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The Bluffs Place & Tiffany Manor Apt 551 Mehlenbacher Rd 18 Unit Apartment Building $3,600,000 ($200,000/Unit) Belleair Bluffs, FL 33770
Investment Highlights
- 18-Unit Multifamily Portfolio – Two Adjacent Properties
- Seller Financing Considered
- Lease-Up Opportunity with Immediate Cash-Flow Potential
- Completed Renovation Program (2025–2026)
- High-Demand Belleair Bluffs Location
- Ideal 1031 Exchange Replacement
Executive Summary
Offered for sale is an 18-unit multifamily portfolio located in the highly desirable Belleair Bluffs submarket of Pinellas County. The portfolio consists of two adjacent garden-style communities totaling 18 units.
The property recently underwent significant post-storm improvements, including new roofs on all buildings, and leasing has just resumed. Eleven of the twelve units at Bluff’s Place were fully renovated in 2026, with the remaining unit occupied and presenting future upside. Tiffany Manor includes three units renovated in 2026 and three additional units renovated in recent years.
In-place rents are below market, providing a clear value-add opportunity through stabilization. Seller financing is considered with attractive interest-only terms and no DSCR requirement. Ideal for a local cash buyer or 1031 exchange seeking upside in a premier coastal location.
Asking Price: $3,600,000 ($200,000 per unit).
The property recently underwent significant post-storm improvements, including new roofs on all buildings, and leasing has just resumed. Eleven of the twelve units at Bluff’s Place were fully renovated in 2026, with the remaining unit occupied and presenting future upside. Tiffany Manor includes three units renovated in 2026 and three additional units renovated in recent years.
In-place rents are below market, providing a clear value-add opportunity through stabilization. Seller financing is considered with attractive interest-only terms and no DSCR requirement. Ideal for a local cash buyer or 1031 exchange seeking upside in a premier coastal location.
Asking Price: $3,600,000 ($200,000 per unit).
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Property Facts
Amenities
Site Amenities
- Laundry Facilities
- Trash Pickup - Curbside
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $1,295 | 425 |
| 1+1 | 9 | $1,595 | 600 - 640 |
| 2+1 | 4 | $1,895 | 780 |
| 2+2 | 4 | $1,895 | 910 - 990 |
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Property Taxes
| Parcel Numbers | Improvements Assessment | $1,150,400 | |
| Land Assessment | $654,600 | Total Assessment | $1,805,000 |
Property Taxes
Parcel Numbers
Land Assessment
$654,600
Improvements Assessment
$1,150,400
Total Assessment
$1,805,000
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Presented by
tracey R Brunetto
The Bluffs Place & Tiffany Manor Apt | 551 Mehlenbacher Rd
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