$2,500,000
121 18th Avenue N Saint Petersburg, FL 33704
For Sale MLS# TB8495708
7 beds 7 baths 3,180 sq ft Multi-family
Details for 121 18th Avenue N
MLS# TB8495708
Description for 121 18th Avenue N, Saint Petersburg, FL, 33704
Melrose Place Apartments is a unique 7 unit multifamily property situated among luxury homes in Historic Old Northeast St Petersburg, Florida. Living here means tenants are minutes to the iconic “Beach Drive Scene”, St Pete’s de facto hub for an expansive variety of fine dining and entertainment, sophisticated nightlife, chic galleries, and superb people watching. Popular for its proximity to downtown, expansive waterfront parks, leafy redbrick avenues, and stately homes, exquisite Historic Old Northeast is considered by many St Pete’s most affluent and prestigious neighborhood. Nearby waterfront Vinoy Park on Tampa Bay offers acres of lush green space, a sports and aquatic complex, fitness trails, a dog park, and beach volleyball. The city’s multitude of attractions include the New Pete Pier, Watch Discovery Center and Museum of History, to name a few. Each of the Melrose Place one-bedroom one-bath apartments, averaging approximately 600 sq ft, recently underwent a full gut-rehab down to the studs. Tenants sign traditional 12-month leases. One apartment is partially furnished. Based on the Seller’s current income and taking into consideration the Buyer’s projected year-one expenses, which do reflect the Appraiser’s estimated Real Estate Tax increase, the $2,500,000 Offer Price represents approximately a 4% Cap Rate. All utilities, as well as Internet / WiFi connectivity, are paid by the Owner via master meters with full reimbursement per monthly charge to tenants. Subject to all other terms and conditions of a formal written offer the Owner will consider Seller Financing and providing ongoing Management Services. Acquisition of Melrose Place is ideally suited for discerning investors seeking to establish a foothold in prestigious Historic Old Northeast. Investors interested in acquiring a high-quality, turnkey, generational family asset to satisfy a pending 1031 Exchange, or expand and enhance a portfolio of high-quality real estate investments will want to tour and be compelled to acquire Melrose Place Apartments.
Listing Information
Property Type: Residential, Quadruplex
Status: Active
Bedrooms: 7
Bathrooms: 7
Lot Size: 0.14 Acres
Square Feet: 3,180 sq ft
Year Built: 1921
Construction: Block,Stucco,Wood Frame
Subdivision: Barnard Erastus A S Rev Sub
Foundation: Slab
Number Of Units Total: 7
County: Pinellas
Additonal Room Information
Laundry: Inside
Interior Features
Additional Interior Features: Other, Built-in Features
Utilities
Water: Public
Sewer: Public Sewer
Other Utilities: Cable Available,Electricity Connected,Municipal Utilities,Sewer Connected,Water Connected
Cooling: Central Air, Wall/Window Unit(s)
Heating: Central, Window Unit, Wall Furnace
Exterior / Lot Features
Roof: Shingle
Lot Dimensions: 50x125
Additional Exterior/Lot Features: Fence
Unit Information
Unit 1 Units Total: 1
Unit 1 Actual Rent: 1873
Unit 1 Baths Total: 1
Unit 1 Beds Total: 1
Unit 2 Units Total: 1
Unit 2 Actual Rent: 1873
Unit 2 Baths Total: 1
Unit 2 Beds Total: 1
Unit 3 Units Total: 1
Unit 3 Actual Rent: 1873
Unit 3 Baths Total: 1
Unit 3 Beds Total: 1
Unit 4 Units Total: 1
Unit 4 Actual Rent: 1873
Unit 4 Baths Total: 1
Unit 4 Beds Total: 1
Unit 5 Units Total: 1
Unit 5 Actual Rent: 1873
Unit 5 Baths Total: 1
Unit 5 Beds Total: 1
Unit 6 Units Total: 1
Unit 6 Actual Rent: 1873
Unit 6 Baths Total: 1
Unit 6 Beds Total: 1
Driving Directions
From its intersection with 4th St N, proceed east on 22nd Ave N to 2nd St N then turn right (south). Proceed to 18th Ave N and turn left (east). Proceed to the Property on the left (north) side of 18th Ave N.
Financial Considerations
Terms: Cash,Conventional,Owner May Carry
Tax/Property ID: 07-31-17-02754-016-0190
Tax Amount: 7438.47
Tax Year: 2025
A broker reciprocity listing courtesy: RE/MAX ACTION FIRST OF FLORIDA
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Payment Calculator
Interest rate and annual percentage rate (APR) are based on current market conditions, are for informational purposes only, are subject to change without notice and may be subject to pricing add-ons related to property type, loan amount, loan-to-value, credit score and other variables. Estimated closing costs used in the APR calculation are assumed to be paid by the borrower at closing. If the closing costs are financed, the loan, APR and payment amounts will be higher. If the down payment is less than 20%, mortgage insurance may be required and could increase the monthly payment and APR. Contact us for details. Additional loan programs may be available. Accuracy is not guaranteed, and all products may not be available in all borrower's geographical areas and are based on their individual situation. This is not a credit decision or a commitment to lend.
Sales History & Tax Summary for 121 18th Avenue N
Sales History
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Tax Summary
| Tax Year | Estimated Market Value | Total Tax |
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Data powered by ATTOM Data Solutions. Copyright© 2026. Information deemed reliable but not guaranteed.
Schools
Schools nearby 121 18th Avenue N
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Data powered by ATTOM Data Solutions. Copyright© 2026. Information deemed reliable but not guaranteed.
The schools shown represent both the assigned schools and schools by distance based on local school and district attendance boundaries. Attendance boundaries change based on various factors and proximity does not guarantee enrollment eligibility. Please consult your real estate agent and/or the school district to confirm the schools this property is zoned to attend. Information is deemed reliable but not guaranteed.
SchoolDigger ® Rating
The SchoolDigger rating system is a 1-5 scale with 5 as the highest rating. SchoolDigger ranks schools based on test scores supplied by each state's Department of Education. They calculate an average standard score by normalizing and averaging each school's test scores across all tests and grades.
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