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Midfield Pinellas Portfolio 5 Multifamily Properties Offered at $10,400,000 in Multiple Locations
INVESTMENT HIGHLIGHTS
- Turn-key asset
- Highly desirable unit mix
- Concrete block construction
- Value-add opportunity
- 3 contiguous parcels with a 4th 400 ft away in Clearwater
EXECUTIVE SUMMARY
The Midfield Clearwater Portfolio is a 54-unit, 5-property, garden-style multifamily community located in Pinellas County, Florida. Adjacent to SR-60, or US-19, offering convenient access to a majority of area employment and entertainment options. The properties are in close proximity to major demand drivers like world-renowned Clearwater Beach, the Tarpon Sponge Docks and Bay Care Morton Plant Hospital (687 beds).
A new investor can benefit from significant recent CapEx and property improvements, such as doors, windows, water heaters, AC units, electric panels and more. Additionally, the properties boast 63% 2-3 bedroom units, and 63% in-unit washer/dryer connections. It is recommended that a new owner pass back the water, sewer, and trash expenses via sub-metering. Water-shutoff valves are accessible for all units with laundry connections.
It is recommended that a new owner pass back the water, sewer, and trash expense via sub-metering and improve rental rates through renewals and turns.
A new investor can benefit from significant recent CapEx and property improvements, such as doors, windows, water heaters, AC units, electric panels and more. Additionally, the properties boast 63% 2-3 bedroom units, and 63% in-unit washer/dryer connections. It is recommended that a new owner pass back the water, sewer, and trash expenses via sub-metering. Water-shutoff valves are accessible for all units with laundry connections.
It is recommended that a new owner pass back the water, sewer, and trash expense via sub-metering and improve rental rates through renewals and turns.
DATA ROOM Click Here to Access
- Offering Memorandum
- Operating and Financials
- Miscellaneous
TAXES & OPERATING EXPENSES (ACTUAL - 2025) Click Here to Access |
ANNUAL |
|---|---|
| Gross Rental Income |
$99,999
|
| Other Income |
$99,999
|
| Vacancy Loss |
$99,999
|
| Effective Gross Income |
$99,999
|
| Taxes |
-
|
| Operating Expenses |
-
|
| Total Expenses |
$99,999
|
| Net Operating Income |
$99,999
|
TAXES & OPERATING EXPENSES (ACTUAL - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Taxes | |
|---|---|
| Annual | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
PROPERTY FACTS
| Price | $10,400,000 | Status | Active |
| Price / SF | $213.03 / SF | Number of Properties | 5 |
| Sale Condition | Bulk/Portfolio Sale | Individually For Sale | 0 |
| Cap Rate | 6.26% | Total Building Size | 48,820 SF |
| Sale Type | Investment | Total Land Area | 1.93 AC |
| Price | $10,400,000 |
| Price / SF | $213.03 / SF |
| Sale Condition | Bulk/Portfolio Sale |
| Cap Rate | 6.26% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 5 |
| Individually For Sale | 0 |
| Total Building Size | 48,820 SF |
| Total Land Area | 1.93 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
Westchester Apartments
1295 Santa Rosa Dr, Clearwater, FL 33756 |
Multifamily | 20,960 SF | 1973 | - |
| 1285 Santa Rosa St, Clearwater, FL 33756 | Multifamily | 5,656 SF | 1970 | - |
| 1279 Santa Rosa St, Clearwater, FL 33756 | Multifamily | 5,544 SF | 1973 | - |
| 1259 Franklin St, Clearwater, FL 33756 | Multifamily | 4,116 SF | 1964 | - |
|
St Michaels Apts
501 Saint Michaels Way, Tarpon Springs, FL 34689 |
Multifamily | 12,544 SF | 1986 | - |
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Midfield Pinellas Portfolio
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