701 - 703 38TH AVE N, ST PETERSBURG, FL, 33704
$649,000
Residential Income
|
Bedrooms
4
|
Bathrooms
3
|
Living Area
1,728 Sqft
|
Lot Size
6,943 Sqft
|
Turn-Key Income Property with Legal Apartment
This extensively renovated corner-lot property offers a legal two-unit configuration consisting of a 3-bedroom / 2-bath main residence and a fully permitted 1-bedroom apartment, each designed for independent use. Separate electric meters support clear expense allocation and operational efficiency.
The property has undergone comprehensive capital improvements, including two new HVAC systems, all-new electrical wiring with two new electrical panels, two new water heaters, updated kitchens and baths, new flooring, fresh interior and exterior finishes, professional landscaping, hurricane-rated impact windows in the main house, and a roof replaced approximately six years ago. Major systems have been addressed, minimizing near-term maintenance and capital expenditure exposure.
The permitted apartment supports long-term rental use and income stability, while the main residence offers strong rental demand based on size, layout, and condition. Alley access enhances parking, privacy, and unit separation—features that improve tenant usability and asset performance. The property has experienced no flood damage, no storm damage, and no deferred maintenance.
Priced at $649,000, the asset is positioned to support market-based rental income, flexible occupancy strategies, and long-term hold performance in the Allendale Terrace area of St. Petersburg, where permitted multi-unit properties with this level of renovation are limited.
Property Details
| Property Features | Property Features | |||
|---|---|---|---|---|
| MLS ID: | MFRTB8388648 | Year Built: | 1925 | |
| Construction Materials: | Block, Stucco, Frame | Cooling: | Central Air, Mini-Split Unit(s), Other | |
| Country: | US | County Or Parish: | Pinellas | |
| Exterior Features: | Fence, Sidewalk | Fireplace Features: | Electric, Living Room, Ventless | |
| Flooring: | Luxury Vinyl | Foundation Details: | Concrete Perimeter, Slab | |
| Heating: | Central, Other | Laundry Features: | Inside | |
| Levels: | One | Listing Agreement: | Exclusive Agency | |
| Listing Terms: | Cash, Conventional, FHA, VA Loan | Parking Features: | Assigned, Driveway, Off Street, On Street, Parking Pad | |
| Property Sub Type: | Duplex | Property Type: | Residential Income | |
| Road Surface Type: | Asphalt | Roof: | Shingle | |
| Sewer: | Public Sewer | Showing Requirements: | Appointment Only, Call Listing Agent | |
| Special Listing Conditions: | None | Standard Status: | Active | |
| State Or Province: | FL | Utilities: | BB/HS Internet Available, Cable Available, Electricity Connected, Public, Sewer Connected, Water Connected | |
| Water Source: | Public | Window Features: | Blinds | |
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