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Clearwater Beach Cottages 638-644 Mandalay Ave 11 Unit Apartment Building $6,900,000 ($627,273/Unit) Clearwater, FL 33767
INVESTMENT HIGHLIGHTS
- Prime location for tourists and vacation rentals
- Redevelopment opportunity
- Steps to the beach - no roads to cross
EXECUTIVE SUMMARY
Price Reduction! Discover a unique opportunity to own three desirable parcels of land on stunning Clearwater Beach, a premier tourist destination renowned for its beautiful white-sand beaches and vibrant atmosphere. This prime location boasts high demand for vacation rentals, making it an ideal investment for those looking to capitalize on the flourishing rental market or scoop up land for a development. Spanning a total of 0.30 acres, the property currently features 11 well-maintained rental units, comprising a charming 5-unit apartment building, two inviting duplexes, and two standalone cottages. Each unit offers a cozy retreat for guests, enhanced by sought-after amenities such as a relaxing hot tub and a communal outdoor space that encourages socializing and relaxation. Situated just 100 steps from the beach, this property is perfectly positioned for vacationers, being a mere 6 blocks north of the iconic Pier 60, and only 3 blocks from the beloved Frenchy’s Rockaway. Guests will enjoy easy access to sun-soaked shores, lively entertainment, and delicious dining options. Notably, this property was untouched during the 2024 hurricane season, ensuring peace of mind for future owners. With the potential for further development on the expansive 0.30 acres, this is an exciting opportunity for investors to enhance or expand the existing rental portfolio or create a brand-new venture that could meet the ever-growing demand for accommodations in this bustling tourist hotspot. Clearwater Beach, Florida, is renowned for its stunning white sandy shores and crystal-clear waters, making it a prime destination for beach lovers. Voted America's Best Beach multiple times, it boasts a vibrant atmosphere with a variety of dining, shopping, and recreational activities. Visitors can enjoy long walks on the beach, morning jogs on the Beach Walk, water sports, and stunning sunsets, all contributing to its reputation as a top vacation spot. Don’t miss out on this rare chance to invest in a thriving market on Clearwater Beach—where every day feels like a vacation! Contact us today to learn more about this incredible property and the possibilities it holds.
PROPERTY FACTS
| Price | $6,900,000 | Apartment Style | Low-Rise |
| Price Per Unit | $627,273 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.26 AC |
| No. Units | 11 | Building Size | 7,326 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1944 |
| Zoning | T - Commercial, tourism | ||
| Price | $6,900,000 |
| Price Per Unit | $627,273 |
| Sale Type | Investment |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.26 AC |
| Building Size | 7,326 SF |
| No. Stories | 2 |
| Year Built | 1944 |
| Zoning | T - Commercial, tourism |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Grill
- Deck
- Garden
- Patio
- Porch
SITE AMENITIES
- 24 Hour Access
- Courtyard
- Smoke Free
- Public Transportation
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 2+1 | 5 | - | - |
| 3+1 | 2 | - | - |
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $711,542 | |
| Land Assessment | $1,933,458 | Total Assessment | $2,645,000 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,933,458
Improvements Assessment
$711,542
Total Assessment
$2,645,000
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Clearwater Beach Cottages | 638-644 Mandalay Ave
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