2371 7th Street S, St Petersburg, FL 33705

Property Description

Discover the flexibility and potential of this legally recognized duplex, conveniently located just minutes from vibrant Downtown St. Petersburg and within easy reach of the Gulf beaches, waterfront parks, restaurants, shopping, arts, entertainment, and everything that makes St. Pete such a desirable place to live and invest. Whether you envision living upstairs while completing the lower unit, creating a multigenerational setup, or renovating both spaces for rental income, this property offers several paths forward. The property will convey vacant, allowing the next owner to renovate, occupy, or lease on their own schedule. The upper residence features a functional 2-bedroom, 1-bath layout with approximately 706 square feet. It is livable in its current condition, although dated, and may be available partially furnished by separate agreement. The upstairs unit is served by central air conditioning. The legally recognized downstairs residence offers a 1-bedroom, 1-bath layout with approximately 681 square feet. It experienced storm-related flooding during the 2024 hurricanes and was professionally remediated and gutted in preparation for reconstruction. Post-remediation air-quality testing was completed in May 2025, and the available report will be provided for buyer review. The lower unit requires new drywall, flooring, kitchen, bathroom, paint, texture, and interior finishes before it may be occupied or rented, giving the next owner the opportunity to select the finishes and complete the space to their own vision. An approved City of St. Petersburg Post Disaster Emergency Permit remains open, and the buyer will be responsible for completing the required work, inspections, and final permit closeout. New windows and hurricane shutters were installed in 2025. The property also features separate electric meters, one shared water meter, and a spacious backyard with ample room for off-street parking. Projected rents are approximately $1,650 per month upstairs and $1,300 per month downstairs once renovated, for potential combined gross rent of approximately $2,950 per month. Rental figures are estimates only and are not guaranteed. With vacant possession, two legal units, strong projected income, and the opportunity to complete the downstairs to your own vision, this property offers a compelling path for an owner-occupant, investor, or renovator. Bring your ideas, schedule your showing, and make this St. Petersburg opportunity yours.