1231 Illinois Ave - Apartments FOR SALE


Palm Harbor, FL 34683
$590,000 USD
727-846-3025
1231 Illinois Ave, Palm Harbor, FL for Sale
$590,000 USD
Apartments - FOR SALE
1/81
null | 8% Cap Rate

1231 Illinois Ave
Palm Harbor, FL 34683


HIGHLIGHTS

  • Downtown Palm Harbor location within walking distance to retail, dining, and waterfront parks.
  • Recent roof replacement in 2025 supports low ongoing maintenance costs.
  • Two 3BR/2BA units with separate garages, providing strong tenant appeal.
  • One fully renovated unit is ready for immediate lease-up at market rates.
  • Near Pinellas Trail, marinas, and major road access for regional connectivity.
  • Situated in a sought-after area with steady rental demand and stable tenant base.

OVERVIEW

Prime Downtown Palm Harbor Duplex Property: Each unit: 3 beds, 2 full baths, attached garages. Condition Excellent: New roof (2024). new hot water heater (2026) newer A/C 2020 One unit fully updated and vacant — ready for immediate occupancy and rent increase to $2,600+/month. Income potential: Unit A (updated renovated, vacant) — $2,600+ Unit B at this time on month to month at $1,800 month. Parking for 6 cars. Highlights: Walkable or Golfcart downtown location with shops, restaurants, and marina access Strong rental demand in Palm Harbor; popular with professionals and small families Low-maintenance recent roof replacement (2025)plus much more Separate garages and full 3BR / 2 full bath layouts in both units “*Freshly renovated unit — move-in ready” Charming downtown with boutique shops, cafés, and waterfront parks. Close to the Pinellas Trail, local marinas, and easy access to major roads for Tampa/St. Pete commutes. Attracts renters seeking small-town coastal lifestyle with nearby amenities and good schools. *Next door duplex unit also possible available both units sit on 4 lots.*

FOR SALE DETAILS

PRICE

$590,000 USD

PRICE/SF

$236 USD /SF

# OF UNITS

2

PRICE/UNIT

$295,000

CAP RATE

8%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Palm Harbor Downtown Golf Cart District

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1985

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.26 AC

LAND SF

11,500 SF

ZONING

C-3, County

APN/PARCEL ID

01-28-15-88560-127-1100

ASK ABOUT THIS PROPERTY

Mark LongeneckerFHR Commercial RealtyMore Info
727-846-3025

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Mark LongeneckerFHR Commercial RealtyMore Info
727-846-3025

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