$3,400,000
Active · 22 days on market · MLS# MFRA4697854
| Living area | 13,056 sq ft |
|---|---|
| Lot size | 0.53 acres |
| Year built | 1973 |
| Property type | Multi-Family 5+ |
| Waterfront | Yes |
| Annual taxes | $27,093 |
| County | Pinellas |
Kings Court Apartments - an 18-unit value-add multifamily asset in central Clearwater, minutes from downtown and the Gulf beaches and directly across from Clearwater Country Club. The mix is seven 1BD/1BA and eleven 2BD/1BA in a two-story CBS garden-style building. Major capital is already in place: a 40-year TPO roof installed within the last ~3 years, newer HVAC across most units, copper wiring, and a resurfaced lot - the next owner's capital goes into interiors, not systems. In-place rents (avg ~$1,366) sit well below a renovated pro forma (~$1,694), with staggered 2026-27 lease expirations offering a turn-by-turn mark-to-market path supported by a comp set averaging ~$1,676. Trailing NOI ~$220K; pro forma ~$242K. Laundry and RUBS utility reimbursement add income. Tours by appointment through Rider RE only - please do not disturb tenants.
Listing courtesy of William Gryboski, G&R REAL ESTATE BROKERAGE, LLC. Presented by MC Homes Realty Inc · 727432218.