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
Amenities
Feature Descriptions
Listed By / Shown By
Listed By
Agency Name: RE/MAX PREFERRED
Agency Contact: 727-367-3636
Shown By
Agent Name: Jennifer Waters
Agent Phone: (904) 864-2616
Agency Title: Watson Realty Corp., REALTORS ®
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Estimated Payment
$ 9,122.18 per month $7,233.18 Principal & Interest $1,451.50 Property Tax $437.50 Homeowner's InsuranceChange Payment Information
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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 jwaters.watsonrealtycorp.com today.