720 - 724 7th Street N, St Petersburg, FL 33701

Property Description

Two homes. One oversized lot. Endless possibilities in Historic Uptown. Back on the market due to buyer financing, this exceptional Historic Uptown property returns better than ever with a brand-new roof on the main residence, electrical and plumbing upgrades, two brand-new water heaters, and a 2022 A/C. Rare opportunity to own two independent residences on one oversized 60’ x 128’ (7,780 SF) lot in one of St. Petersburg’s most sought-after and walkable neighborhoods. With alley access, tandem off-street parking for up to 10 vehicles, and separate water and electric meters for each residence, this is a versatile property equally suited for owner-occupants, multigenerational living, and long-term investors. The front residence (720) offers approximately 1,098 square feet of living space with 2 bedrooms and 2 updated en-suite bathrooms. An open-concept living and dining area flows into the updated kitchen featuring stainless steel appliances, while the screened porch/sunroom. The principal bedroom has sliders out a private fenced courtyard and spacious side yard—perfect for entertaining, gardening, pets, or relaxing outdoors. The rear residence (724) offers approximately 693 square feet with 2 bedrooms, 1 bathroom, private laundry, newer kitchen appliances, and its own private living area, making it ideal for long-term rental income, extended family, guests, or a dedicated home office. Each residence has its own water and electric meter along with a dedicated washer and dryer, providing added convenience for occupants and simplified management for investors. Previously rented for approximately $2,500 monthly for the front residence and $1,500 monthly for the rear residence, the property has demonstrated approximately $4,000 monthly in gross rental income, with potential for future increases. Buyers should independently verify rental income, expenses, and investment projections. The property’s legal two-family designation may provide financing opportunities for qualified owner-occupant buyers, including low down payment loan programs like FHA, while allowing rental income from the second residence to help offset monthly housing costs. Buyers should verify financing eligibility with their lender. Located in Flood Zone X, flood insurance is not currently required by most lenders. Enjoy one of St. Petersburg’s most walkable neighborhoods, just minutes from vibrant downtown and approximately 1.5 miles from the iconic St. Pete Pier. Walk or bike to Crescent Lake Park, Beach Drive, Vinoy Park, waterfront parks, museums, galleries, restaurants, cafés, breweries, hospitals, and year-round festivals and entertainment. Quick access to I-275 provides convenient travel throughout Tampa Bay, while the area’s award-winning Gulf beaches are only a short drive away. Properties offering two independent residences on one oversized parcel with separate utilities, significant recent system upgrades, abundant parking, proven rental history, and exceptional flexibility rarely become available in Historic Uptown. Whether you’re looking to live in one residence while generating income from the other, accommodate extended family, or add a unique asset to your investment portfolio, this property presents an outstanding opportunity in one of St. Petersburg’s most desirable neighborhoods.