1379 S MARTIN LUTHER KING JR AVENUE

For sale Days on market 56

$449,000

$280/sq ft

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Overview

Bedroom

Year Built

1940

Sqft

1603

Property Type

Triplex

Property Description

Triplex Investment Opportunity in a prime location between downtown Clearwater and Belleair This rare triplex presents a cash flow opportunity for investors. Conveniently situated between downtown Clearwater and Belleair, the property boasts a superb location facing Lake Belleview and is directly across from Ross Norton Recreation Center and Ed C. Wright Park. A short drive will take you to some of the best beaches in the US at Clearwater, Belleair Beach, Indian Rocks Beach to name a few. The triplex is currently fully rented and ready for a new owner to benefit from its steady income with a CAP rate of ~8.7 calculated with the current rents, expenses and the asking price. It consists of three separate units: • Unit 1: 3 bedrooms, 1 bathroom — currently leased and occupied at $1,700 per month. • Unit 2: 2 bedrooms, 1 bathroom — leased and occupied at $1,800 per month. This unit has been recently remodeled. • Unit 3: Studio — leased at $1,100 per month. Recent Property Updates • Roof replaced in 2021 • A/C replaced in 2021 Contact your agent today to schedule a showing! Appointment Only ***Do Not Disturb Tenants**

Property Details

MLS#

TB8447196

Address

1379 MARTIN LUTHER KING JR S

City

Clearwater

State/county

Zip/Postal Code

33756

Area

Lakeview Heights

Country

United States

HOA

Assoc Fee

$--

Assoc Fee Pd

Tax Amount

$7,484

Maint Fee

$--

Tax Year

2024

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