309 Avanda Ct - Multi-Family FOR SALE


Clearwater, FL 33756- Downtown Clearwater
$2,325,000 USD
724-272-9001
309 Avanda Ct, Clearwater, FL for Sale
$2,325,000 USD
Multi-Family - FOR SALE
1/13
null | 5.87% Cap Rate

309 Avanda Ct
Clearwater, FL 33756
Downtown Clearwater


HIGHLIGHTS

  • Renovated 14-unit apartment community ideally positioned in the rapidly revitalizing Downtown Clearwater submarket
  • Desirable unit mix consisting primarily of spacious two-bedroom/one-and-a-half-bathroom floor plans
  • Concrete block construction across all three residential buildings

OVERVIEW

Significant value-add opportunity to increase Effective Gross Income by approximately 23% through light interior renovations and bringing below-market rents to current market levels. Flexible revenue stream with one unit currently operating as a successful Airbnb, providing the option to continue short-term rental operations or convert to a traditional annual lease. Attractive combination of in-place cash flow and operational upside, creating an opportunity for immediate income with meaningful future appreciation potential. Less than one mile from Downtown Clearwater, offering walkable access to Cleveland Street’s restaurants, breweries, shopping, entertainment and the city’s expanding waterfront district. Approximately 8 minutes from Clearwater Beach, one of Florida’s premier Gulf Coast destinations, supporting a strong local employment base and year-round housing demand. Convenient access to US-19, Gulf-to-Bay Boulevard (SR-60), Alt US-19, and Interstate 275, allowing residents to quickly commute throughout Clearwater, St. Petersburg, Tampa and the greater Tampa Bay MSA. Located minutes from the $84 million Imagine Clearwater redevelopment, including the new Coachman Park and BayCare Sound waterfront entertainment venue, which continue to drive investment, tourism and long-term growth throughout Downtown Clearwater

FOR SALE DETAILS

PRICE

$2,325,000 USD

PRICE/SF

$207 USD /SF

# OF UNITS

14

PRICE/UNIT

$166,071

CAP RATE

5.87%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

309-312 Avanda Court

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1968

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.41 AC

LAND SF

17,860 SF

ZONING

RM

APN/PARCEL ID

15-29-15-38574-009-0230

ASK ABOUT THIS PROPERTY

Zachary BrownMarcus & MillichapMore Info
724-272-9001

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Zachary BrownMarcus & MillichapMore Info
724-272-9001

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