240 20TH AVE S St Petersburg FL 33705-2762

Bridgewater Commercial Real Estate is pleased to present 240 20th Ave S for sale. This quadruplex in the heart of the Old Southeast consists of two buildings with two units each, ample storage space and parking, a well-manicured front lawn and common area, and street and ally access. The front building holds two 1/1’s, each with a separate entrance, and the back building holds two very large storage spaces on the first floor and two studios on the second. The back building grants access to each unit via two outdoor staircases, and a shared indoor staircase. All units have been well maintained and are rented to long term tenants at market rates, reducing the need to increase rents or negotiate new leases. Each unit has been meticulously well maintained, with a mix of refurbished hardwood floors and tile. The roof of the front building was replaced in 2023, and the pluming has been maintained and replaced as needed.

The property also sits on the brick lined streets of the Old Southeast, a quiet, upscale neighborhood just south of downtown, and within an easy walk to Lassing Park – a public waterfront park and beach. It is also only two miles from Downtown St. Pete, a mile from USF St Pete Campus, and two miles from Tropicana Field.

Nearby development includes the 4th Street Townhomes (10 residential units), Lake Maggiore Apartments (330 residential units), Coquina Key Plaza (456 residential units and 20,817 SF of retail), and the new Arc Invest headquarters that is kicking off St. Pete’s new Innovation District along 4th Street.

With long term tenants in place, well maintained units, and market rents, this is a true turn-key St. Pete Multifamily investment.

• Turnkey investment requiring minimal maintenance expenses

• Long term tenants in place paying market rents

• New roof in 2023

• Two studios and two 1/1’s with ample storage, parking, alley access, and manicured common area

• Units have been meticulously maintained, with a mix of tile floors and refurbished hard wood

• Crawl space under each building grants easy access to plumbing

• Located in the Old Southeast, a quiet, upscale neighborhood with brick lined streets just south of Downtown St. Pete, with easy walking access to Lassing Park – a waterfront public park

• Adjacent to St. Pete’s Innovation District, and close by four major development projects, this property is in a prime position for long term appreciation

• ​Turnkey asset with minimal anticipated capex
• ​Located 1 mile from USF St.​ Pete Campus, 2 miles from Downtown St.​ Pete and Tropicana Field Development, and an easy drive to the Gulf beaches
• ​Surrounded by new Multifamily development, providing future economic upside
• ​Low-maintenance unit mix with tile and refurbished hardwood flooring throughout
• ​Ample on-site parking, alley access, and a manicured shared common area
• ​Easy access to add laundry in garage space
• ​Property has been well maintained on interior with routine maintenance and turnover renovations, and on exterior with landscaping and routine upkeep

240 20th Ave S the Old Southeast Quad represents a turnkey, income-producing asset in one of St. Petersburg's most desirable and appreciating submarkets. The property benefits from long-term tenants paying market rents, immediately stabilizing cash flow for a new owner while minimizing lease-up risk. Its location places it within easy walking distance of Lassing Park's waterfront green space and beach, just two miles from both Downtown St. Petersburg and Tropicana Field, and roughly a mile from USF St. Petersburg's campus — positioning the asset to capture steady rental demand from students, young professionals, and downtown commuters alike. The surrounding area is also seeing significant near-term growth, with the adjacent Innovation District and four major nearby developments (including the 456-unit Coquina Key Plaza and 330-unit Lake Maggiore Apartments) pointing to continued economic momentum. For investors seeking a well-located, cash-flowing multifamily asset with embedded upside from neighborhood appreciation, this Old Southeast Quad offers a compelling combination of current income and long-term growth potential.