2779 - 2780 Cypress Dr - Apartments FOR SALE


Clearwater, FL 33763
$1,625,000 USD
727-441-1951
2779 - 2780 Cypress Dr, Clearwater, FL for Sale
$1,625,000 USD
Apartments - FOR SALE
1/7
null | Request Cap Rate

2779 - 2780 Cypress Dr
Clearwater, FL 33763


HIGHLIGHTS

  • 7 Unit Apartment Complex Located Close to Countryside Mall
  • Separate Water Meters for Each Apartment Unit - Great Owner Benefit
  • New Roofs in December 2023. Buildings are well maintained with no deferred maintenance.
  • Concrete block buildings - Built in 1999 & 2000
  • Easy access to SR-580 and US Highway 19
  • Great Investment in North Pinellas County

OVERVIEW

2779 and 2780 Cypress Drive is a well maintained 7 unit apartment complex located in Clearwater, Florida close to the Countryside Mall. The Complex consists of two adjacent properties: 2779 Cypress Drive which has two duplexes(total of 4 apartments) and 2780 Cypress Drive which is a triplex. These properties together provide a total of 7 apartment units in an excellent location right off SR-580 and US Highway 19 in north Pinellas County. Easy access to the entire Tampa Bay area and in close proximity to Dunedin, Palm Harbor, and Safety Harbor. 2779 Cypress Drive consists of two well maintained duplexes with a total of 4 units. Each unit has 2 bedrooms and 1 bathroom. Concrete block construction and new roofs, these apartments have been recently renovated. All of the units have washer/dryer hookups. All of the apartments have one car garages with openers. These units also have the significant benefit of having individual water meters for each apartment so the tenants pay their own water & sewer service directly to the utility company. The buildings have new roofs in 2023 so there is no deferred maintenance. 2780 Cypress Drive is a concrete block triplex. Each of the three apartment units are 2 bedrooms with 1 bathroom. The units generally have remodeled bathrooms and updated kitchens. The kitchens have stainless steel refrigerators, dishwashers, stoves/ovens, and microwaves. Two of the apartments units have a one car garage with automatic openers. The units also have washer/dryer hookups. The roofs are new, installed in 2023. Each apartment unit has its own water meter so the tenants pay their own water & sewer charges directly to the utility company. As a bonus, because these are two separate properties, they will qualify for attractive residential financing terms.

FOR SALE DETAILS

PRICE

$1,625,000 USD

PRICE/SF

$224 USD /SF

# OF UNITS

7

PRICE/UNIT

$232,143

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2000

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.94 AC

LAND SF

40,946 SF

ZONING

R-4 Pinellas county

APN/PARCEL ID

30-28-16-07272-000-0930,30-28-16-07272-000-1400

ASK ABOUT THIS PROPERTY

Joseph SantolucitoKlein & Heuchan, Inc.More Info
727-441-1951

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Joseph SantolucitoKlein & Heuchan, Inc.More Info
727-441-1951

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