2nd Street Apartments (St. Petersburg, FL)_Property for Sale

535 2nd Street North, St. Petersburg, FL, 33701, US

2nd Street Apartments (St. Petersburg, FL)

Description

Residents at 2nd Street Apartments enjoy access to charming outdoor seating areas scattered throughout the property, offering peaceful spots to relax or socialize outdoors. For everyday conveniences, the community provides an on-site laundry facility equipped with two shared washer/dryer units available to all residents on a first-come, first-served basis. These thoughtful amenities enhance the comfortable living experience at 2nd Street Apartments, creating both functional spaces and opportunities to enjoy the property’s outdoor environment.

CLASSIC MEETS CONTEMPORARY

Designed in the 1920’s, 2nd Street Apartments blends historic charm with the luxuries of modern living. Units boast classic features like the original hardwood floors (in select units), oversized windows, and outdoor sitting areas, providing residents an unmatched living experience.

Historic Old Northeast

The Historic Old Northeast stands as one of St. Petersburg’s most coveted residential areas, combining timeless charm with modern desirability for its 7,000+ residents who enjoy an exceptional quality of life reflected in the average household income exceeding $150,000 and average home values surpassing $940,000. What truly distinguishes this neighborhood is its perfect blend of historic character—featuring tree-canopied brick streets, charming bungalows, and Mediterranean Revival homes—with contemporary urban living benefits, all within close proximity to downtown St. Petersburg’s vibrant cultural scene, waterfront parks, and dining options.

...

Attributes

Number of units

Occupancy

95%

Year built

1920

Building area net

893 m²

Land area gross

0 m²

Media

Investment Highlights

SIGNIFICANT MARK-MARKET OPPORTUNITY

Based on market comparison data and competitive set analysis, 2nd Street Apartments represents an exceptional opportunity to increase rental rates, with comprehensive research supporting substantial potential rent growth exceeding $400 per unit. Current rents at the property are significantly below market value, positioning it for immediate revenue enhancement through strategic repositioning and targeted improvements.

Convenient Access to Employment

2nd Street Apartments offers an unrivaled location at the nexus of Tampa Bay’s most significant employment centers. Positioned strategically in St. Petersburg, residents enjoy immediate access to Downtown St. Petersburg with its

30,000 employees just a 1-minute drive away. The thriving Gateway Business District, home to 114,000 employees, is

a convenient 13-minute drive, while the Westshore Business District with its 102,000-strong workforce is accessible within 20 minutes. For those working in Downtown Tampa’s robust business hub of 77,000 employees, the commute is a manageable 25 minutes. This exceptional proximity to over 323,000 jobs across Tampa Bay’s major employment centers makes 2nd Street Apartments the perfect choice for professionals seeking convenience without compromising on lifestyle or commute times.