St. Petersburg Multifamily Property For
1503 9th St N St Petersburg, FL 33704
For Sale
Contact for pricing
Pending
Renovated multifamily property in desirable St. Petersburg location.
Property Size16,448 SF
Days on Market1269
Property Features for 1503 9th St N
General Information
- Standard status
- Pending
- Size
- 16,448 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1960
Listing Agency:
JT Multifamilty Team
(813) 541-2135
Listed By:
Joshua Teplitzky · License #SL3254354
Source:
Crexi
Added: Feb 1, 2023
Changed: Jul 10
Last Checked: Jul 22 at 3:36PM
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 JT Multifamilty Team
Investment Insights
Based on property information with market context.
This multifamily property is located in St. Petersburg and features a mix of studio, one-bedroom, and two-bedroom floor plans. The property was renovated in 2022, including new exterior building paint. Constructed of concrete block, the property is located in close proximity to downtown St. Petersburg and the retail and restaurants on 4th Street. It is less than ten minutes from the University of South Florida St. Petersburg campus. The property is suitable for long-term stays and monthly rentals with many apartment-style units. The property size is 16,448 square feet.
Key Highlights
- Premium location in the heart of desirable St. Petersburg.
- All rooms were renovated in 2022.
- Close proximity to downtown St. Petersburg and retail/restaurants on 4th Street.
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 | $296.1k | $18.00 |
| − Vacancy | −$21.0k | −$1.28 |
| EGI | $275.0k | $16.72 |
| − OpEx | −$123.8k | −$7.52 |
| NOI | $151.3k | $9.20 |
16,448 SF · lease $18.00/SF/yr · vacancy 7.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.16M
$1.89M – $2.52M
NOI $151,274 @ 7.0% cap · market cap 3.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.28M
$3.74M – $4.99M
NOI $299,478 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Empress Motel
Hotel & Motel
Uptown Inn & Suites, ...
Hotel & Motel
FAQs
What type of property is this?
Apartment building - Renovated multifamily property in desirable St. Petersburg location.
Where is this apartment building located?
The property is located at 1503 9th St N St Petersburg, FL.
What is the asking price?
The asking price for this property is $4,375,000.
What are key features of this property?
This property features: Premium location in the heart of desirable St. Petersburg.; All rooms were renovated in 2022.; Close proximity to downtown St. Petersburg and retail/restaurants on 4th Street.
