548 3rd St N St. Petersburg, FL 33701

This prime 6-unit multifamily property in St. Petersburg’s highly sought-after Old Northeast
the neighborhood offers an exceptional opportunity for investors and owner-operators alike.
Located at 548 3rd St N, a couple of blocks from downtown, this property provides a rare chance
to either maximize rental income with current below-market rents or explore future
redevelopment potential as this property is twice the size of a regular lot, .215 acres to be
exact, just shy of a quarter acre!
The property consists of four spacious one-bedroom units and two well-designed studio
apartments. The property is located in a non-flood zone, meaning no costly flood insurance is
required. The landlord covers the water, sewer, and garbage. All tenants pay their electric
bills, one tenant has electricity included in their rent as they share the power with the common
electric for the property lights, etc. Additional revenue streams include a coin-operated laundry
facility with a full-size washer and dryer. Parking is plentiful, with two garages and four
dedicated off-street parking spots. There is also an additional storage area that could be
leased.
This investment is ideally located in Old Northeast, one of St. Pete’s most desirable and historic
neighborhoods. Tenants will appreciate being within walking distance of the vibrant downtown
district, where they can enjoy a variety of restaurants, entertainment, and nightlife. The scenic
St. Pete Pier is nearby, offering waterfront dining, museums, and events. North Shore Park and
The Community Center provides access to tennis courts, green spaces, and beachside recreation,
while the 4th Street Corridor is home to an array of shops, cafes, and conveniences.
With strong rental demand and limited multifamily inventory in the area, this property presents
a tremendous opportunity for immediate cash flow and long-term appreciation. Don’t miss the
chance to own a valuable investment in one of St. Petersburg’s most dynamic and walkable
locations. Schedule a private tour today and explore the possibilities this multifamily gem has to
offer.