149-155 New York Ave 6 Unit Apartment Building $1,325,000 ($220,833/Unit) 7.46% Cap Rate Dunedin, FL 34698

Exceptional opportunity to own a fully occupied six-unit multifamily property in the heart of one of Pinellas County's most desirable communities. Located at 149–155 New York Avenue in Dunedin, this rare investment opportunity consists of three separate duplexes situated on a generously sized parcel just minutes from downtown Dunedin, the Pinellas Trail, Honeymoon Island, Clearwater Beach, TD Ballpark, marinas, restaurants, breweries, shopping, and entertainment.
The property features approximately 4,440 square feet of living space and offers a highly desirable unit mix consisting of two two-bedroom, two-bath units, two two-bedroom, one-bath units, and two one-bedroom, one-bath units. The property is 100% occupied and has a proven history of strong rental demand, making it an excellent opportunity for investors seeking immediate cash flow, long-term appreciation, or both.
Extensive renovations have been completed throughout the property within the past six months. Improvements include new glue-down luxury vinyl plank flooring throughout all units, new kitchen cabinetry, updated countertops and fixtures, newer appliances installed between 2025 and 2026, updated bathrooms, and fresh interior paint throughout. Four of the units feature granite countertops. The exterior was professionally painted in 2025, recent tree trimming and site improvements have been completed, and the property has been proactively maintained with no known deferred maintenance.
Additional features include on-site coin-operated laundry, favorable wind mitigation characteristics, multiple HVAC systems replaced between 2021 and 2022, updated water heaters throughout the property, including a new installation in 2024, separately metered electric and water services, and minimal anticipated near-term capital expenditures. Situated within Flood Zone X, the property offers investors additional peace of mind while benefiting from a highly desirable location and strong demand fundamentals.
Positioned within the city's MF-15 multifamily zoning district, this turnkey investment provides a unique opportunity to acquire a stabilized income-producing asset in a location that continues to experience strong demand and limited inventory. Residents enjoy convenient access to waterfront parks, golf courses, medical facilities, major employment centers, downtown Clearwater, Palm Harbor, Tampa, and St. Petersburg, while also benefiting from Dunedin's vibrant coastal atmosphere and walkable lifestyle.
This is a rare opportunity to acquire a well-maintained multifamily asset in one of Tampa Bay's most sought-after markets. Financial information, lease information, and additional property details are available upon request. All measurements, zoning information, rental information, and future land-use possibilities should be independently verified by the buyer. Showings are by appointment only. Please do not disturb tenants.