PRICE REDUCTION! Priced to sell! Welcome to 4701 3rd Avenue South, a unique and versatile property in St. Petersburg that offers the rare combination of strong construction, flexible living options, and built-in income potential. Situated on a desirable corner lot along charming cobblestone streets, this solid block home-including the second story-provides long-term durability and peace of mind, all while sitting high and dry with no flood insurance required. One of the most compelling aspects of this home is its layout. The property features a fully separate upstairs living space complete with its own kitchen, private exterior entrance, and dedicated A/C system. This design allows for true flexibility-whether you're looking to house hack by living downstairs while generating $2300+/month from the upstairs, rent both levels for maximum income, or simply enjoy the property as a spacious 5-bedroom, 3-bath single-family home ideal for multi-generational living. Inside, the home blends character and functionality with a warm, inviting layout. The main level features a wood-burning fireplace, decorative beams, durable tile flooring, and beautifully refinished heart of pine floors, while the upstairs offers refinished oak flooring that adds to the home's charm and appeal. The thoughtful layout allows for separation when needed, while still functioning seamlessly as one cohesive residence. Outside, the property continues to impress with a private courtyard, a rustic outdoor fireplace, and a storage shed designed to complement the home's architecture. Additional upgrades such as a Bluetooth-controlled irrigation system enhance convenience and usability. The location is equally attractive, just minutes from downtown St. Petersburg, the Gulf beaches, and within walking distance to the SunRunner, offering easy access to dining, entertainment, and waterfront amenities. Whether you're an investor, an owner-occupant looking to offset your mortgage, or a buyer seeking a flexible long-term home, this property offers options that are hard to find in today's market.