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6538 42nd Ave
For Sale $1,990,000 ($395.78 per Sq Ft)
$1,990,000 ($395.78 per Sq Ft)
- 8 Units
- 5,028 Sq Ft
- 16,544 Sq Ft
- Unknown Cap Rate
Description
Introducing a premier multifamily investment opportunity in St. Petersburg, Florida. This fully renovated eight-unit commercial property delivers immediate cash flow with a proven rental history. The asset consists of eight spacious two-bedroom, one-bathroom units situated across four separate buildings, complemented by a private on-site parking lot. The property is fully leased and has been comprehensively updated, making it a true turnkey addition to any investment portfolio.
All major capital improvements have already been completed, significantly reducing future maintenance exposure. Updates include new roofs on all buildings, updated windows, individual HVAC systems, added insulation for improved energy efficiency and pest prevention, and in-unit washers and dryers throughout. Exterior improvements enhance long-term value and tenant appeal, featuring upgraded landscaping, new fencing, fresh exterior paint, and a dedicated bike rack for residents.
Each unit has been thoughtfully renovated with consistency and quality in mind. Kitchens showcase shaker-style cabinetry, granite countertops, and stainless steel refrigerators and stoves. Bathrooms have been fully updated with modern tilework, vanities, fixtures, and hardware. Additional interior upgrades include new baseboards and crown molding across all units, reflecting a high standard of finish rarely found in comparable properties.
Located outside of a flood zone, this asset offers additional peace of mind for long-term ownership. Its central St. Petersburg location provides easy access to schools, shopping, dining, entertainment, public transportation, and major thoroughfares, further supporting strong tenant demand.
This is an exceptional opportunity for investors seeking a stabilized, professionally updated multifamily property with immediate income and minimal deferred maintenance in one of Tampa Bay’s most desirable rental markets.
Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $1,990,000 |
| Property Type | Flex Space |
| Usable Sqft | 5,028 |
| Number of Stories | 1 stories |
| Parking Spots | 0 spots |
| Year Built | 1958 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 053116294300010380 |
| MLS # | TB8457636 |
| Property ID | 321183171 |
| Lot Sqft | 16,544 |
| Zoning | RM-15 |
| Total Units | 8 |
| Days on Market | 59 |
| Original List Price | $1,990,000 |
| Applicances | Refrigerator% |
| Date Updated | December 22, 2025 |
| Date Created | December 18, 2025 |
Financials not available online. Please inquire with your agent for more details.
Listing Provided By
Bailey Bjugan an agent of . Lic #3552411
© 2026 STELLAR MLS. All rights reserved. Some listings on this website are from STELLAR as of December 22, 2025 The 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.
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Robert Crawford
REAL ESTATE AGENT