1105 S Prospect Avenue, Clearwater, FL 33756

Description

** INCOME OPPORTUNITY! ** Tucked away on a private street in the historic Clearwater area of Magnolia Heights, this 4-plex is a great opportunity for the savvy investor! 2 buildings with 2 units in each building. Standard concrete block duplex (built 1969) up front with a couple of 2-bedroom/1-bath units with 567 sf. Each unit has a kitchen, living room, and 2 bedrooms sharing a bathroom. Modest units with tile floors that could use a little TLC. Both are currently rented on month-month leases at $800 and $780/month with the tenant paying the utilities. This building has newer central air units and a 2020 dimensional shingle roof! So the big ticket items are taken care of. These units rent extremely fast and could probably have a maximum rent capability of $1,000/month! The other building to the back is a 2-story wood frame duplex (built 1925) that is undergoing an exterior renovation that includes an all new stucco finish! This building also a new (2020) dimensional shingle roof and newer central air! The downstairs unit is 1-bedroom/1-bath with 540 sf of living area that again need s a little TLC inside. The rent for this downstairs unit is currently just $475/month with potential for much higher! A separate staircase takes you to the final unit, a renovated studio efficiency with 475 sf and updated kitchen, flooring, paint, and bathroom! This refinished apartment is also currently leased for $665/month. All 4-units are occupied and the total rent currently is $2,720/month! Most of these tenants are on month-to-month leases with a potential for much higher future rents! The lot is fenced with a small grassy play area and newer (2020) paved parking. IMPORTANT: DO NOT DISTURB THE TENANTS (Hit show button for showing instructions)