1233 OAK STREET NE at

1233 OAK STREET NE

For sale Days on market 21

$1,499,990

$304/sq ft

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Overview

Bedroom

Year Built

1925

Garage

Sqft

4938

Property Type

Multi Family (5+)

Property Description

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 Details

MLS#

TB8473243

Garage

Address

1233 OAK

City

St Petersburg

State/county

Zip/Postal Code

33701

Area

Bayview Add

Country

United States

HOA

Assoc Fee

$--

Assoc Fee Pd

Tax Amount

$17,418

Maint Fee

$--

Tax Year

2025

Dryer

Gas Water Heater

Range

Refrigerator

Tankless Water Heater

Washer

City

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