621 E St
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621 E St
4 Unit Apartment Building Offered at $525,000 at a 9.42% Cap Rate in Clearwater, FL 33756
Investment Highlights
- 100% Leased
- Professionally Managed
- Renovated w/ Value Add Components
Executive Summary
Lakeview Lofts | 100% Occupied! Professionally managed. Not in a flood zone. Currently leased @ $5,875/month. Unit mix features (1) main home and (3) studio units. Updates throughout, new roof in 2016. Located in a phenomenal location with easy access to the area's best attractions, restaurants, and entertainment.
Cost Analysis Performed as Rental Property
In:
Rent - $70,500.00
Out:
(Annual) Property Taxes - $4,344.30
(Annual) Estimated Insurance - $2,401.00
(Annual) Property Management (Optional) - $5,640.00
(Annual) Estimated Utilities/Lawn/Repair/Misc. - $8,640.00
Total Costs - $21,025.30
Net: $49,474.70
Earn:
Total yearly net equates to - $49,474.70
Total monthly gross equates to - $5,875.00
TOTAL MONTHLY NET EQUATES TO - $4,122.89
Cost Analysis Performed as Rental Property
In:
Rent - $70,500.00
Out:
(Annual) Property Taxes - $4,344.30
(Annual) Estimated Insurance - $2,401.00
(Annual) Property Management (Optional) - $5,640.00
(Annual) Estimated Utilities/Lawn/Repair/Misc. - $8,640.00
Total Costs - $21,025.30
Net: $49,474.70
Earn:
Total yearly net equates to - $49,474.70
Total monthly gross equates to - $5,875.00
TOTAL MONTHLY NET EQUATES TO - $4,122.89
Property Facts
| Price | $525,000 | Property Type | Multifamily |
| Price Per Unit | $131,250 | Lot Size | 0.23 AC |
| Sale Type | Investment | Building Size | 2,500 SF |
| Cap Rate | 9.42% | No. Stories | 1 |
| No. Units | 4 | Year Built/Renovated | 1946/2024 |
| Price | $525,000 |
| Price Per Unit | $131,250 |
| Sale Type | Investment |
| Cap Rate | 9.42% |
| No. Units | 4 |
| Property Type | Multifamily |
| Lot Size | 0.23 AC |
| Building Size | 2,500 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1946/2024 |
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zoning
| Zoning Code | MDR (Medium Density Residential, (15) Units Per Acre) |
| MDR (Medium Density Residential, (15) Units Per Acre) |
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Kurt Westfield -
Blue Peak Realty
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621 E St
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