Overview
- Updated On:
- October 13, 2026
- 3,234 ft2
Description
One of Downtown St. Petersburg’s rarest income opportunities — a historic 1925 six-unit wood-frame building nestled steps from the coveted Historic Old Northeast neighborhood in Flood Zone X. The two-story building offers 5 one-bedroom/one-bath units plus an efficiency, all individually metered for electric. A 2021 roof replacement is already complete. Current rents are significantly below appraiser-concluded market value, presenting immediate income upside through stabilization. Grandfathered six-unit density under NT-2 zoning protects a use that simply cannot be replicated with new construction in this submarket. Value-add investors will find a compelling rent-up story, strong tenant demand, and a premium location that commands quality tenants with minimal concessions. A true value-add opportunity in a market that rarely offers one.
Address: 255 6TH AVENUE N
City: ST PETERSBURG
Area: KINYONS H H ADD
State/County: Pinellas
Zip: 33701
Country: United States
Property Id: 100015816
Price: $1,200,000
Property Size: 3,234 ft2
Property Lot Size: 0 ft2
Building Area Total: 3345
Building Features: Bathrooms, Dumpsters, Fencing
Cap Rate: 5.5
Construction Materials: Wood Frame
Contract Status Change Date: 2026-06-23
Cooling: Wall/Window Unit(s)
Cumulative Days On Market: 112
Days On Market: 112
Directions: From Downtown St. Petersburg, head north on 1st Street N approximately 0.9 miles. Turn left onto 6th Avenue N. Property is on the left, adjacent to 247 6th Ave N. Sign on site.
Electric: 100 Amp Service
Flooring: Laminate
FoundationDetails: Pillar/Post/Pier
Heating: Wall Units / Window Unit
IDXParticipationYN: 1
InternetAddressDisplayYN: 1
InternetAutomatedValuationDisplayYN: 1
InternetEntireListingDisplayYN: 1
ListAOR: Suncoast Tampa
ListAgentAOR: Suncoast Tampa
ListAgentEmail: masisells@gmail.com
ListAgentFullName: Dave Masi
ListAgentKey: 25ffa40ddc7eb053beac26c890146a74
ListAgentMlsId: 260042086
ListAgentPreferredPhone: 727-215-5085
ListOfficeKey: c7a5943195c7135875c17156e9f10a7a
ListOfficeMlsId: 260063087
ListOfficeName: SUNSHINEAGLE LLC
ListOfficePhone: 941-416-4580
ListingContractDate: 2026-06-23
ListingId: TB8522549
ListingKeyNumeric: 794391070
ListingTerms: Cash
LivingAreaSource: Public Records
LivingAreaUnits: Square Feet
LotSizeArea: 3494
LotSizeDimensions: 55 x 64
LotSizeSquareFeet: 3494
LotSizeUnits: Square Feet
MLSAreaMajor: 33701 - St Pete
MlsStatus: Active
NumberOfBuildings: 1
NumberOfUnitsTotal: 6
OnMarketDate: 2026-06-23
OriginalListPrice: 1200000
OriginatingSystemKey: stellar
OriginatingSystemName: Stellar MLS
Ownership: Fee Simple
ParcelNumber: 183117468540020101
PhotosCount: 36
RoadFrontageType: City Street
RoadSurfaceType: Brick
Roof: Shingle
STELLAR_AlternateKeyFolioNum: 183117468540020101
STELLAR_AnnualExpenses: 42495
STELLAR_AnnualIncomeType: Projected
STELLAR_CalculatedListPriceByCalculatedSqFt: 358.74
STELLAR_CeilingHeight: 8 to 9 Feet
STELLAR_CensusBlock: 1
STELLAR_CensusTract: 020106
STELLAR_ConvertedResidenceYN: 1
STELLAR_CreateAutomaticVirtualTourYN: 1
STELLAR_CurrentPrice: 1200000
STELLAR_FloodZoneCode: x
STELLAR_ListOfficeContactPreferred: 941-416-4580
STELLAR_ListOfficeHeadOfficeKeyNumeric: 789648021
STELLAR_ListSource: MATRIX
STELLAR_ListSourceOriginal: MATRIX
STELLAR_MlsMajorChangeType: New Listing
STELLAR_OfficeIDXOfficeParticipationYN: 1
STELLAR_OfficeSyndicateTo: Apartments.com, International MLS, Realtor.com, Zillow Rental, SkySlope Offers, Crexi
Sewer: Public Sewer
SourceSystemKey: 794391070
SpecialListingConditions: None
StateOrProvince: FL
StoriesTotal: 2
StreetDirSuffix: N
StreetName: 6TH
StreetNumber: 255
StreetNumberNumeric: 255
StreetSuffix: AVENUE
TaxAnnualAmount: 12134.51
TaxBlock: B
TaxBookNumber: H1-47
TaxLegalDescription: KINYON'S, H.H. ADD BLK B, S 1/2 OF LOT 10
TaxLot: 10
TaxYear: 2025
Utilities: Public
WaterSource: Public
YearBuilt: 1925
Zoning: MULTI-FAM
Other Features
Dishwasher
Has Cooling System
Has Heating System
$6,152.64
per month
- Principal and Interest
- Property Tax
- HOA fee
- Private Mortgage Insurance
$ 4,652.64
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