Active

1335 DR MARTIN LUTHER KING JR ST N

ST PETERSBURG FL, 33701

$1,335,000


$554.86 per sqft

Active

2,406 sqft

Multi-family

Built in 1910

This exceptional 6-unit mixed-use property in St. Petersburg's coveted downtown 33701 zip code offers a rare combination of resilience, location, and income potential. With a prime location steps from Crescent Lake Park, just 1 mile from Central Avenue, and walking distance to Tropicana Field, this property is perfectly positioned to capitalize on the city's vibrant growth. Elevated 40+ feet above sea level, it sustained no interior hurricane damage and is zoned CRT-1, allowing flexible residential and commercial use. The owner most recently has operated it as a mid term rental, allowing 1-2 months stays. The property features a separately metered, detached block 2-car garage, providing an opportunity to expand the usable footprint or generate additional income. A studio unit on the third floor that offers breathtaking views of the St. Pete skyline and can be easily converted into a true 1-bedroom, 1-bathroom unit for additional added value. A new roof was installed in 2021, and the building currently utilizes central heating, with the potential to be upgraded to an efficient heat pump system for central air conditioning. Additionally, a property manager living next door is willing to remain on board for smooth operational continuity. Financially, the property is a proven performer, grossing over $125,000 last year, with detailed financial records available upon request. This is a rare opportunity to own a versatile and income-generating property in a highly desirable downtown location.

TB8337653

MLS ID

January 11, 2025

Listed

January 11, 2025

Updated

Map

1335 DR MARTIN LUTHER KING JR ST N
ST PETERSBURG FL, 33701

Interior Features

Interior Features

Other


Laundry Description

Other


Fireplace

No


Cooling

Yes


Cooling Description

Central Air


Heating

Yes


Heating Description

Central

Exterior/Building Features

Lot Size

0.15 Acres


Exterior Features

Sidewalk


Roof

Shingle


Sewer

Public Sewer

Other Property Details

Area Name

33701 - St Pete


Taxes

$11,368


Tax Frequency

Annually


Association Fee Frequency

Monthly


Garage

Yes


Garage Spaces

2


View

Yes


View Description

City


County

Pinellas


Municipality

31


Water Source

Public


Pool

No

Listed by CARPENTER REALTY GROUP
Listing Contact: 813-362-4586 

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Data last updated 1/11/2025, 8:08 PM UTC

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