Six-Unit Apartment Building with
For Sale
$1,000,000
633 7TH AVENUE N, St Petersburg, FL 33701
Two-building residential property with varied unit layouts, garage storage, front porches, and on-site parking near downtown.
Property Size4,762 SF
Price / SF$209
Days on Market57
Property Features for 633 7TH AVENUE N
General Information
Standard status
Active
Size
4,762 SF
Property subtype
Multi-Family 5+
Building Details
Year Built
1925
Listing Agency:
REAL BROKER, LLC
(855) 450-0442
Listed By:
D.J. Bryant · License #3415242
Source:
Dennisrealty
Added: Jul 4
Changed: Aug 29
Last Checked: Aug 8 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 REAL BROKER, LLC
Investment Insights
Based on property information with market context.
This apartment property includes six units arranged across two buildings. The front structure is a quadplex with three one-bedroom, one-bath apartments and a two-bedroom, one-bath dorm-style unit, including a first-floor apartment with a private yard and another with separate side access. A detached rear building contains two studio apartments above four large garage bays, which can support storage or separate rental use. Both buildings feature large front porches, and the property provides parking for two cars in front of the garage bays in addition to on-street parking.
Built in 1925, the property received some updates in 2026. Professional property management is in place and willing to continue. The property is located at 633 7TH Ave N in St. Petersburg, less than two blocks from Downtown St. Pete. Downtown Tampa and the Gulf Beaches are each under 30 minutes away. Walk Score and Bike Score are both 66, while Transit Score is 47.
Built in 1925, the property received some updates in 2026. Professional property management is in place and willing to continue. The property is located at 633 7TH Ave N in St. Petersburg, less than two blocks from Downtown St. Pete. Downtown Tampa and the Gulf Beaches are each under 30 minutes away. Walk Score and Bike Score are both 66, while Transit Score is 47.
Key Highlights
- Six total apartments across a quadplex and detached building
- Four large garage bays beneath two studio apartments
- Unit mix includes one- and two‑bedroom apartments plus studios
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$55,584
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.56%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,111,680
$1.1M
Cap Rate 7%
$794,057
$794.1K
Cap Rate 9%
$617,600
$617.6K
Market Conditions
NOI Build-Up for 4,762 SF
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.
Gross rent
$85.1K $17.88/SF
− Vacancy
−$5.7K −$1.21/SF
EGI
$79.4K $16.67/SF
− OpEx
−$23.8K −$5.00/SF
NOI
$55.6K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,111,680
Cap Rate 7%
$794,057
Cap Rate 9%
$617,600
Alternative Uses
Best Use
Multifamily LT 5
$794.1K
$694.8K – $926.4K
NOI $55,584 @ 7.0% cap · market cap 5.56%
Second Best
Apartment 5plus
$625.7K
$547.5K – $730.0K
NOI $43,797 @ 7.0% cap · market cap 4.38%
Theoretical Best
Office A
$1.24M
$1.08M – $1.45M
NOI $86,704 @ 7.0% cap · market cap 8.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,221
Businesses Nearby
Explore this area
Business Placement
Demographics for 33701, FL
19,137
Population
13,434
Households
1.4
Avg Household Size
48
Median Age
55%
College-Educated
96%
High-School Grad
2.7 sq mi
ZIP Area
7,088
Density / Sq Mi
$69,098
Median Household Income
$48,072
Median Earnings
$1,531
Median Rent
$590,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Two-building residential property with varied unit layouts, garage storage, front porches, and on-site parking near downtown.
Where is this apartment building located?
The property is located at 633 7TH AVENUE N St Petersburg, FL.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Six total apartments across a quadplex and detached building; Four large garage bays beneath two studio apartments; Unit mix includes one- and two‑bedroom apartments plus studios
