621 E St - Multi-Family FOR SALE


Clearwater, FL 33756- South Clearwater
$525,000 USD
813-865-3091
621 E St, Clearwater, FL for Sale
$525,000 USD
Multi-Family - FOR SALE
1/9
null | 9.42% Cap Rate

621 E St
Clearwater, FL 33756
South Clearwater


HIGHLIGHTS

  • Lakeview Lofts at 621 E Street present four units, 100% leased comprised of one main home and three studio units.
  • The property has been recently renovated and presents value-add opportunity via market-rate rents and further on-site upgrades.
  • Lakeview Lofts are professionally managed and are just off the scenic Lake Belleview for views and recreation.
  • Located in a phenomenal location with easy access to the area's best attractions, restaurants, and entertainment.

OVERVIEW

621 E Street is home to the Lakeview Lofts, a 100% occupied and professionally managed multifamily asset comprised of one main home and three studio units. The property has undergone various recent improvements and received a new roof in 2016. It is in a phenomenal location with easy access to Clearwater's best attractions, as well as restaurants, shopping, and entertainment. Lakeview Lofts overlook Lake Belleview and are conveniently not in a flood zone. The units are currently leasing for $5,875/ month; see below for further income/expense breakdown. Cost analysis performed as rental property: In: Rent - $70,500.00 Out: (Annual) Property Taxes - $4,344.30 (Annual) Estimated Insurance - $2,401.00 (Annual) Property Management (Optional) - $5,640.00 (Annual) Estimated Utilities/Lawn/Repair/Misc. - $8,640.00 Total Costs - $21,025.30 Net: $49,474.70 Earn: Total yearly net equates to - $49,474.70 Total monthly gross equates to - $5,875.00 Total monthly net equates to - $4,122.89

FOR SALE DETAILS

PRICE

$525,000 USD

PRICE/SF

$210 USD /SF

# OF UNITS

4

PRICE/UNIT

$131,250

CAP RATE

9.42%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lakeview Lofts

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1946

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.22 AC

LAND SF

9,801 SF

ZONING

MDR

APN/PARCEL ID

21-29-15-07362-002-0060

ASK ABOUT THIS PROPERTY

Kurt WestfieldBlue Peak RealtyMore Info
813-865-3091

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Kurt WestfieldBlue Peak RealtyMore Info
813-865-3091

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.