Pinellas Single Family Home Portfolio

Pinellas County Single-Family Rental Portfolio
We are pleased to present a unique investment opportunity to acquire a portfolio of 18 single-family homes and 3 duplexes (21 total units) located in the highly desirable Pinellas County, Florida, spanning from Clearwater to St. Petersburg. This portfolio offers exceptional stability and immediate cash flow with all properties currently leased to long-term tenants.
Portfolio Highlights:
-Total Units: 21 (18 parcels, 18 single-family homes, 3 duplexes)
-Occupancy: 100% long-term tenants
-Rental Income: Current rents range from $1,895 to $3,075 per month, with significant potential for rent increases to match higher market rates.
-Utilities: All properties are connected to city water and sewer. Tenants are responsible for their own utilities, minimizing operational expenses.
-Condition & Maintenance: Seven homes feature new roofs, and all HVAC systems are maintained by the current owner, a professional in HVAC repair and maintenance.
-Insurance: Basic home and liability insurance in place; no flood insurance required as none of the properties are located in flood zones.
-Market Advantage: No flood risk in Pinellas County is a rare and valuable feature, offering peace of mind and reducing holding costs.
Investment Upside:
-Value-Add Potential: Current rents are below market value, providing an investor with the opportunity to raise rents to market levels, increasing cash flow and overall ROI.
-Renovation & Sale Opportunity: Renovating the homes could unlock top-of-market rents or allow for individual property sales at a premium, as the portfolio is priced below the aggregated market value of the homes.
-Management: The properties are easy to manage with minimal operational expenses, contributing to strong net returns.
Financial Overview:
Asking Price: $4,800,000
Cap Rate: greater than 7.5% (including a 5% economic vacancy factor)
Expenses: Low ongoing expenses with no flood insurance required
Why This Portfolio:
This is a rare chance to acquire a high-performing rental portfolio in one of Florida's hottest real estate markets. The absence of flood zone properties, coupled with strong rents and potential for further appreciation, makes this an attractive, low-risk investment. With properties in close proximity to each other, management is streamlined, and the portfolio offers immediate equity and cash flow upside.
Don't miss this exceptional opportunity to secure a diversified rental portfolio in the thriving Pinellas County market.