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    Ground Floor Condo with Updates Title is generated by Realmo AI

    5745 40TH N AVENUE 152B, Kenneth City, FL 33709

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    For Sale
    $120,000

    Updated 2-bedroom condo in Kenneth City, near St. Petersburg.

    Type:Condo/Townhome
    Property size:
    875 SF
    Price / SF:
    $137/SF
    Added:
    Jan 24, 2025
    Days on Market:
    520
    Last Refresh:
    May 19 at 8:50 pm

    Property Features for 5745 40TH N AVENUE 152B

    General Information

    Standard status
    Active
    Size
    875 SF
    Property subtype
    Condo/Townhome

    Building Details

    Year Built
    1962

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    Milena Lukic
    Milena Lukic

    Listing office LUXURY & BEACH REALTY INC

    Listing date Jan 24, 2025

    Source Exitrealty

    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 LUXURY & BEACH REALTY INC

    HighLights

    • Ground floor unit with spacious Florida room.
    • Washer/dryer in unit.
    • Located in X‑500 flood zone, so no flood insurance required by the association.
    • Fridge replaced in December 2024.
    • Option to purchase fully furnished with newer furniture and TV.
    • Close proximity to clubhouse with library, pool table, and piano; also near shuffleboard court.

    Overview

    This ground floor 2-bedroom condominium features a spacious Florida room and an in-unit washer and dryer. The kitchen includes replaced cabinets and countertops, along with a refrigerator replaced in December 2024. The shower area also features replaced tiles. Two window AC units provide both cooling and heating, one in the front and one in the Florida room. The property can be sold fully furnished, including a newer reclining sofa and two reclining chairs, and a newer 55-inch TV. Alternatively, it can be sold unfurnished. Located in Kenneth City, in the northwest part of St. Petersburg, the complex is approximately 7 miles from both Madeira Beach and St. Pete Beach. The building is situated about 5 blocks northeast of the association's shuffleboard court and a clubhouse that includes a library, a pool table, and a piano. The association does not require flood insurance for this building as it is presently in the X-500 ZONE. No rentals are allowed. The property size is 875 square feet.

    Local 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 $15.8k $18.00
    − Vacancy −$1.1k −$1.28
    EGI $14.6k $16.72
    − OpEx −$6.6k −$7.52
    NOI $8.0k $9.20
    875 SF · lease $18.00/SF/yr · vacancy 7.10% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $115.0K
    $100.6K – $134.1K (±1% cap)
    NOI $8,047 @ 7.0% cap · market cap 6.71%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $227.6K
    $199.2K – $265.5K (±1% cap)
    NOI $15,932 @ 7.0% cap · market cap 13.28%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential income properties

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Kenneth City
    County
    Pinellas
    State
    Florida
    Longitude
    -82.7116102
    Latitude
    27.8084887

    FAQs

    What type of property is this?
    Residential income property - Updated 2-bedroom condo in Kenneth City, near St. Petersburg.
    Where is this residential income property located?
    The property is located at 5745 40TH N AVENUE 152B Kenneth City, FL.
    What is the asking price?
    The asking price for this property is $120,000.
    What are key features of this property?
    This property features: Ground floor unit with spacious Florida room.; Washer/dryer in unit.; Located in X‑500 flood zone, so no flood insurance required by the association.
    More about this property
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