548 3rd Street North

Highlights:

• Limited multifamily inventory in prestigious Old Northeast
• Zoned for potential redevelopment or value-add upgrades
• Rental in high demand for the area so close to downtown

Description:

Exceptional Investment Opportunity in Prime Old Northeast – 6-Unit Multifamily Property
Located just steps from vibrant downtown St. Petersburg in the coveted Old Northeast neighborhood, 548 3rd St N presents a rare chance to own a high-performing asset with significant income potential and future development upside. Set on an oversized .215-acre lot—nearly double the standard size—this well-maintained multifamily property offers six desirable units and multiple revenue streams, all within walking distance of St. Pete’s top attractions.

Property Overview
Six Total Units:
4 large 1-bedroom apartments
2 thoughtfully designed studios

Oversized Lot:
.215 acres (nearly a quarter-acre)
Zoned for potential redevelopment or value-add upgrades

Efficient Utilities:
Landlord covers water, sewer, and garbage
Tenants pay electric (one unit shares power with common area)

Additional Income Streams:
Coin-operated laundry with full-size washer & dryer
Rented storage room
Two garages plus four off-street parking spaces

No Flood Insurance Required
Located in an X flood zone

Location Highlights
Walkable Downtown Lifestyle:
Steps to dining, nightlife, shopping, and the thriving arts scene
Close to Waterfront Attractions:
Near the St. Pete Pier, museums, and outdoor events
Outdoor & Community Perks:

Minutes to North Shore Park & Community Center with tennis courts, green spaces, and beach access
Convenient Access to the 4th Street Corridor:
Cafes, groceries, fitness centers, and daily essentials just around the corner

Investor Appeal
Below-market rents offer strong value-add potential
High rental demand in a high-growth, low-vacancy area
Limited multifamily inventory in prestigious Old Northeast
Ideal for buy-and-hold investors or owner-occupants seeking passive income and appreciation

Don’t miss this rare opportunity to secure a prime multifamily asset in one of St. Petersburg’s most walkable and desirable neighborhoods. Contact us today to schedule your private tour!