Log In/Sign Up
Your email has been sent.
Melrose on the Bay 16321 Bolesta Rd 358 Unit Apartment Building For Sale Clearwater, FL 33760
Investment Highlights
- $6.7M in CapEX Improvements including all new roofs
- Value-Add Potential - Majority of units with original interiors
- Assumable Freddie Mac Loan: 35-year amortization, ~72% LTV, 5.10% interest rate
- 358-Unit Garden-Style Community - Concrete Block - 65% Two Bedrooms
- 93.8% T12 occupancy, $1,518 avg. rent, 4.7% T12 Net Rental Income growth
- All units have washer and dryers
Executive Summary
358-unit garden-style community on 36.2 acres near the Bayside Bridge and Feathersound Business District in Clearwater, Florida. Built in 1987, concrete block, offering one-, two-, and three-bedroom floor plans averaging 884 sq. ft., all with in-unit washer and dryer. Trailing 12-month occupancy is 93.8%. More than $6.7M in CapEx Improvements have been invested into the property, including all new roofs. The community features a swimming pool, sundeck with games, two playgrounds, a dog park, a bike share, a putting green, Amazon Hub lockers, a fitness center, and more.
Property Facts
| Sale Type | Investment | Lot Size | 36.20 AC |
| No. Units | 358 | Building Size | 396,822 SF |
| Property Type | Multifamily | Average Occupancy | 94% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1986/1993 |
| Building Class | B | Parking Ratio | 1.7/1,000 SF |
| Zoning | RPD5 - Residential Planned Development | ||
| Sale Type | Investment |
| No. Units | 358 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 36.20 AC |
| Building Size | 396,822 SF |
| Average Occupancy | 94% |
| No. Stories | 2 |
| Year Built/Renovated | 1986/1993 |
| Parking Ratio | 1.7/1,000 SF |
| Zoning | RPD5 - Residential Planned Development |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Washer/Dryer Hookup
- Ceiling Fans
- Granite Countertops
- Refrigerator
- Range
- Views
- Framed Mirrors
- Island Kitchen
- Vinyl Flooring
- Wheelchair Accessible (Rooms)
- Large Bedrooms
Site Amenities
- Courtyard
- Fitness Center
- Laundry Facilities
- Playground
- Pool
- Waterfront
- Breakfast/Coffee Concierge
- Grill
- Pet Play Area
- Putting Greens
- Maintenance on site
- Pond
- Sundeck
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 125 | - | 750 |
| 2+1 | 84 | - | 900 |
| 2+2 | 113 | - | 950 |
| 3+2 | 36 | - | 1,100 |
1 1
Property Taxes
| Parcel Number | 33-29-16-70380-100-0600 | Improvements Assessment | $27,777,150 |
| Land Assessment | $11,322,850 | Total Assessment | $39,100,000 |
Property Taxes
Parcel Number
33-29-16-70380-100-0600
Land Assessment
$11,322,850
Improvements Assessment
$27,777,150
Total Assessment
$39,100,000
1 of 32
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
Melrose on the Bay | 16321 Bolesta Rd
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.