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$ 1,100,000
Est. payment | /mo
10,018 Sqft Lot
$ 1,100,000
Est. payment | /mo
10,018 Sqft Lot
Key Details
Property Type Multi-Family, Multi Unit, Duplex/Multi Unit Lot
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
View Y/N No
Water Access No
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
© 2026 My Florida Regional MLS DBA Stellar MLS. All Rights Reserved.
Listed by Zach Steinberger COMPASS FLORIDA LLC
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