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Multifamily

407 South Jupiter Avenue

407 S Jupiter Ave, Clearwater, FL 33755

Listing Price: $1,120,000

Cap Rate
5.88%
Number of Units
11
Price/Unit
$101,818
Price/Gross SF
$328.45
Gross SF
3,410

Investment Overview

11-unit multifamily community in Clearwater, FL (Tampa Bay MSA)

Investment Highlights

  • Turn-key property with approximately $100,000 in recent renovations
  • New roof in November 2020, new exterior windows, mini-split AC's, paint and landscaping
  • All unit interiors have been renovated with new flooring, appliances, paint, lighting, plumbing fixtures, cabinetry and countertops
  • $170 per unit per month up-side available over average in-place rents
  • Proven ability to increase gross rents 13.7% through elimination of in-place loss-to-lease
  • Four miles to Clearwater Beach, voted best beach in the U.S. (TripAdvisor 2018 & 2019)
  • 1.9 miles to Fred Marquis Pinellas Trail with approximately one million annual users

Exclusively Listed By

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

Listing Price: $1,120,000

Cap Rate
5.88%
Number of Units
11
Price/Unit
$101,818
Price/Gross SF
$328.45
Gross SF
3,410

Investment Highlights

  • Turn-key property with approximately $100,000 in recent renovations
  • New roof in November 2020, new exterior windows, mini-split AC's, paint and landscaping
  • All unit interiors have been renovated with new flooring, appliances, paint, lighting, plumbing fixtures, cabinetry and countertops
  • $170 per unit per month up-side available over average in-place rents
  • Proven ability to increase gross rents 13.7% through elimination of in-place loss-to-lease
  • Four miles to Clearwater Beach, voted best beach in the U.S. (TripAdvisor 2018 & 2019)
  • 1.9 miles to Fred Marquis Pinellas Trail with approximately one million annual users

Investment Overview

11-unit multifamily community in Clearwater, FL (Tampa Bay MSA)

Exclusively Listed By

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

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