$895,000 Multifamily for Sale — 1548 S Missouri Ave, Clearwater, FL 33756, USA

1548 S Missouri Ave, Clearwater, FL 33756, USA

Summary

This is a multifamily property for sale at 1548 S Missouri Ave, Clearwater, FL 33756, USA, listed at $895,000. The property has 6 units, 4,621 square feet, built in 1954. Financials show net operating income of $73,647, a 8.2% cap rate, gross income of $115,908 based on seller figures.

Key facts

Asking price: $895,000
Property type: Multifamily
Cap rate: 8.2%
NOI: $73,647
Gross income: $115,908
Occupancy: 100%
Price / unit: $149,167
Expense ratio: 36.5%
Units: 6
Building SF: 4,621
Lot (acres): 0.47
Year built: 1954
Zoning: CG

Description

Excellent opportunity to acquire a well-located mixed-use parcel consisting of five multifamily units and one commercial space, offering strong in-place income with additional upside potential through operational efficiencies and interior upgrades. The property at 1540–1548 S. Missouri Avenue includes (2) 1-bedroom/1-bathroom units, (1) studio unit, and (1) commercial space, while 1172 Howard Street consists of (2) 2-bedroom/1-bathroom units, both of which feature new kitchens, bathrooms, and windows. Both buildings feature block construction, separate water and electric meters, and have new roofs installed within the past year, minimizing near-term capital expenditures.