Log In/Sign Up
Your email has been sent.
Auburn Flats 1132 Auburn St 15 Unit Apartment Building $3,050,000 ($203,333/Unit) 6.48% Cap Rate Clearwater, FL 33756
Executive Summary
Auburn Flats: well-maintained 15-unit multifamily complex in a highly desirable Clearwater location just minutes from the Missouri Ave Business District, Largo schools, and public transportation. This property features a strong unit mix of nine 1-bedroom and six 2-bedroom apartments across one- and two-story concrete block/stucco buildings.
The complex offers 24 parking spaces, a guest laundry room, and a large rear yard with value-add potential. The expansive backyard provides an excellent opportunity to generate additional income through boat and RV storage.
Historically 100% occupied, this property has demonstrated consistent performance. The current owner has renovated several units, including tile flooring upgrades and updated A/C systems. Major capital improvements include a brand-new roof (2024) and a new fire alarm system servicing the entire complex.
Solid block construction, strong rental history, and additional income potential make this a compelling investment in one of Clearwater’s most accessible and growing corridors.
Annual Income - 305,028
Expenses - 107,369
NOI - $197,658
The complex offers 24 parking spaces, a guest laundry room, and a large rear yard with value-add potential. The expansive backyard provides an excellent opportunity to generate additional income through boat and RV storage.
Historically 100% occupied, this property has demonstrated consistent performance. The current owner has renovated several units, including tile flooring upgrades and updated A/C systems. Major capital improvements include a brand-new roof (2024) and a new fire alarm system servicing the entire complex.
Solid block construction, strong rental history, and additional income potential make this a compelling investment in one of Clearwater’s most accessible and growing corridors.
Annual Income - 305,028
Expenses - 107,369
NOI - $197,658
Property Facts
| Price | $3,050,000 | Building Class | C |
| Price Per Unit | $203,333 | Lot Size | 1.01 AC |
| Sale Type | Investment | Building Size | 14,464 SF |
| Cap Rate | 6.48% | Average Occupancy | 100% |
| No. Units | 15 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1981/2025 |
| Property Subtype | Apartment | Parking Ratio | 1.66/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | RM-15, County - Residential Low Rise Multifamily/Medium Density District | ||
| Price | $3,050,000 |
| Price Per Unit | $203,333 |
| Sale Type | Investment |
| Cap Rate | 6.48% |
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.01 AC |
| Building Size | 14,464 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1981/2025 |
| Parking Ratio | 1.66/1,000 SF |
| Zoning | RM-15, County - Residential Low Rise Multifamily/Medium Density District |
Amenities
Unit Amenities
- Kitchen
- Oven
- Range
- Tub/Shower
1 1
Property Taxes
| Parcel Number | 27-29-15-00000-240-1600 | Improvements Assessment | $1,263,866 |
| Land Assessment | $571,134 | Total Assessment | $1,835,000 |
Property Taxes
Parcel Number
27-29-15-00000-240-1600
Land Assessment
$571,134
Improvements Assessment
$1,263,866
Total Assessment
$1,835,000
1 of 6
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
Auburn Flats | 1132 Auburn St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.