2525 13th Ave N - New Construction Quadplex | North Kenwood 4 Unit Apartment Building Offered at $1,550,000 at a 7.56% Cap Rate Saint Petersburg, FL 33713

Rare opportunity to acquire a new construction quadplex located in the rapidly improving North Kenwood neighborhood of St. Petersburg. The property consists of (2) 4-bedroom / 2.5-bath units and (2) studio units over 2-car garages, delivering four income-producing units within a modern, low-density footprint.
The asset is designed and operated as a quadplex, while also offering future optionality to be configured as two fee-simple duplexes, each with a primary residence and a studio unit. This flexibility enhances exit strategies without compromising current cash flow.
Investment Highlights
• New construction, A-class asset
• Four income-producing units
• Priced below replacement cost and current appraised value
• Immediate equity at acquisition
• Eligible for 1031 exchange buyers
• Potential for cost segregation with bonus depreciation, subject to buyer’s tax strategy
• Low maintenance, reduced insurance costs, and minimal near-term capital expenditures
Operational Advantages
• Modern systems and efficient construction
• Lower ongoing maintenance and cap-ex requirements
• Strong tenant demand in an urban infill location
Investor Profile
• Long-term hold investors
• 1031 exchange buyers
• Portfolio expansion strategies
• Owner-occupant / house-hack buyers
• Investors seeking tax-advantaged real estate
Located in North Kenwood, a neighborhood experiencing continued revitalization and increased investment, the property benefits from proximity to major employment centers, downtown St. Petersburg, and ongoing public and private redevelopment efforts.
This offering represents a rare opportunity to acquire a high-quality, newly built quadplex with durable income, built-in flexibility, and pricing that is difficult to replicate in today’s construction environment.