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Midfield Clearwater Portfolio 1295 Santa Rosa Dr 34 Unit Apartment Building $5,720,000 ($168,235/Unit) 6.62% Cap Rate Clearwater, FL 33756
Investment Highlights
- Renovated unit interiors
- Washer/dryer connections in 14 of 34 units
- 3 contiguous parcels
- Concrete block construction and significant recent capital expenditures
- 3 miles to Clearwater Beach
- Adjacent to SR-60, offering convenient access to a majority of area employment and entertainment
Executive Summary
The Midfield Clearwater Portfolio is a 34-unit, 3-property, garden-style multifamily community located in the heart of Clearwater, Florida. Adjacent to SR-60, offering convenient access to a majority of area employment and entertainment options. The properties are less than 3 miles to major demand drivers like world-renowned Clearwater Beach and Bay Care Morton Plant Hospital (687 beds).
A new investor can benefit from significant recent capex and property improvements, such as doors, windows, water heaters, AC units, electric panels and more. Additionally, the properties boast 41% 2-3 bedroom units, and 41% in-unit washer/dryer connections. It is recommended that a new owner pass back the water, sewer, and trash expenses via submetering. Water-shutoff valves are accessible for all units with laundry connections.
A new investor can benefit from significant recent capex and property improvements, such as doors, windows, water heaters, AC units, electric panels and more. Additionally, the properties boast 41% 2-3 bedroom units, and 41% in-unit washer/dryer connections. It is recommended that a new owner pass back the water, sewer, and trash expenses via submetering. Water-shutoff valves are accessible for all units with laundry connections.
Data Room Click Here to Access
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
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-
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| Other Income |
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-
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| Vacancy Loss |
-
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-
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| Effective Gross Income |
-
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-
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| Net Operating Income |
$99,999
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$9.99
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Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $5,720,000 | Apartment Style | Garden |
| Price Per Unit | $168,235 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.72 AC |
| Cap Rate | 6.62% | Building Size | 27,408 SF |
| Sale Condition | Bulk/Portfolio Sale | Average Occupancy | 91% |
| No. Units | 34 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1973 |
| Property Subtype | Apartment |
| Price | $5,720,000 |
| Price Per Unit | $168,235 |
| Sale Type | Investment |
| Cap Rate | 6.62% |
| Sale Condition | Bulk/Portfolio Sale |
| No. Units | 34 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.72 AC |
| Building Size | 27,408 SF |
| Average Occupancy | 91% |
| No. Stories | 2 |
| Year Built | 1973 |
Amenities
Unit Amenities
- Balcony
- Dishwasher
- Washer/Dryer
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | - | 750 |
| 2+1 | 10 | - | 1,000 |
1 1
Moderately walkable
60/100
Moderately drivable
60/100
Some public transit
40/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 15-29-15-38574-015-0370 | Improvements Assessment | $1,344,441 |
| Land Assessment | $755,559 | Total Assessment | $2,100,000 |
Property Taxes
Parcel Number
15-29-15-38574-015-0370
Land Assessment
$755,559
Improvements Assessment
$1,344,441
Total Assessment
$2,100,000
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Midfield Clearwater Portfolio | 1295 Santa Rosa Dr
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