$320,000
$375,000
14.7%For more information regarding the value of a property, please contact us for a free consultation.
1481 GROVE ST Clearwater, FL 33755
1 Bed
2 Baths
1,690 SqFt
Key Details
Sold Price $320,000
Property Type Multi-Family
Sub Type Triplex
Listing Status Sold
Purchase Type For Sale
Square Footage 1,690 sqft
Price per Sqft $189
Subdivision Highland Groves
MLS Listing ID T3381130
Sold Date 10/26/22
Bedrooms 1
Construction Status Appraisal,Financing,Inspections
HOA Y/N No
Originating Board Stellar MLS
Year Built 1957
Annual Tax Amount $2,747
Lot Size 6,098 Sqft
Acres 0.14
Property Description
Once in a blue moon you get lucky enough to find a Tri-plex which could be converted to a Quad-plex! Up to 4 units are possible with this investment opportunity. This Tri-Plex has a TWO - 1 bed/1bath units and ONE - 1 bed/1bath studio. All three units have hallways leading to a coin laundry for additional revenue. All three tenants have been strong long-term tenants providing 6.8% Capitalization Rate (Cap Rate). With updated market rental rates and remodeling this could rise to 8.5% with a maximum of 10% Cap Rate! **TENANTS NOT TO BE DISTURBED** A new landlord could keep the current management company and structure and walk into a 6% Cap Rate without much hesitation. Or push the envelope and remodel, get 3 to 4 tenants in, and flip the investment to another. The extreme potential, plenty of parking space, and perfect Clearwater location make this an extremely strong investment option. Contact us today for more information...
Location
State FL
County Pinellas
Community Highland Groves
Interior
Interior Features Master Bedroom Main Floor, Solid Wood Cabinets
Heating Electric
Cooling Central Air, Wall/Window Unit(s)
Fireplace false
Exterior
Exterior Feature Lighting, Sidewalk, Storage
Utilities Available Cable Connected, Electricity Connected, Public, Sewer Connected, Street Lights, Water Connected
Waterfront false
Roof Type Shingle
Attached Garage false
Garage false
Private Pool No
Building
Foundation Slab
Lot Size Range 0 to less than 1/4
Sewer Public Sewer
Water Public
Structure Type Block
New Construction false
Construction Status Appraisal,Financing,Inspections
Others
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash, Conventional, Other
Listing Terms Cash, Conventional, Other
Special Listing Condition None
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© 2024 My Florida Regional MLS DBA Stellar MLS. All Rights Reserved.
Bought with NEW ACRE REALTY
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