1115 Wyatt St | Clearwater, FL 33756
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- LoopNet Team
1115 Wyatt St
Clearwater, FL 33756
Wyatt Springs Apartments · Multifamily Property For Sale
·
19 Units
INVESTMENT HIGHLIGHTS
- Significant value-add potential priced at just $39K/ per unit, offering strong upside through renovations and repositioning.
- In a prime location situated in a Non-Flood Zone (Zone X), just 10 minutes from Clearwater Beach.
- Vintage construction comprised of six buildings built between 1940 and 1954, totaling 19 units (10 non-conforming) on nearly 1 acre.
- Attractive projected returns: Year 1–2 CAP Rate of 10.31%–12.09% and Cash-on-Cash Return of 13.86%–19.71%, inclusive of CapEx budget.
- There is expansion and amenity potential as the ample land area provides opportunity to add community amenities.
- There is utility upgrade opportunity as the property currently utilizes well water, but three City water line hookups were previously installed.
PROPERTY FACTS
| No. Units | 19 | Lot Size | 1.00 AC |
| Property Type | Multifamily | Building Size | 6,025 SF |
| Property Subtype | Apartment | Average Occupancy | 84% |
| Apartment Style | Garden | No. Stories | 1 |
| Building Class | B | Year Built/Renovated | 1949/1973 |
| Zoning | R-4 - one, two, and three family residential | ||
| No. Units | 19 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 1.00 AC |
| Building Size | 6,025 SF |
| Average Occupancy | 84% |
| No. Stories | 1 |
| Year Built/Renovated | 1949/1973 |
| Zoning | R-4 - one, two, and three family residential |
PROPERTY TAXES
| Parcel Number | 27-29-15-00000-240-1500 | Improvements Assessment | $237,475 |
| Land Assessment | $287,525 | Total Assessment | $525,000 |
PROPERTY TAXES
Parcel Number
27-29-15-00000-240-1500
Land Assessment
$287,525
Improvements Assessment
$237,475
Total Assessment
$525,000
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