The Isle of St. Croix Apartments — Sale in St. Petersburg, FL

  • Price: $1.6M
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: St. Petersburg, FL 33702
  • Year built: 1973

Description

The Isle of St. Croix Apartments is a rare investment opportunity in the highly desirable Fossil Park area of St. Petersburg. This well-maintained, single-story community consists of 10 spacious 1BR/1BA units of approximately 600 SF each, across three concrete block buildings inclusive of a shared laundry room. Each apartment features a large living area, eat-in kitchen with shaker cabinets, granite countertops, breakfast bar, oversized bedroom with walk-in closet, and a private patio space. Ideally located just minutes from Downtown St. Pete, I-275, and the vibrant 4th Street corridor, offering convenient access to premier shopping, dining, and employment centers. Tenants pay electric and water/sewer (billed back), while the owner covers trash, lawn and pest service. Fully occupied with historically low vacancy, this property is a strong turnkey multifamily investment in a prime central location. Year Built: 1973 | Listing Type: FOR SALE

Market Context

This multifamily in St. Petersburg, FL is listed for sale at $1,575,000. The building dates to 1973. It has been on the market for 9 days. Compare it against other multifamily listings for sale in St. Petersburg, FL — view the full market.

As of Q4 2025, the Tampa multifamily market showed a 10.3% vacancy rate, rents up 1.9% year over year, and cap rates around 5.6%.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Multifamily market FAQ

What is the typical cap rate for multifamily in Tampa?
About 5.6% as of Q4 2025.
Is the Tampa multifamily market tightening or softening?
Vacancy is around 10.3%, with asking rents rising year over year (Q4 2025).

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