

The Holly House Collection
Sixteen Units | Old NE | Historic Uptown | $174,375/Unit
Marketing description
Verdad Commercial Real Estate Services is proud to present the newly listed Holly House Collection. The Holly House Collection pairs two early twentieth century multifamily properties in the most established historic residential neighborhoods north of downtown Saint Petersburg. Offered together at $2,790,000, or$174,375 per unit, the portfolio totals 16 units across 7,804 square feet, sits 100% occupied as of May 2026, and produces $247,800 in current annual revenue with a capital light path to materially higher income.
Holly House, at 211 7th Avenue North, anchors the portfolio in the Historic Old Northeast, the first neighborhood the City of Saint Petersburg officially designated, platted in 1911. Built in 1925, it holds eight units across a frame front building and a rear structure of concrete block with stucco at grade and frame above, a configuration that pairs the streetscape character of the front building with the added unit count and garage income of the rear.
727 7th Avenue North sits less than half a mile southwest in Historic Uptown. Built in 1910, it is the older of the two assets and follows the same logic, a frame front building paired with a rear structure (addressed 725 7th Avenue North) of block and stucco at grade with frame above, one block off the 4th Street North commercial corridor.
The two assets sit within half a mile of each other, and that proximity is the operating thesis: a single management infrastructure, one vendor network, and unified oversight across all 16 units in two of the city's most durable rental submarkets. For a local or regional operator, this is an efficient, self portfolio with easily attainable upside.
Investment highlights
- 16-unit multifamily portfolio in Saint Petersburg, two historic buildings on 7th Ave N sold together for $2,790,000 ($174,375/unit).
- 100% occupied with $247,800 in current annual revenue and immediate in-place income.
- $42,624 of loss-to-lease to capture, with in-place rents averaging $1,290 against $1,395–$1,595 market.
- 16.60% levered IRR and a 4.81x equity multiple over a ten-year hold.
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