BEDS8
BATHS
SQUARE FEET4,938
MLS#TB8473243
STATUSPending
PROPERTY TYPEMulti Unit - Multiple
SUBDIVISIONBAYVIEW
Property Description
Under contract-accepting backup offers. RARE FIND - TIMELESS MEDITERRANEAN MULTIFAMILY INCOME PROPERTY IN OLD NORTHEAST. The iconic 'Melrose is a boutique 8-unit residence located in the highly sought after historic 'Old Northeast. This neighborhood is recognized as one of St Petersburg's top spots to live, work, and play. Nestled in this famous enclave, which boasts red-brick roads, mature oak shade trees, and splendid homes, the Melrose is a landmark property of the area. Mediterranean architecture with global appeal, this grand building enjoys terrific visibility and brilliant curb appeal. The Melrose boasts classic Mediterranean features; thick stucco exterior walls, barrel tile ornate accents, terra cotta entry steps; and contributing to the character of the neighborhood you will find hexagonal paver sidewalk at front of building. This 2-story multifamily building includes 8 one-bedroom one-bath apartments with living room and eat in kitchens. Gracious interior common lobby, vintage hardwood flooring, newer separately metered electricity, onsite coin laundry in the detached garage building. New roof installed 2025! Efficient tankless gas hot water heater! Coin laundry provides additional revenue. Fully occupied, annual leases, long term tenants, and high-demand, rarely are there any vacancies in this building. HIGH AND DRY LOCATION, NO FLOOD INSURANCE REQUIRED. This stately property is 3 BLOCKS to popular Beach Drive NE and the vibrant urban core of downtown St Petersburg where you will find state of the art galleries, North shore Aquatic Complex, waterfront parks, the new iconic Pier, boutiques, a wide variety of restaurants, bars and live entertainment plus music and art festivals. This property is an ideal procurement for the savvy investor striving to complete a 1031 Exchange, expand a portfolio, or acquire a solid investment property in an established market.
Property Features
Property Type: Multi Unit - Multiple
Cooling: Wall/Window Unit(s)
Garage: 1
Heating: Ductless
Lot Size: 0.10 Acres
Roof Type: Built-Up
Taxes: $17,418
Year Built: 1925
Amenities
Ceiling Fans(s)
Eat-in Kitchen
Lighting
Sidewalk
Storage
Feature Descriptions
Annual Net Income: 101657.00
Appliances: Dryer, Gas Water Heater, Range, Refrigerator, Tankless Water Heater, Washer
Days on Site: 115
Directions: North on Beach Drive NE - west on 9th Ave NE - north on Oak St NE - destination will be on the right
Exterior: Stucco, Frame
Flood Zone Code: X
Flooring: Linoleum, Wood
Foundation: Crawlspace
Garage Dimensions: 20x20
Home Warranty Y/N: No
Lease Terms: Twelve Months
Listing Terms: Cash, Conventional
Lot: City Limits, Sidewalk
Lot Dimensions: 0.1
Other Equipment: Irrigation Equipment
Other Structures: Storage
Ownership: Fee Simple
Parking: Off Street, On Street
Parking Notes: Off Street, On Street
Property Attached Y/N: No
Property Sub-Type: Multi-Family 5+
Sewer: Public Sewer
Showing Instructions: ShowingTime
Special Sale Provisions: None
Units: 8
Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Public, Sewer Connected, Water Connected
Water: Public
Water Access Y/N: No
Listed By / Shown By
Listed By
Agency Name: RE/MAX PREFERRED
Agency Contact: 727-367-3636
Shown By
Agency Title: RealtyMark
Agency Phone: 888-260-0400
Estimate Your Payment
Estimated Payment
$ 5,227.32 per month $3,338.33 Principal & Interest $1,451.50 Property Tax $437.50 Homeowner's InsuranceChange Payment Information
1233 Oak Street Ne | MLS# TB8473243
This multi-family property located at 1233 Oak Street Ne, Saint Petersburg, FL 33701 is currently listed for sale with an asking price of $1,499,990. Search Saint Petersburg real estate on www.realtymark.net today.