3527 1st Avenue S, St Petersburg, FL 33711
sale
$1,200,000
|
Other
Courtesy Of Keller Williams Gulf Beaches
A block from 34th Street and Central Avenue, right in the middle of one of St. Petersburg's highest-traffic corridors, this 12-bedroom multifamily is already producing and has the numbers to show for it. The kind of foot traffic and visibility that 34th and Central bring helps explain why occupancy stays around 90% on a weekly rental model. Ten of the rooms have their own private full bath right inside the unit, and the remaining two share a bath just steps away.
Common areas round out the day-to-day. The shared kitchen has room to cook without getting in each other's way, a living room gives tenants a place to unwind outside their own four walls, and an on-site laundry room means nobody has to leave the building for the basics. It is a simple setup, and that simplicity is a big part of why people stay.
The income tells the rest of the story. Twelve rooms generating $250 to $300 per week through PadSplit, with $129,600 in annual gross revenue for 2025 and roughly 90% occupancy. Tenants stay anywhere from two months to two years. Three independent AC systems keep the building comfortable year-round, and an on-site parking lot handles daily traffic. At 3,641 square feet of living space inside a 4,377 gross square foot commercial shell, the building carries more capacity than the residential use alone would suggest.
Worth noting: this building started life as a medical clinic, and that original layout is still intact. The private rooms with en-suite baths, the separation between spaces, the commercial-grade shell, all of it was designed for clinical use first. The zoning, commercial structure with residential use, reflects that history. For a medical group, wellness practice, or healthcare provider looking for space in this part of St. Petersburg, the conversion work is largely already done.
Bayfront Health St. Petersburg, St. Anthony's Hospital, and Johns Hopkins All Children's Hospital are all a short drive away, putting this property in the middle of the medical and employment corridor that keeps demand steady in this part of Pinellas County. I-275 connects to Tampa in under 30 minutes, and the SunRunner rapid transit line runs straight to downtown St. Pete.
Common areas round out the day-to-day. The shared kitchen has room to cook without getting in each other's way, a living room gives tenants a place to unwind outside their own four walls, and an on-site laundry room means nobody has to leave the building for the basics. It is a simple setup, and that simplicity is a big part of why people stay.
The income tells the rest of the story. Twelve rooms generating $250 to $300 per week through PadSplit, with $129,600 in annual gross revenue for 2025 and roughly 90% occupancy. Tenants stay anywhere from two months to two years. Three independent AC systems keep the building comfortable year-round, and an on-site parking lot handles daily traffic. At 3,641 square feet of living space inside a 4,377 gross square foot commercial shell, the building carries more capacity than the residential use alone would suggest.
Worth noting: this building started life as a medical clinic, and that original layout is still intact. The private rooms with en-suite baths, the separation between spaces, the commercial-grade shell, all of it was designed for clinical use first. The zoning, commercial structure with residential use, reflects that history. For a medical group, wellness practice, or healthcare provider looking for space in this part of St. Petersburg, the conversion work is largely already done.
Bayfront Health St. Petersburg, St. Anthony's Hospital, and Johns Hopkins All Children's Hospital are all a short drive away, putting this property in the middle of the medical and employment corridor that keeps demand steady in this part of Pinellas County. I-275 connects to Tampa in under 30 minutes, and the SunRunner rapid transit line runs straight to downtown St. Pete.
Read More About This Property
Read Less About This Property
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Virtual Tour
Property Features
- Age: Over 50 Years Old
- Architecture Style: Other
- Building Units: 12
- Cooling System: Central Air
- Exterior Type: Brick
- Legal Description: WEST CENTRAL AVE SUB BLK B, LOTS 12 AND 13 LESS ST
- MLSID: TB8493152
- Roof Type: Built-Up
Data powered by Attom Data Solutions. Copyright© 2025. Information deemed reliable but not guaranteed.
You may also be interested in...
sale
$1,550,000
Business
2200 49th Street N
St Petersburg, FL 33710
Building: 1,472 sq. ft.
|
Land: 0.2 Acres
Courtesy Of Smith & Associates Real Estate
sale
$1,500,000
Office
4855 1st Avenue N
St Petersburg, FL 33713
Building: 4,191 sq. ft.
|
Land: 0.42 Acres
Courtesy Of Smith & Associates Real Estate
sale
$1,499,000
Other
1121 Beach Drive Ne
St Petersburg, FL 33701
Building: 3,078 sq. ft.
|
Land: 0.25 Acres
Courtesy Of Smith & Associates Real Estate
sale
$1,390,000
Other
N 17th St N
St Petersburg, FL 33713
Land: 0.46 Acres
Courtesy Of Charles Rutenberg Realty Fort Lauderdale