Listing ID: T3381130
Price: $375,000
Status: Pending
Address: 1481 Grove Street
City: Clearwater
State: Florida
Postal Code: 33755
Bedrooms: 1
Total Baths: 2
SqFt: 1,690
Acres: 0.140
County: Pinellas
Subdivision: Highland Groves
Clearwater
FL
33755
Once in a blue moon you get lucky enough to find a Tri-plex which could be converted to a Quad-plex! Up to 4 units are possible with this investment opportunity. This Tri-Plex has a TWO - 1 bed/1bath units and ONE - 1 bed/1bath studio. All three units have hallways leading to a coin laundry for additional revenue. All three tenants have been strong long-term tenants providing 6.8% Capitalization Rate (Cap Rate). With updated market rental rates and remodeling this could rise to 8.5% with a maximum of 10% Cap Rate! **TENANTS NOT TO BE DISTURBED** A new landlord could keep the current management company and structure and walk into a 6% Cap Rate without much hesitation. Or push the envelope and remodel, get 3 to 4 tenants in, and flip the investment to another. The extreme potential, plenty of parking space, and perfect Clearwater location make this an extremely strong investment option. Contact us today for more information...

Primary Features

County: Pinellas
Property Sub Type: Triplex
Property Type: Residential Income
Subdivision: Highland Groves
Year Built: 1957

Interior

Building Area Units: Square Feet
Cooling Type: Central Air, Wall/Window Unit(s)
Fireplace: no
Heating Type: Electric
Interior Features: Master Bedroom Main Floor, Solid Wood Cabinets
Living Area Meters: 157.01
Living Area Source: Public Records
Living Area Units: Square Feet
Unit Count: 2

Location

Association: no
Country: US
MLS Area Major: 33755 - Clearwater
Senior Community: no
Township: 29
Waterfront: no

Additional

CDD: no
Contract Status: Inspections
Mls Status: Pending
Public Survey Range: 15
Public Survey Section: 14
SDEO: no

Financial

Annual Net Income: 23200.00
Current Price: 375000.00
Disclosures: Lead Paint, Seller Property Disclosure
Estimated Annual Market Income: 42000.00
Listing Terms: Cash, Conventional, Other
Ownership: Fee Simple
Special Listing Conditions: None
Tax Annual Amount: 2747
Tax Block: B
Tax Book Number: 6-75
Tax Lot: 9
Tax Year: 2021
Tenant Pays: Electricity

External

Attached Garage: no
Carport: yes
Carport Spaces: 4
Construction Materials: Block
Exterior Features: Lighting, Sidewalk, Storage
Flood Zone Code: X
Flood Zone Panel: 12103C0109J
Foundation Details: Slab
Garage: no
Lot Size SqFt: 5998
Lot Size Square Meters: 557
New Construction: no
Number Of Units Total: 3
Pool Private: no
Road Surface Type: Asphalt
Roof: Shingle
Sewer: Public Sewer
Total Acreage: 0 to less than 1/4
Total Number of Buildings: 1
Utilities: Cable Connected, Electricity Connected, Public, Sewer Connected, Street Lights, Water Connected
Water Access: no
Water Extras: no
Water Source: Public
Water View: no

Zoning Info


Listing information courtesy of New Acre Realty.

Listing information ©My Florida Regional MLS DBA Stellar MLS 2022. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale. Availability of any listing should always be independently verified. Listing information is provided for consumer personal, non-commercial use, solely to identify potential properties for potential purchase. All other use is strictly prohibited and may violate relevant federal and state law. Data last updated on Wednesday, August 10th, 2022 at 10:38:35 PM.

Contact - Listing ID T3381130

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Jon Smith

100 Beach Dr NE, Suite 101
St Petersburg, FL 33701
Phone: 415-200-8584

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