Largo Multifamily Investment
For Sale
$1,100,000
518 6TH AVENUE SW, Largo, FL 33770
Turnkey multifamily property with five units in downtown Largo.
Property Size4,478 SF
Price / SF$245.65
Days on Market214
Property Features for 518 6TH AVENUE SW
General Information
Standard status
Active
Size
4,478 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$9,426
Amenities
Central Air, Wall/Window Unit(s)
Central, Ductless
Range, Refrigerator
Wood Burning
Storage
Building Details
Year Built
1920
Listed By:
James Endres
(727) 480-2938
Source:
Evrealestate
Added: Mar 17
Changed: Oct 15
Last Checked: Oct 14 at 10:12PM
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 James Endres
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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.
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Property Analytics
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Current Use
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
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Market
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.
