3527 1ST AVENUE S, St Petersburg, FL 33711

• 3,641 sqft

Property Description

A block from 34th Street and Central Avenue, right in the middle of one of St. Petersburg's highest-traffic corridors, this 12-bedroom multifamily is already producing and has the numbers to show for it. The kind of foot traffic and visibility that 34th and Central bring helps explain why occupancy stays around 90% on a weekly rental model. Ten of the rooms have their own private full bath right inside the unit, and the remaining two share a bath just steps away. Common areas round out the day-to-day. The shared kitchen has room to cook without getting in each other's way, a living room gives tenants a place to unwind outside their own four walls, and an on-site laundry room means nobody has to leave the building for the basics. It is a simple setup, and that simplicity is a big part of why people stay. The income tells the rest of the story. Twelve rooms generating $250 to $300 per week through PadSplit, with $129,600 in annual gross revenue for 2025 and roughly 90% occupancy. Tenants stay anywhere from two months to two years. Three independent AC systems keep the building comfortable year-round, and an on-site parking lot handles daily traffic. At 3,641 square feet of living space inside a 4,377 gross square foot commercial shell, the building carries more capacity than the residential use alone would suggest. Worth noting: this building started life as a medical clinic, and that original layout is still intact. The private rooms with en-suite baths, the separation between spaces, the commercial-grade shell, all of it was designed for clinical use first. The zoning, commercial structure with residential use, reflects that history. For a medical group, wellness practice, or healthcare provider looking for space in this part of St. Petersburg, the conversion work is largely already done. Bayfront Health St. Petersburg, St. Anthony's Hospital, and Johns Hopkins All Children's Hospital are all a short drive away, putting this property in the middle of the medical and employment corridor that keeps demand steady in this part of Pinellas County. I-275 connects to Tampa in under 30 minutes, and the SunRunner rapid transit line runs straight to downtown St. Pete.

Listing Status:

Active

Date Added:

April 1, 2026

Data Last Updated:

April 3, 2026 at 7:21AM

Listing Office:

KELLER WILLIAMS GULF BEACHES : 727-367-3756

Listing Agent:

Troy Walseth : 727-331-5500

MLS ID:

TB8493152

Interior

• A/C: Central Air

Construction

• Roofing: Built-Up
• General: BrickSlab

Location

• Road/Access: City Street
• Originating MLS: Stellar MLS
• County: Pinellas

Lot

• Zoning: WEST CENTRAL AVE SUB BLK BLOTS 12 AND 13 LESS ST22-31-16-96192-002-0120

Financial

• Source: Stellar MLS
• Ownership: Fee Simple