624 1st St N 7 Unit Apartment Building $1,050,000 ($150,000/Unit) Saint Petersburg, FL 33701

CBRE Multifamily is pleased to present 624 1st St N, a rare opportunity to acquire a stabilized 7-unit property with long-term ownership on 0.09 acres in the heart of Downtown St. Petersburg. Terrier‘s 6-unit sister property, 619 Kirkwood, is also available for acquisition, with the option to retain existing management for both properties. These properties may be purchased together as a portfolio or individually.
624 1st St N is located in the heart of Historic Old Northeast, which boasts a median home price of $1.21M. The property features recently renovated units and attractive income streams such as utility and internet reimbursement. A low-cost renovation strategy is recommended to unlock $250+ in rental upside.
The location offers multiple lifestyle amenities, including proximity to The Pier, St. Pete Beach—voted the #1 beach in the U.S. This is a rare chance to invest in Pinellas County’s highest-growth submarket. The area is also seeing a surge in boutique developments and retail expansions, including Castille Urbana and Volta Wine + Market, contributing to the vibrant urban fabric.
Downtown St. Petersburg’s 15% job growth over the last five years, combined with its emergence as a corporate relocation hub— highlighted by Footlocker’s headquarters movefurther solidifies its reputation as a thriving business and leisure destination.