111 N LADY MARY DRIVE at

111 N LADY MARY DRIVE

For sale Days on market 37

$3,400,000

$260/sq ft

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Overview

Year Built

1973

Sqft

13056

Property Type

Multi Family (5+)

Property Description

Under contract-accepting backup offers. Kings Court Apartments - an 18-unit value-add multifamily asset in central Clearwater, minutes from downtown and the Gulf beaches and directly across from Clearwater Country Club. The mix is seven 1BD/1BA and eleven 2BD/1BA in a two-story CBS garden-style building. Major capital is already in place: a 40-year TPO roof installed within the last ~3 years, newer HVAC across most units, copper wiring, and a resurfaced lot - the next owner's capital goes into interiors, not systems. In-place rents (avg ~$1,366) sit well below a renovated pro forma (~$1,694), with staggered 2026-27 lease expirations offering a turn-by-turn mark-to-market path supported by a comp set averaging ~$1,676. Trailing NOI ~$220K; pro forma ~$242K. Laundry and RUBS utility reimbursement add income. Tours by appointment through Rider RE only - please do not disturb tenants.

Property Details

MLS#

A4697854

Total Floor in Bldg

Address

111 LADY MARY N

City

Clearwater

State/county

Zip/Postal Code

33755

Area

Brookwood Terrace Rev

Country

United States

HOA

Yes

Assoc Fee

$--

Assoc Fee Pd

Tax Amount

$27,093

Maint Fee

$--

Tax Year

2025

Refrigerator

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