3462 3RD N AVENUE, St Petersburg, FL 33713

Grand Central District Income Property — St. Petersburg, FL
Duplex | Strong Cash Flow | Separate Meters | No Shared Walls
This is the kind of property seasoned investors look for and rarely find — a true cash flowing duplex in one of St. Petersburg’s most actively developing corridors, priced for the savvy buyer who understands value over aesthetics.
The Property
Two fully independent units with no shared walls — a layout that keeps tenant relations simple and turnover low. The property features two spacious 3 bed / 2 bath units with a market rent of $2,500/month each. Currently being used as a program for young adults to grow and strive. The current gross rent for Unit B in this program is $4800. Program can be transferred to new owner. Unit A is empty but approved for the same program, and is currently on waiting list for residents; projected for August. When unit A becomes fully occupied, it can bring in another $4800-$6000/month.
There is also a 1bd/1ba owner’s suite as well that can bring in another $1200. Total potential gross rent is $12,000.
No carpet anywhere — durable, low maintenance flooring throughout that tenants respect and landlords appreciate.
One unit sits above the garage offering complete privacy and separation. The second unit is adjacent to the garage at ground level. A fully fenced private patio completes the outdoor space — a feature that attracts long term tenants and keeps vacancy low.

The Numbers
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Current gross rent for Unit B — $4,800/month
Potential Rent by August for Unit A — $4800-$6000
Potential Rent for owner’s suite — $1200
Total Potential Rent — $12000
Tenants cover all utilities — separate electric and water meters for both units
Low overhead — low maintenance — strong tenant retention history

The Mechanicals

One new full HVAC system
One new mini split unit
Decent overall condition — solid bones — consistently tenant ready

The Location — This Is Where The Money Is
Centrally located in St. Petersburg’s Grand Central District — one of the city’s most actively evolving neighborhoods. Major commercial redevelopment has been approved along 34th Street between 22nd Ave N and 22nd Ave S — bringing new businesses, foot traffic, and long term appreciation to the immediate area. Surrounding improvements are already underway and values in this corridor are moving in one direction.
This is not a flip. This is not a project. This is a durable, easy to manage, cash flowing asset in a market that is actively being invested in at the municipal and commercial level. Long term tenants, low turnover, and a location that gets better every year.

Ideal for:

First time investors using the house hack strategy
Experienced investors adding a turnkey cash flowing asset
Buyers seeking strong ROI in an appreciating St. Pete corridor