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240 20th Ave 4 Unit Apartment Building $790,000 ($197,500/Unit) Saint Petersburg, FL 33705
Investment Highlights
- Turnkey asset with minimal anticipated capex
- Surrounded by new Multifamily development, providing future economic upside
- Ample on-site parking, alley access, and a manicured shared common area with easy access to install laundry
- Located 1 mile from USF St. Pete Campus, 2 miles from Downtown St. Pete and Tropicana Field Development, and an easy drive to the Gulf beaches
- Low-maintenance unit mix with tile and refurbished hardwood flooring throughout
- Property has been well maintained on interior with routine maintenance and turnover renovations, and on exterior with landscaping and routine upkeep
Executive Summary
240 20th Ave S the Old Southeast Quad represents a turnkey, income-producing asset in one of St. Petersburg’s most desirable and appreciating submarkets. The property benefits from long-term tenants paying market rents, immediately stabilizing cash flow for a new owner while minimizing lease-up risk. Its location places it within easy walking distance of Lassing Park’s waterfront green space and beach, just two miles from both Downtown St. Petersburg and Tropicana Field, and roughly a mile from USF St. Petersburg’s campus — positioning the asset to capture steady rental demand from students, young professionals, and downtown commuters alike. The surrounding area is also seeing significant near-term growth, with the adjacent Innovation District and four major nearby developments (including the 456-unit Coquina Key Plaza and 330-unit Lake Maggiore Apartments) pointing to continued economic momentum. For investors seeking a well- located, cash flowing multifamily asset with embedded upside from neighborhood appreciation, this Old Southeast Quad offers a compelling combination of current income and long-term growth potential.
Property Facts
| Price | $790,000 | Building Class | C |
| Price Per Unit | $197,500 | Lot Size | 0.15 AC |
| Sale Type | Investment | Building Size | 2,224 SF |
| No. Units | 4 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1939 |
| Apartment Style | Low-Rise | ||
| Zoning | NT-2 | ||
| Price | $790,000 |
| Price Per Unit | $197,500 |
| Sale Type | Investment |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 2,224 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1939 |
| Zoning | NT-2 |
Amenities
Unit Amenities
- Air Conditioning
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | 475 |
| Studios | 2 | - | 350 |
Moderately walkable
60/100
Moderately drivable
70/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 30-31-17-77184-009-0140 | Improvements Assessment | $218,100 |
| Land Assessment | $321,900 | Total Assessment | $540,000 |
Property Taxes
Parcel Number
30-31-17-77184-009-0140
Land Assessment
$321,900
Improvements Assessment
$218,100
Total Assessment
$540,000
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