CBRE is pleased to present 2nd Street Apartments, a recently renovated, 22-unit community in the core of downtown St. Petersburg at 425 2nd St. N, offering investors a turnkey asset in one of Florida's fastest-growing downtowns. Built in 1956 of solid concrete block, the property has undergone a comprehensive, top-to-bottom renovation. All 22 homes are efficient studio floor plans on a 0.22-acre DC-2 parcel, appealing to downtown professionals, students, and renters who want a walkable location. Interiors have been rebuilt with modern appliances, new cabinetry, updated countertops, new vinyl plank flooring, updated lighting and fixtures, tiled baths, and mini-split AC, while shared amenities include a landscaped courtyard, on-site laundry and parking, electric vehicle charging, and secure gated access. The concrete block construction delivers long-term structural durability and lower maintenance, and the completed renovation means the next owner inherits a modernized, move-in-ready property. The location of the asset provides strong, steady demand from renters who want to live in the heart of downtown, complementing the area's growing base of Class A high-rises. 2nd Street Apartments sits in the walkable core of downtown St. Petersburg, earning a Walk Score of 94 for its proximity to Beach Drive, the Central Avenue dining corridor, and the waterfront. The property is less than a mile from the 26-acre St. Pete Pier, sits adjacent to the Sundial retail redevelopment led by Ally Capital and Paradise Ventures, and is a short walk from Vinoy Park and North Straub Park. The University of South Florida's St. Petersburg campus and the Bayboro Harbor Innovation District are roughly a mile away, and the SunRunner bus rapid transit line links the neighborhood to the Gulf beaches. A deep downtown employment base of roughly 32,000 jobs, spanning health services, leisure and hospitality, government, finance, and science, supports steady rental demand. Beyond its in-place income, the 0.22-acre DC-2 parcel carries meaningful long-term upside as a covered land play. The downtown zoning supports higher-density development, letting an investor collect stable, renovated-asset cash flow now while holding a well-located site for future redevelopment as downtown St. Petersburg continues to add Class A density. With its durable concrete block construction, completed renovation, position in the walkable core of one of Florida's strongest downtowns, and long-term redevelopment optionality, 2nd Street Apartments represents a compelling opportunity for investors seeking a well-located, recently renovated studio community that operates from day one while offering a path to future value creation.