Listed by Marcus & Millichap - RPH Multifamily Group
$2,325,000
309-312 Avanda Court
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 9,800
Net Rentable (SqFt) 9,800
Units 14
Cap Rate 5.87%
NOI $136,453
Pro-Forma Cap Rate 7.27%
Pro-Forma NOI $176,993
Price per SqFt $237
Year Built 1968
Buildings 3
Acreage 0.410
Zoning D
14 Units in Clearwater
Marketing description
OFFERING MEMORANDUM AND FINANCIALS AVAILABLE VIA ‘Due Diligence’ BUTTON.
Please reach out to Zach Brown ([email protected]) to discuss the deal.
Investment highlights
- Renovated 14-unit apartment community ideally positioned in the rapidly revitalizing Downtown Clearwater submarket
- Desirable unit mix consisting primarily of spacious two-bedroom/one-and-a-half-bathroom floor plans
- Significant value-add opportunity to increase Effective Gross Income by approximately 23% through light interior renovations and bringing below-market rents to current market levels
- Flexible revenue stream with one unit currently operating as a successful Airbnb, providing the option to continue short-term rental operations or convert to a traditional annual lease
- Concrete block construction across all three residential buildings
- Attractive combination of in-place cash flow and operational upside, creating an opportunity for immediate income with meaningful future appreciation potential
- Less than one mile from Downtown Clearwater, offering walkable access to Cleveland Street’s restaurants, breweries, shopping, entertainment and the city’s expanding waterfront district
- Approximately 8 minutes from Clearwater Beach, one of Florida’s premier Gulf Coast destinations, supporting a strong local employment base and year-round housing demand
- Convenient access to US-19, Gulf-to-Bay Boulevard (SR-60), Alt US-19, and Interstate 275, allowing residents to quickly commute throughout Clearwater, St. Petersburg, Tampa and the greater Tampa Bay MSA
- Located minutes from the $84 million Imagine Clearwater redevelopment, including the new Coachman Park and BayCare Sound waterfront entertainment venue, which continue to drive investment, tourism and long-term growth throughout Downtown Clearwater
Listing Contacts
Listed by Marcus & Millichap - RPH Multifamily Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$136,453.00
$11,371.08/mo
Valuation Metrics
0
DSCR
5.87%
Cap Rate
5.87%
ROI
Map
Zoning
D CommercialCore CommercialDowntown
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View all 77 uses Last updated Jun 23, 2026 For deeper zoning details, reports are available at Zoneomics
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