5th Ave Apartments
Closed6682 5th Ave N, St. Petersburg, FL 33710
Property type
Multifamily
Unit / Space count
9
Price
$820,000
Building size
3,836 sf
Rentable area
3,836 SF
Year built
1953
Year renovated
Occupancy
APN
19-31-16-18486-002-0020
Zoning code
Lot size
0.15 Acres
Unit mix
2x
1br
2x
2br
5x
-br
Bedroom count
Price per Unit
$91,111
Price per SF
$213.76
Property description
Franklin Street is pleased to offer this well-kept 9-unit multifamily property is located in the highly desirable Pasadena neighborhood of St. Petersburg, FL. The two-story, 1950s vintage building features a durable concrete block construction and offers a diverse mix of studio, 1-bedroom, and 2-bedroom units. Residents enjoy convenient amenities, including an on-site laundry facility and a communal courtyard. The property presents a strong value-add opportunity with the potential to recapture approximately 77% of utility expenses from tenants. It's prime location places it within 3 miles of St. Pete Beach—ranked the #1 beach in the U.S. by TripAdvisor in 2021. Strategically positioned near key education and employment hubs, the property is just 0.1 miles from St. Pete State College, 1.1 miles from Tyrone Square Mall, and within a short distance of major medical centers such as Palms of Pasadena Hospital (2.1 miles) and Johns Hopkins All Children’s Hospital (6.5 miles). Other notable nearby attractions include Tropicana Field (5.2 miles), Treasure Island Beaches (3.1 miles), and Downtown St. Petersburg (6.0 miles), making this an excellent investment opportunity in a high-demand rental market.
Property highlights
- Well-Maintained 9-Unit Multifamily Property in the Sought-After Pasadena Neighborhood of St. Petersburg, FL
- Diverse Unit Mix Featuring Studio, 1-Bedroom, and 2-Bedroom Units
- Two-Story 1950s Vintage Building with Concrete Block Construction
- On-Site Laundry Facility and Courtyard for Resident Convenience
- Significant Upside Potential by Recapturing Approximately 77% of Utility Expenses from Tenants
- Within 3 Miles of St. Pete Beach; Voted the #1 Beach in the U.S. (Trip Advisor, 2021)
- Excellent Location with Proximity to Nearby Education and Employment Drivers, Including St. Pete State College (0.1 Mi), Tyrone
- Square Mall (1.1 Mi), Palms of Pasadena Hospital (2.1 Mi), Johns Hopkins All Children’s Hospital (6.5 Mi), Tropicana Field (5.2 Mi), Treasure Island Beaches (3.1 Mi), and Downtown St. Petersburg (6.0 Mi)