Exceptional income-producing opportunity in Old Southeast! Discover this versatile five-unit multifamily property with projected annual gross rental income of $102,000. Ideally located in one of St. Petersburg's most charming residential neighborhoods, right next to beautiful Lassing Park and the sparkling waters of Tampa Bay! Enjoy the best of both worlds: a quiet, peaceful neighborhood with mature trees and a tranquil atmosphere, yet just a short bike ride from the heart of downtown St. Petersburg. Enjoy convenient access to waterfront parks, award-winning restaurants, museums, shopping, nightlife, and the iconic St. Pete Pier. The property features five rental units across two separate buildings, offering a desirable mix of two 2-bedroom/1-bathroom units, one 1-bedroom/1-bathroom unit, and two studios. A charming garden courtyard separates the buildings, creating an inviting outdoor setting, while select units feature private patios. Shared laundry facilities provide additional convenience. Flexibility is the key! Whether you're looking to expand your investment portfolio, live in one unit while generating rental income from the others, or explore a combination of long-term and short-term rental strategies, this property offers multiple possibilities. Four units are currently operated as traditional rentals, while the fifth has an established Airbnb rental history. With impressive income potential, five income-producing units, and an outstanding location beside Lassing Park and just minutes from vibrant downtown St. Petersburg, this is a compelling opportunity for investors and owner-occupants alike. An exceptional combination of location, income potential, and flexibility!