212-214 S HIGHLAND AVE Clearwater, FL 33755
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,064 sqft
Price per Sqft $581
Subdivision Boulevard Heights
MLS Listing ID O6321854
Bedrooms 5
Construction Status Completed
HOA Y/N No
Year Built 1952
Annual Tax Amount $6,650
Lot Size 0.350 Acres
Acres 0.35
Lot Dimensions 83x110
Property Sub-Type Triplex
Source Stellar MLS
Property Description
Presenting a rare opportunity to acquire a high-potential triplex nestled on an expansive 15,033 sq ft corner lot in the highly sought-after Downtown Gateway area of Clearwater. This property offers immense promise for both investors seeking immediate returns or developers with an eye for future growth. Zoned to allow for the development of up to 7-8 additional units, this is an outstanding canvas for expansion or redevelopment.
The Property:
This distinctive triplex features three unique units, each with its own character and considerable income-generating potential.
Unit 214B: A spacious 2-bedroom, 1.5-bath residence showcasing beautiful hardwood floors throughout, a generous master suite with a walk-in closet, and a charming bonus room with a cozy fireplace—perfect for a game room or home office. This unit rents for $2,500/month.
Unit 212: A well-designed 1-bedroom, 1-bath unit with separate electric and water meters, offering flexibility for long-term tenants ($1600) or short-term rental opportunities. Ideal for an Airbnb or VRBO investment, with the potential to generate up to $2,000/month.
Unit 214A: An efficiency/studio unit with a full bath, previously generating up to $2,200/month on Airbnb/VRBO. or Longterm rental for $1300 (Please note: Clearwater enforces a minimum 30-day rental restriction.)
Also The property has availability for RV and jet ski parking to generate up to $2500 monthly creating a NOI of $82,600 and Cap rate of 6.8%
While the property may require some TLC, it is brimming with potential. With shared utilities between Units 214A and 214B and independent meters for Unit 212, the layout is well-suited for various rental models.
Additional Highlights:
Central A/C in the 2-bedroom unit (installed in 2004), complemented by a mix of central and window units throughout.
Roof replaced in 2017, ensuring peace of mind for the next owner.
Detached storage shed/workshop on the vacant portion of the lot—an excellent space for additional storage or project use.
Developer's Dream:
Situated in Clearwater's Downtown Gateway district, this property is zoned for up to 35 units per acre, which opens the door to potential development for up to 10 residential units (buyer to verify with the city). Whether you envision expanding the multifamily footprint or redeveloping for a larger project, this is a prime opportunity to capitalize on Clearwater's growing demand for residential space.
Don't Miss Out:
This is a rare investment opportunity in a flourishing area with excellent upside potential. Whether you're looking for strong cash flow from current tenants or a high-potential development project, this property checks all the boxes. Confirm zoning, building codes, and permitting requirements with the City to ensure a seamless transition to your next vision.
Location
State FL
County Pinellas
Community Boulevard Heights
Area 33755 - Clearwater
Interior
Interior Features Ceiling Fans(s), Primary Bedroom Main Floor
Heating Electric
Cooling Central Air, Wall/Window Unit(s)
Flooring Wood
Fireplaces Type Masonry
Fireplace true
Appliance Refrigerator
Laundry None
Exterior
Exterior Feature Fence
Utilities Available Electricity Connected, Sewer Connected, Water Connected
View Garden
Roof Type Shingle
Garage false
Private Pool No
Building
Entry Level One
Foundation Crawlspace, Stem Wall
Lot Size Range 1/4 to less than 1/2
Sewer Public Sewer
Water Public
Structure Type Frame
New Construction false
Construction Status Completed
Schools
Elementary Schools Skycrest Elementary-Pn
Middle Schools Oak Grove Middle-Pn
High Schools Clearwater High-Pn
Others
Pets Allowed Yes
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash, Conventional, FHA
Listing Terms Cash, Conventional, FHA
Special Listing Condition None
Virtual Tour https://www.propertypanorama.com/instaview/stellar/O6321854
