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Additional details

Keith Francis

keith@roundtablerealty.com +1(904) 874-2066

$ 1,100,000

Est. payment | -/mo

10,018 Sqft Lot

Save Virtual Tour

$ 1,100,000

Est. payment | -/mo

Save Virtual Tour

10,018 Sqft Lot

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Subdivision Croxton Sub

MLS Listing ID TB8515545

HOA Y/N No

Annual Tax Amount $5,179

Lot Size 10,018 Sqft

Acres 0.23

Lot Dimensions 112x90

Property Sub-Type Multi Family

Source Stellar MLS

Property Description

Positioned in one of St. Petersburg's most compelling growth corridors, 421 15th Ave S presents a rare multifamily development opportunity in the direct path of progress—strategically located between the thriving Innovation District and the rapidly transforming Old Southeast, with the transformative Tropicana redevelopment continuing to fuel momentum throughout the surrounding area. This is the type of boutique urban infill opportunity developers and multifamily investors actively seek: a thoughtfully designed project with a clearly defined entitlement pathway in one of Tampa Bay's fastest-evolving submarkets. The property is being offered as site plan approved and includes the land, architectural plans, renderings, and survey documentation for a proposed 11-unit courtyard-style apartment community. While future entitlements, permitting, and final approvals are not guaranteed and remain subject to buyer diligence and municipal approval processes, the project has already achieved meaningful progress through the development process, substantially reducing early-stage planning hurdles for the next owner. For qualified buyers seeking to further accelerate the timeline to construction, the seller may deliver the project fully entitled, permit-ready, and shovel-ready for an additional fee, creating a rare opportunity to acquire a boutique multifamily development with significant pre-development work already completed. The proposed unit mix has been intentionally designed to meet growing demand for efficient, design-forward urban housing, featuring 4 studio units (~317 SF average), 4 one-bedroom units (~404 SF average), and 3 two-bedroom units (~714 SF average). The concept targets strong demand from young professionals, workforce housing tenants, medical district employees, and renters seeking proximity to Downtown St. Petersburg, the waterfront, and major employment centers. Architecturally, the project embraces a modern Spanish ranch aesthetic blending timeless character with contemporary livability—highlighted by stucco exterior finishes, metal roof elements, private balconies, abundant natural light, and a thoughtfully designed landscaped courtyard intended to foster community interaction and enhance tenant experience. The overall design prioritizes efficient layouts, shared outdoor spaces, and strong curb appeal, creating a highly attractive boutique multifamily product for this rapidly appreciating corridor. As developable land opportunities continue to diminish throughout St. Petersburg and entitlement timelines become increasingly challenging, projects with meaningful progress already achieved are becoming exceptionally scarce. Pricing reflects the project's current approval status, while offering substantial upside potential tied to future entitlement progression, permitting milestones, and continued neighborhood growth driven by significant public and private investment nearby. Whether envisioned as a long-term hold for stabilized cash flow, a boutique multifamily showcase asset, or a strategic build-to-sell opportunity, 421 15th Ave S represents a compelling acquisition opportunity in one of the city's highest-upside redevelopment corridors.

Location

State FL

County Pinellas

Community Croxton Sub

Area 33701 - St Pete

Direction S

Exterior

Utilities Available Cable Connected, Electricity Available, Public, Sewer Connected, Water Connected

Building

Lot Size Range 0 to less than 1/4

Sewer Public Sewer

Water Public

Others

Ownership Fee Simple

Special Listing Condition None

Virtual Tour https://www.propertypanorama.com/instaview/stellar/TB8515545

Listed by Zach Steinberger COMPASS FLORIDA LLC

NEARBY SCHOOLS & PROPERTIES

"People Before Property"

Assisting buyers and sellers in achieving their goals is literally what I love to do!

+1(904) 469-7653

admin@roundtablerealty.com

1637 Racetrack Rd, Jacksonville, FL, 32259

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421 15TH AVE S St Petersburg, FL 33701