1604 Osceola AveClearwater, FL 33755

Property Details for 1604 Osceola Ave

Year built

1925

Lot size

0.17 AC

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a six-unit apartment building located at 1604 North Osceola Avenue in Clearwater, Florida, 33755. The property, built in 1925, comprises two buildings, each two stories high, offering a total of 3,851 square feet of net rentable space. Sitting on a 0.17-acre lot (APN: 09-29-15-55530-000-0290), this property is zoned LMDR. Currently generating a NOI of $66,290, resulting in a 5.10% cap rate, the property offers significant upside potential with a pro-forma NOI of $95,003 and a pro-forma cap rate of 7.01%. The asking price is $1,300,000, translating to $216,666.67 per unit. Its prime location in Pinellas County, adjacent to the rapidly expanding Clearwater Marina District, places it within walking distance of Downtown Clearwater, The Sound at Coachman Park, and the Bilheimer Capitol Theatre. Furthermore, it's a short distance from the Gulf of Mexico and Clearwater Beach, renowned for its beauty. Proximity to Morton Plant Hospital, a major medical center, adds to its appeal. Detailed financial information is available upon request. This property presents a compelling investment opportunity in a thriving Florida market.

Location Insight

City

Clearwater

County

Pinellas

State

Florida

Latitude

27.9816

Longitude

-82.7978

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