Belleair Landing Multi-Family FOR SALE


Clearwater, FL - South Clearwater
$5,350,000 USD
727-317-6766
, Clearwater, FL for Sale
$5,350,000 USD
Multi-Family - FOR SALE
1/27
null | 5.06% Cap Rate

Belleair Landing
Clearwater, FL
South Clearwater


HIGHLIGHTS

  • Significant recent CapEx
  • Value-add opportunity
  • Concrete block construction and not in a flood zone
  • Desirable unit mix
  • Located in a quiet residential area of Clearwater
  • New roofs (2019/2021/2025)

OVERVIEW

Belleair Landing is a 28-unit, 2-property, garden-style multifamily community located centrally in Clearwater and on the edge of affluent Belleair, Florida. Adjacent to South Fort Harrison Avenue, offering convenient access throughout the county and to a majority of area employment and entertainment options. The property is less than 1 mile to major demand drivers like Bay Care Morton Plant Hospital (687 beds), two world renowned golf courses, and the historic Belleview Inn. The property is also three miles or less from Clearwater Beach and HCA Largo Medical Center (455 beds). A new investor can benefit from significant recent CapEx and property improvements at Wildwood, such as interior renovations, exterior paint and lighting, landscaping, common area pavers, new roof (2019) and full electric meter bank replacement. An Investor can benefit from more comprehensive renovations at Hamlet, such as new roofs (2021/2025), a repaved parking area, landscaping and irrigation, in-unit washer & dryer, new tankless water heaters, luxury interiors, upgraded electric panels, and new doors and windows. The Hamlet building has a washer/dryer in each unit, and each unit is separately metered for all utilities. It is recommended that a new owner continue to improve on the in-place renovations and utility bill back program.

ASK ABOUT THIS PROPERTY

Sebastian HarrisColliersMore Info
727-317-6766

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Sebastian HarrisColliersMore Info
727-317-6766

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