Welcome to the Pearson Apartments, a 10-unit historic cottage court multifamily property that is perfectly located in St. Petersburg’s Crescent Lake neighborhood. This highly sought-after location is consistently in high demand from tenants, ensuring minimal vacancies, a steady stream of rental income, and high potential for future appreciation in property value. The Pearson has eight one-bedroom units and two studio units. All of the one-bedroom units have a screened-in porch facing a beautiful, central courtyard complete with large oak shade trees. The property also includes off-street parking for most units and on-site laundry facilities. This property is located in Flood Zone X: a low-risk flood zone for added peace of mind. Crescent Lake is only two blocks away, and Downtown St. Pete is less than 2 miles from the property. Easy access to major highways ensures convenient commutes to Tampa, both regional airports, and the stunning beaches of Pinellas County. Some of the units at the Pearson have been recently updated, providing tenants with modern comforts in an unbeatable location, and the other apartments await your finishing touches to bring them to the same condition. This property is being sold as-is. This is an outstanding opportunity to acquire a modernized, income-producing asset in the heart of St. Petersburg. Please do not disturb the tenants/ do not walk the property. Showing by appointment only. Please contact the listing Agent with all questions and to set up showings.