St. Petersburg Multifamily Investment
For Sale
$515,000
5901 28TH N, Saint Petersburg, FL 33714
Multifamily property with 3 fully rented units in St. Petersburg.
Property Size2,135 SF
Days on Market166
Property Features for 5901 28TH N
General Information
Standard status
Active
Size
2,135 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$9,930
Building Details
Building Size
2,135 SF
Year Built
1956
Units
3
Listed By:
Yosmary Acosta Alonso
(813) 453-6773
Source:
Elliman
Added: Apr 24
Changed: Oct 1
Last Checked: Oct 5 at 6:54PM
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 Yosmary Acosta Alonso
Investment Insights
Based on property information with market context.
This multifamily property, located in St. Petersburg, Florida, presents an investment opportunity. The property consists of 3 units that are currently fully rented, providing a steady income stream. The location offers a bike score of 38, indicating it is somewhat bikeable, a walk score of 11, indicating car-dependent surroundings, and a transit score of 25, suggesting some transit options are available.
Key Highlights
- Steady income potential from 3 fully rented units.
- Excellent investment opportunity.
- Located in the heart of St. Petersburg.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,921
Cap Rate
4.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$498,420
$498.4K
Cap Rate 7%
$356,014
$356.0K
Cap Rate 9%
$276,900
$276.9K
Market Conditions
NOI Build-Up for 2,135 SF
Gross rent
$38.2K $17.88/SF
− Vacancy
−$2.6K −$1.21/SF
EGI
$35.6K $16.67/SF
− OpEx
−$10.7K −$5.00/SF
NOI
$24.9K $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%
$498,420
Cap Rate 7%
$356,014
Cap Rate 9%
$276,900
Alternative Uses
Best Use
Multifamily LT 5
$356.0K
$311.5K – $415.4K
NOI $24,921 @ 7.0% cap · market cap 4.84%
Second Best
Apartment 5plus
$280.5K
$245.5K – $327.3K
NOI $19,636 @ 7.0% cap · market cap 3.81%
Theoretical Best
Office A
$555.3K
$485.9K – $647.9K
NOI $38,873 @ 7.0% cap · market cap 7.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
837
Businesses Nearby
Explore this area
Business Placement
Demographics for 33714, FL
19,905
Population
9,889
Households
2
Avg Household Size
44
Median Age
20%
College-Educated
86%
High-School Grad
3.7 sq mi
ZIP Area
5,380
Density / Sq Mi
$47,221
Median Household Income
$36,207
Median Earnings
$1,270
Median Rent
$177,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Multifamily property with 3 fully rented units in St. Petersburg.
Where is this triplex located?
The property is located at 5901 28TH N Saint Petersburg, FL.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: Steady income potential from 3 fully rented units.; Excellent investment opportunity.; Located in the heart of St. Petersburg.
