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The Multifamily Firm Brokers Apartment Building Sale in Downtown St Petersburg, FL

The Multifamily Firm Brokers Apartment Building Sale in Downtown St Petersburg, FL

February 17, 2022

The Multifamily Firm is proud to announce the sale of 730 Downtown Flats, a unique 9-unit, 1918 construction apartment building in Downtown St Petersburg, Florida. Originally built as a personal mansion, the property was converted several years back into an apartment building comprised entirely of one-bedroom and studio units. As such, 4 of the 9 units are now considered “non-conforming” units, and although generating cash flow, created numerous challenges from a sale perspective.

Despite the challenges, the offering generated multiple offers, and ultimately sold for $930,000, equating to exactly $300 per square foot, $103K per unit including the non-conforming units and $186K per unit without including the non-conforming units. Through a rigorous marketing campaign, the property generated an astounding 1,158 registered buyers from almost every State around the Country and resulted in the sourcing of a new to market international buyer.

The 730 Downtown Flats is located within walking distance of Central Avenue, Beach Drive, University of South Florida, St Petersburg College, and Tropicana Field: the home of the Tampa Bay Rays. The superior walkability of the location provides residents with the rare ability to live car-free and as such, the real estate provides tremendous future redevelopment potential.

The marketing & sale of the property was brokered by Kyle Keelan & Phil Ginexi of The Multifamily Firm. For additional information regarding the sale and/or upcoming offerings, please contact us directly to join our distribution list for new exclusive listings before they hit the market! 


  • Sale Price: $930,000 ($300 Per Square Foot)
  • Unique 9-Unit, 1918 Construction Apartment Building in Downtown St Pete
  • Originally a Mansion, Converted into an Apartment Building w/ All One-Bedroom & Studio Units
  • Successfully Overcame Sale Challenges Linked to 4 of the 9 Units Considered Non-Conforming Units
  • Produced an Astounding 1,158 Registered Buyers from Nearly Every State Around the Country
  • Sourced a New to Market International Buyer
  • Within Walking Distance of Central Ave, Beach Drive, USF, St Pete College & Tropicana Field