6% Cap Rate Quadplex in Clearwater! – Opportunity to Increase Rents and Add Value!

Quick Summary

Purchase Price
$725,000
Capitalization Rate
6.0%
Cash on Cash Return
2.2%
Total Return on Investment
20.1%

1465 Laura Street, Clearwater, FL 33755

5 beds
4 baths
2,660 sqft
  • I recommend using a cash-for-keys strategy to pay for the current tenants to move out, so you can do some minor cosmetic rehab and increase rents to market rate.
  • One of the 1/1 units is already at market rate.
  • Exceptional opportunity to acquire a stable, well-maintained, and turnkey quadruplex in a highly desired area near downtown Clearwater.
  • This concrete block construction building includes three 1/1’s and one 2/1.
  • Except for Unit 2, the other three units are at below market rents (with Unit 4 being month-to-month and the lease for Unit 1 ending 3/31/24).
  • Additional features include: individual central A/C for each unit, screened front porches, outdoor storage closets, a common area laundry room (currently unused), and separate electric meters for each unit.
  • There is only a single water meter.
  • Photos shown include interior ones for Units 1 and 2, but all four units are similarly maintained.
  • A passing four-point inspection report is available, as is a wind mitigation.
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