$380,000 • living size area 2219 sqft

The san remo apartments, offered separately or as one of a three-property portfolio (also in clearwater at 1455 laura st, and 1483-89 pierce st) are situated in the quiet glenwood neighborhood, a short walk to popular crest lake park (currently undergoing $5.7 million renovation to be complete in 2020), and just minutes to clearwater beach, and the lively cleveland street district. consisting of a two-story duplex (separately metered for electric paid by tenants, with owner paying water/sewer/trash) and adjacent two-bedroom ranch home (tenant pays all utilities), the property features an expansive corner lot, new roofs in 2019 with r-30 insulation, upgraded a/c, on-site laundry, ample parking, and additional storage. rents are $867 and $1,290 with a one-year minimum term lease. pro-forma real estate taxes are estimated based on the offer price. the property has historically been 100% occupied, and is projected to operate on an owner-managed basis with total expenses of approximately 35% of egi. san remo apartments – separately or with laura st / pierce st apartments – represents a unique opportunity to acquire a well-managed and maintained income-producing multifamily property near crest lake park, and minutes to clearwater beach. current, stable income with expectation of minimal near-term capex requirements compliment prospects for long-term asset value appreciation.

Multi Family - HIGHLAND GROVES

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