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The Standard at 2690 2690 Drew St 456 Unit Apartment Building For Sale Clearwater, FL 33759
Investment Highlights
- 456-unit multifamily community located in Clearwater, Florida
- 160 of 456 flood units were affected, full interior gut down to the studs on all 160 units.
- Presents a strong, clear path value-add opportunity for an investor to complete renovations and stabilize operationscon
- Concrete block construction - year built 1973/2025
- Experienced a one-time municipal stormwater flooding event in Oct 2024; City has fully repaired the system, property is not in a flood zone
Executive Summary
456-unit multifamily community located in Clearwater, Florida. The Property experienced a one-time municipal stormwater flooding event in Oct 2024 from Hurricane Milton; the City has fully repaired the system, and the property is not in a flood zone. Currently, 160 units are under complete repair and renovation, including full system upgrades and installation of impact-rated windows/doors. This opportunity presents a strong value-add opportunity for an investor to complete renovations and stabilize operations.
Upon renovation and lease-up, the asset offers significant upside and best-in-submarket quality potential.
Upon renovation and lease-up, the asset offers significant upside and best-in-submarket quality potential.
Property Facts
| Sale Type | Investment | Lot Size | 19.89 AC |
| No. Units | 456 | Building Size | 43,628 SF |
| Property Type | Multifamily | Average Occupancy | 72% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1973/2025 |
| Building Class | B | Parking Ratio | 9.17/1,000 SF |
| Zoning | MHDR, Clearwater - Medium High Density Residential | ||
| Sale Type | Investment |
| No. Units | 456 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 19.89 AC |
| Building Size | 43,628 SF |
| Average Occupancy | 72% |
| No. Stories | 2 |
| Year Built/Renovated | 1973/2025 |
| Parking Ratio | 9.17/1,000 SF |
| Zoning | MHDR, Clearwater - Medium High Density Residential |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Storage Space
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Tile Floors
- Eat-in Kitchen
- Kitchen
- High Speed Internet Access
- Refrigerator
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
- Dining Room
- Loft Layout
- Vinyl Flooring
- Wheelchair Accessible (Rooms)
- Window Coverings
Site Amenities
- Business Center
- Clubhouse
- Fitness Center
- Laundry Facilities
- Picnic Area
- Playground
- Pool
- Property Manager on Site
- Spa
- Tennis Court
- Car Wash Area
- Grill
- Lounge
- Maintenance on site
- Sundeck
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 120 | - | 720 |
| 2+1.5 | 33 | - | 992 |
| 2+2 | 78 | - | 992 |
| 3+2 | 32 | - | 1,171 |
| 3+2 | 32 | - | 1,229 |
| 2+1.5 | 161 | - | 992 |
Property Taxes
| Parcel Number | 08-29-16-00000-330-0100 | Improvements Assessment | $28,463,297 |
| Land Assessment | $9,636,703 | Total Assessment | $38,100,000 |
Property Taxes
Parcel Number
08-29-16-00000-330-0100
Land Assessment
$9,636,703
Improvements Assessment
$28,463,297
Total Assessment
$38,100,000
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The Standard at 2690 | 2690 Drew St
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