1379 S MARTIN LUTHER KING JR AVE Clearwater, FL 33756
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Square Footage 1,603 sqft
Price per Sqft $280
Subdivision Lakeview Heights
MLS Listing ID TB8447196
Bedrooms 5
HOA Y/N No
Year Built 1940
Annual Tax Amount $7,484
Lot Size 5,227 Sqft
Acres 0.12
Lot Dimensions 50x103
Property Sub-Type Triplex
Source Stellar MLS
Property Description
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**
Location
State FL
County Pinellas
Community Lakeview Heights
Area 33756 - Clearwater/Belleair
Interior
Interior Features Other
Heating Electric
Cooling Central Air, Wall/Window Unit(s)
Fireplace false
Laundry None
Exterior
Exterior Feature Other
Community Features Street Lights
Roof Type Shingle
Garage false
Private Pool No
Building
Foundation Pillar/Post/Pier
Lot Size Range 0 to less than 1/4
Sewer Public Sewer
Water Public
Structure Type Frame
New Construction false
Others
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition None
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