333 5th S St Saint Petersburg, FL 33701-4485

This exceptional 16-unit apartment building, known as Charles Court, presents a compelling turnkey investment opportunity in the heart of St. Petersburg, Florida. Located at 333 5th St S, this property boasts a prime location in the highly sought-after downtown core, just steps from All Children's Hospital (employing over 3,750 people) and less than a mile from St. Anthony's Hospital, ensuring consistent rental demand. The two-building complex, constructed in 1910 and extensively renovated in 2019, comprises 8,608 square feet across three stories, offering 16 fully renovated studio apartments. The property sits on a 0.16-acre lot and includes four parking spaces. Zoned CBD2, this asset benefits from the significant economic growth of Downtown St. Petersburg, including the substantial Tropicana Field redevelopment project. The South St. Pete submarket, where Charles Court is situated, exhibits the strongest rent growth in Pinellas County this decade. Current market rents offer significant upside potential, with opportunities to increase income further through additional revenue streams such as parking, laundry, storage, and utility reimbursements. This is a rare chance to acquire a well-maintained, historic property in a high-barrier-to-entry market, offering immediate cash flow and substantial long-term growth potential. The recent renovations minimize immediate capital expenditure needs, allowing for a swift return on investment. This turnkey asset is ready for a new owner to capitalize on its exceptional location and strong rental market.