115 Cleveland Ave - Apartments FOR SALE


Largo, FL 33770- Ridgecrest
$900,000 USD
727-481-6842
115 Cleveland Ave, Largo, FL for Sale
$900,000 USD
Apartments - FOR SALE
1/15
null | 7.25% Cap Rate

115 Cleveland Ave
Largo, FL 33770
Ridgecrest


OVERVIEW

The property (all 1/1's) features a thoughtful mix of rental options, including traditional long-term leases and flexible mid-term arrangements for a duration of 90 days or more. Of the five available units, three are currently designated for long-term rentals, providing stable and reliable income. The remaining two units are successfully rented on a mid-term basis through popular platforms such as Airbnb, VRBO, and Furnished Finders, catering to a growing market of travelers and professionals seeking temporary accommodations. All units boast a private & fenced outdoor space. This property sits outside the requirement for flood insurance. The effective rental income presented in the OM package is based on actual earnings received in 2024, illustrating the financial viability and potential profitability of this investment. The building itself is constructed with solid block, ensuring durability and low maintenance costs, while the location continues to draw interest from potential tenants and guests alike. This combination makes the property a highly attractive long-term investment opportunity that is poised for continued success. This property is ideally suited for anyone looking to enter the lucrative world of Airbnb rentals. With the current setup already established and operational, it offers a seamless transition for new investors seeking to make their mark in the rental market. For seasoned investors, this property represents a fantastic addition to an existing portfolio, enhancing diversification and revenue potential.

FOR SALE DETAILS

PRICE

$900,000 USD

PRICE/SF

$255 USD /SF

# OF UNITS

5

PRICE/UNIT

$180,000

CAP RATE

7.25%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1960

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.2 AC

LAND SF

8,712 SF

ZONING

MF

APN/PARCEL ID

34-29-15-97398-006-0060

ASK ABOUT THIS PROPERTY

Brad Carter CCIMCarter Property Group, LLCMore Info
727-481-6842

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Brad Carter CCIMCarter Property Group, LLCMore Info
727-481-6842

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