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20837006
20836996

885 Beltrees St, Dunedin, FL 34698

Lombardo Team Real Estate LLC
NN
FL 3512752
Real Broker
Listed by Lombardo Team Real Estate LLC, Real Broker
$3,550,000
556 days on market
Updated 48 days ago

Beltrees

Details
Property Type Multifamily
Sub Type Apartment Building
Units 16
Cap Rate 4.99%
NOI $177,000
Occupancy 100%
Pro-Forma Cap Rate 7.18%
Pro-Forma NOI $255,000
Class B
Year Built 1967
Year Renovated 2024
Buildings 4
Stories 1
Lot Size (SqFt) 8,836
Zoning NSM-1
Parking Spaces per unit
Investment Type Value Add
Ground Lease No

Dunedin 16-Unit | Cash Flow + Potential STR Zoning Near Honeymoon Island

Marketing description

885 Beltrees Street | 16 Units | Dunedin, FL

885 Beltrees Street has been repositioned and reintroduced to the market at a new price of $3,550,000, offering a compelling opportunity for investors seeking both stable in-place income and potential upside.

The property is currently operating as a fully occupied, cash-flowing long-term rental, with 12 of the 16 units renovated. Constructed with durable block concrete and not located in a flood zone, the asset provides a strong operational foundation.

What differentiates this opportunity is its location.

Situated just minutes from downtown Dunedin, known for its walkable charm, breweries, and waterfront, and in close proximity to Honeymoon Island, Caladesi Island, and Clearwater Beach, the property is positioned within one of Tampa Bay’s most active tourism corridors.

Based on current understanding, the property appears to be located within a zoning area that allows short-term rentals, which is uncommon in Dunedin. This creates a unique opportunity for investors to continue operating as a stabilized long-term rental while exploring potential hospitality-driven upside.

Buyer to independently verify all zoning, permitted use, and short-term rental regulations with the City of Dunedin.

Additional upside includes the potential to add an on-site laundry facility for increased ancillary income.

Investment highlights

  1. 16 Units | 12 Renovated
  2. Fully Occupied | Cash-Flowing LTR
  3. Block Construction
  4. Not Located in Flood Zone
  5. Minutes to Downtown Dunedin
  6. Close to Honeymoon Island, Caladesi & Clearwater Beach
  7. Potential STR Zoning Area (Buyer to Verify)
  8. Value-Add: Laundry Income Opportunity

Listing Contacts

Lombardo Team Real Estate LLC
NN
FL 3512752
Real Broker
Listed by Lombardo Team Real Estate LLC, Real Broker

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$177,000.00
$14,750.00/mo

Valuation Metrics

0
DSCR
4.99%
Cap Rate
4.99%
ROI

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Additional Information

Name
Katelyn Robideaux
License
3528036
Brokerage
Lombardo Team LLC
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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