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