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… Read More 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. Read Less
Courtesy of RE/MAX PREFERRED 727-367-3636
Listing Snapshot
Days Online
1
Last Updated
Property Type
Multi-Family 5+
Beds
8
Square Ft.
4,938
Lot Size
0.1 Acres
Year Built
1925
MLS Number
TB8473243
Additional Details
Property Access
Road Surface: Asphalt
Appliances & Equipment
Dryer, Gas Water Heater, Range, Refrigerator, Tankless Water Heater, Washer, Other equipment: Irrigation Equipment
Building
Built in 1925, Living area: 4938, Living area units: Square Feet, Construction Materials: Stucco, Frame
Cooling
Wall/Window Unit(s)
Exterior Features
Lighting, Sidewalk, Storage
Floors
Linoleum, Wood
Foundation
Crawlspace
Garage
1 space
Heating
Ductless
Interior Features
Ceiling Fans(s), Eat-in Kitchen
Laundry
Common Area, Laundry Room
Lot
0.1 acres, Dimensions: 68x60, City Limits, Sidewalk
Parking
Off Street, On Street
Property
Other structures: Storage, City
Roof
Built-Up
Sewer
Public Sewer
Taxes
Additional parcels description:, Parcel Number: 18-31-17-05274-001-0060, Public Survey Range: 17, Public Survey Section: 18, Annual Amount: $17,418, Tax Block: 1, Tax Book Number: H6-11, Legal Description: BAYVIEW ADD BLK 1, S 68.5FT OF LOT 6, Lot: 6, Year: 2025
Tenant Pays
Electricity
Utilities
Cable Connected, Electricity Connected, Natural Gas Connected, Public, Sewer Connected, Water Connected, Water Source: Public, 9 separate electric meters
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