Listed by Colliers - Tampa, Florida
$3,600,000
1295 Santa Rosa
Details
APN 15-29-15-38574-015-0370
Property Type Multifamily
Sub Type Apartment Building
Square Footage 16,872
Net Rentable (SqFt) 16,872
Units 20
Cap Rate 6.52%
NOI $234,798
Occupancy 96%
Pro-Forma Cap Rate 6.79%
Pro-Forma NOI $244,264
Class B
Year Built 1973
Year Renovated 2023
Buildings 1
Stories 2
Acreage 0.300
Parking Spaces spaces
Investment Type Value Add
1295 Santa Rosa Street, Clearwater, FL 33756
Marketing description
1295 Santa Rosa is a garden-style multifamily community located in the heart of Clearwater, Florida. Adjacent to SR-60, offering convenient access to a majority of area employment and entertainment options. The property is less than 3 miles to major demand drivers like world-renowned Clearwater Beach and Bay Care Morton Plant Hospital (687 beds).
A new investor can benefit from significant recent CapEx and property improvements, such as new roof, doors, windows, water heaters, AC units, electric panels and more. Additionally, the property boast 40% 2-3 bedroom units. It is recommended that a new owner pass back the water, sewer, and trash expenses via submetering or RUBS.
Investment highlights
- Value-add opportunity
- New roof
- New water heaters and HVAC systems
- Highly desirable unit mix
- Recent interior renovations with 50% new windows and sliding glass doors
- 3 miles to Clearwater Beach
- Less than 2 miles to Morton Plant Hospital with approximately 687 beds
- Adjacent to SR-60, offering convenient access to a majority of area employment and entertainment
- High demand rental market
Listing Contacts
Listed by Colliers - Tampa, Florida
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$234,798.00
$19,566.50/mo
Valuation Metrics
0
DSCR
6.52%
Cap Rate
6.52%
ROI
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