5-Unit Apartment Building with
518 6TH SW, Largo, FL 33770
For Sale
$1,100,000
Five-unit property with leased residences, tenant parking, alley access, and an on-site coin-operated laundry room.
Property Size4,478 SF
Days on Market49
Property Features for 518 6TH SW
General Information
Standard status
Size
Property subtype
Occupancy
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
coin laundry room
Building Details
Building Size
Year Built
Buildings
Units
Listing Agency:
FUTURE HOME REALTY
Listed By:
James Endres
(727) 480-2938
Source:
Elliman
Added: Sep 20
Changed: Oct 25
Last Checked: Nov 6 at 10:16AM
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
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Investment Insights
Based on property information with market context.
Built in 1920, this apartment property includes five units arranged between two front residences and a separate rear building with three additional units. The configuration provides 11 beds and 6 baths, with all units currently leased. Recent property improvements include newer roofs and exterior painting. A coin-operated laundry room provides an additional on-site amenity, while tenant parking and alley access support daily convenience.
The property is located in downtown Largo at 518 6TH SW, Largo, FL 33770. Ulmer Park, Largo Central Park & Nature Preserve, local shops, restaurants, and Liberty Yards are within the surrounding area. The site has a Walk Score of 34, Bike Score of 51, and Transit Score of 32.
The property is located in downtown Largo at 518 6TH SW, Largo, FL 33770. Ulmer Park, Largo Central Park & Nature Preserve, local shops, restaurants, and Liberty Yards are within the surrounding area. The site has a Walk Score of 34, Bike Score of 51, and Transit Score of 32.
Key Highlights
- Five apartment units with 11 beds and 6 baths
- Two front units and three units in a separate rear building
- All units leased with leases and security deposits in place
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
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
825
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
$245,200
Median Home Value
Market
Average Price Trend$/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 - Five-unit property with leased residences, tenant parking, alley access, and an on-site coin-operated laundry room.
Where is this apartment building located?
The property is located at 518 6TH 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: Five apartment units with 11 beds and 6 baths; Two front units and three units in a separate rear building; All units leased with leases and security deposits in place
