of 51, indicating it is bikeable, a walk score of 61, indicating it is somewhat walkable, and a transit score of 31, indicating some transit options are available. This property offers a cash flow opportunity for investors.
Key Highlights
- Turnkey multi‑family property with 5 units (11 beds, 6 baths) providing immediate income.
- All units are currently rented with leases and security deposits in place.
- Prime downtown Largo location, walkable to parks, shops, and restaurants.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,185
Cap Rate
3.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$823,700
$823.7K
Cap Rate 7%
$588,357
$588.4K
Cap Rate 9%
$457,611
$457.6K
Market Conditions
NOI Build-Up for 4,478 SF
Gross rent
$80.6K $18.00/SF
− Vacancy
−$5.7K −$1.28/SF
EGI
$74.9K $16.72/SF
− OpEx
−$33.7K −$7.52/SF
NOI
$41.2K $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%
$823,700
Cap Rate 7%
$588,357
Cap Rate 9%
$457,611
Alternative Uses
Best Use
Apartment 5plus
$588.4K
$514.8K – $686.4K
NOI $41,185 @ 7.0% cap · market cap 3.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.16M
$1.02M – $1.36M
NOI $81,533 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
1,722
Businesses Nearby
Explore this area
Business Placement
Demographics for 33770, FL
25,475
Population
13,417
Households
1.9
Avg Household Size
50
Median Age
26%
College-Educated
90%
High-School Grad
5.2 sq mi
ZIP Area
4,899
Density / Sq Mi
$58,071
Median Household Income
$39,354
Median Earnings
$1,481
Median Rent
$245,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Apartment buildings in Pinellas County, FL
Properties on Market for Apartment buildings in Pinellas County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Turnkey multifamily property with five units in downtown Largo.
Where is this apartment building located?
The property is located at 518 6TH AVENUE SW Largo, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Turnkey multi‑family property with 5 units (11 beds, 6 baths) providing immediate income.; All units are currently rented with leases and security deposits in place.; Prime downtown Largo location, walkable to parks, shops, and restaurants.
