$2,899,999 Multifamily for Sale — 1132 Auburn St, Clearwater, FL 33756, USA

1132 Auburn St, Clearwater, FL 33756, USA

Summary

This is a multifamily property for sale at 1132 Auburn St, Clearwater, FL 33756, USA, listed at $2,899,999. The property has 15 units, 12,036 square feet, built in 1981. Financials show net operating income of $202,917, a 7.0% cap rate, gross income of $295,056 based on seller figures. This deal offers creative financing.

Key facts

Asking price: $2,899,999
Property type: Multifamily
Cap rate: 7.0%
NOI: $202,917
Gross income: $295,056
Occupancy: 100%
Price / unit: $193,333
Expense ratio: 30.2%
Units: 15
Building SF: 12,036
Lot (acres): 0.95
Year built: 1981
Zoning: RM-15

Description

Desirable Clearwater location just minutes from the Missouri Ave Business District, Largo schools, and public transportation. This property features a strong unit mix of nine 1-bedroom and six 2-bedroom apartments across one- and two-story concrete block concrete buildings. The complex offers 24 parking spaces, a guest laundry room, and a large rear yard with value-add potential. The expansive backyard provides an excellent opportunity to generate additional income through boat and RV storage. Historically 100% occupied, this property has demonstrated consistent performance. The current owner has renovated several units, including tile flooring upgrades and updated A/C systems. Major capital improvements include a brand-new roof (2024) and a new fire alarm system servicing the entire complex. Solid block construction, strong rental history, and additional income potential make this a compelling investment in one of Clearwater’s most accessible and growing corridors.