Key West Village | 1502 N Fort Harrison Ave
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Key West Village 1502 N Fort Harrison Ave
6 Unit Block of Flats £1,408,410 (£234,735/Unit) 6.02% Net Initial Yield Clearwater, FL 33755
Investment Highlights
- Two of six units are single family homes
- Situated in Pinellas County, Florida’s most densely populated county
- Short bike ride or drive to Gulf of Mexico and world-renowned Clearwater Beach, named TripAdvisor’s “#1 Beach in the U.S.” in 2018 and 2019
- Tenants pay all utilities directly to municipalities
- Walking distance to Downtown Clearwater, The Sound at Coachman Park and Bilheimer Capitol Theatre
- Two miles to Morton Plant Hospital, a 613-bed medical center with ER
Executive Summary
Six turn-key luxury multifamily units in Clearwater, Florida adjacent to rapidly-growing Clearwater Marina District, just north of Downtown Clearwater, with $1-billion in planned developments. Significant upside potential with a 41% increase in Effective Gross Income possible by end of Year Two through conversion to short-term rental in five units situated in commercial zoning. Recent Class ‘A’ unit interior renovations throughout, including new granite countertops with undermount sinks, new shaker cabinetry with soft-close doors and drawers, new stainless-steel appliances, including dishwashers and built-in microwaves, new washer/dryer appliances, and new flooring, fixtures and lighting.
Financial Summary (Pro forma - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | £1,408,410 | Apartment Style | Single Family Home |
| Price Per Unit | £234,735 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.08 AC |
| Net Initial Yield | 6.02% | Building Size | 4,480 SF |
| No. Units | 6 | Number of Floors | 1 |
| Property Type | Residential | Year Built | 1940 |
| Property Subtype | Apartment |
| Price | £1,408,410 |
| Price Per Unit | £234,735 |
| Sale Type | Investment |
| Net Initial Yield | 6.02% |
| No. Units | 6 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Single Family Home |
| Building Class | C |
| Lot Size | 0.08 AC |
| Building Size | 4,480 SF |
| Number of Floors | 1 |
| Year Built | 1940 |
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 4 | £1,397 | 590 |
| 2+1 | 2 | £2,085 | 1,060 |
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Key West Village | 1502 N Fort Harrison Ave
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