Crescent Lake Apartment
For Sale
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945 Crescent Lake Drive, Saint Petersburg, FL 33701
Multi-unit property with updated appliances, month-to-month occupancy, and direct access to a public lakefront park.
Property Size3,750 SF
Lot Size0.15 Acres
Price / SF$333.33
Days on Market86
Property Features for 945 Crescent Lake Drive
General Information
Standard status
Active
Size
3,750 SF
Net Rentable
3,750 SF
Total Parking Spaces
6
Lot size
0.15 Acres
Property subtype
Multifamily
Zoning
NT-2
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$76,252
Financials
Asking Price
$1,250,000
Cap Rate
6.1%
Gross Income
$112,200
Units
Unit Mix
1 x studio, 4 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
6
Additional Details
Highway Access
Yes
Building Details
Year Built
1920
Buildings
2
Stories
2
Units
6
Tenancy
Multi
Listing Agency:
Matthews
Listed By:
Gabriel Pena · License #SL3492043
Source:
Crexi
Added: Jun 8
Changed: Aug 31
Last Checked: Aug 31 at 4:54AM
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 Matthews
Investment Insights
Based on property information with market context.
Crescent Lake Apartments comprises two two-story buildings with six units and approximately 3,750 rentable square feet on a ±0.15-acre lot. The unit mix includes one studio, four one-bedroom/one-bathroom apartments, and one two-bedroom/one-bathroom apartment. The buildings were constructed in 1920 and 1925, with a fully replaced roof completed in 2025 and updated unit appliances. Six asphalt-paved parking spaces are provided on site.
The property is 100% occupied under month-to-month leases and is positioned directly across from Crescent Lake Park, a 56-acre lake and public park. Park amenities include a 2.0-mile walking loop, lighted tennis courts, a dog park, and baseball fields. Downtown Saint Petersburg and the Central Avenue corridor are approximately 1 mile south, while Interstate 275 connects the area with Tampa, Clearwater, and the Gulf beaches. The property is zoned NT-2.
The property is 100% occupied under month-to-month leases and is positioned directly across from Crescent Lake Park, a 56-acre lake and public park. Park amenities include a 2.0-mile walking loop, lighted tennis courts, a dog park, and baseball fields. Downtown Saint Petersburg and the Central Avenue corridor are approximately 1 mile south, while Interstate 275 connects the area with Tampa, Clearwater, and the Gulf beaches. The property is zoned NT-2.
Key Highlights
- Six‑unit apartment property with one studio, four one‑bedroom/one‑bathroom units, and one two‑bedroom/one‑bathroom unit
- Approximately 3,750 rentable square feet on a ±0.15‑acre lot
- Two two‑story buildings constructed in 1920 and 1925
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,766
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 - Multi-unit property with updated appliances, month-to-month occupancy, and direct access to a public lakefront park.
Where is this apartment building located?
The property is located at 945 Crescent Lake Drive Saint Petersburg, FL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Six‑unit apartment property with one studio, four one‑bedroom/one‑bathroom units, and one two‑bedroom/one‑bathroom unit; Approximately 3,750 rentable square feet on a ±0.15‑acre lot; Two two‑story buildings constructed in 1920 and 1925
