1233 OAK STREET NE, St Petersburg, FL 33701

• 8 beds |
• 8 baths |
• 4,938 sqft

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.

Listing Status:

Active

Date Added:

February 6, 2026

Data Last Updated:

February 17, 2026 at 12:21PM

Listing Office:

RE/MAX PREFERRED : 727-367-3636

Listing Agent:

Carol Giovannoni : 727-481-9909

MLS ID:

TB8473243

Interior

• General: Ceiling Fans(s)Eat-in Kitchen
• Appliances: DryerGas Water HeaterRangeRefrigeratorTankless Water HeaterWasher
• Laundry: Common AreaLaundry Room
• Flooring: LinoleumWood
• A/C: Wall/Window Unit(s)
• Heating: Ductless

Exterior

• General: LightingSidewalkStorage
• Other Structures: Storage
• Parking: Off StreetOn Street

Construction

• Roofing: Built-Up
• General: StuccoFrameCrawlspace

Location

• Road/Access: Asphalt
• Originating MLS: Stellar MLS
• County: Pinellas

Lot

• Zoning: BAYVIEW ADD BLK 1S 68.5FT OF LOT 618-31-17-05274-001-0060
• View: City

Utilities

• Utilities: Cable ConnectedElectricity ConnectedNatural Gas ConnectedPublicSewer ConnectedWater Connected
• Water: Public
• Sewer: Public Sewer

Financial

• Source: Stellar MLS
• Ownership: Fee Simple