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Key Details
Sold Price $410,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Square Footage 2,149 sqft
Price per Sqft $190
Subdivision Magnolia Heights
MLS Listing ID U8141600
Sold Date 01/10/22
Construction Status No Contingency
HOA Y/N No
Year Built 1969
Annual Tax Amount $2,283
Lot Size 6,098 Sqft
Acres 0.14
Lot Dimensions 50x125
Property Description
** INCOME OPPORTUNITY! ** Tucked away on a private street in the historic Clearwater area of Magnolia Heights, this 4-plex is a great opportunity for the savvy investor! 2 buildings with 2 units in each building. Standard concrete block duplex (built 1969) up front with a couple of 2-bedroom/1-bath units with 567 sf. Each unit has a kitchen, living room, and 2 bedrooms sharing a bathroom. Modest units with tile floors that could use a little TLC. Both are currently rented on month-month leases at $800 and $780/month with the tenant paying the utilities. This building has newer central air units and a 2020 dimensional shingle roof! So the big ticket items are taken care of. These units rent extremely fast and could probably have a maximum rent capability of $1,000/month! The other building to the back is a 2-story wood frame duplex (built 1925) that is undergoing an exterior renovation that includes an all new stucco finish! This building also a new (2020) dimensional shingle roof and newer central air! The downstairs unit is 1-bedroom/1-bath with 540 sf of living area that again need s a little TLC inside. The rent for this downstairs unit is currently just $475/month with potential for much higher! A separate staircase takes you to the final unit, a renovated studio efficiency with 475 sf and updated kitchen, flooring, paint, and bathroom! This refinished apartment is also currently leased for $665/month. All 4-units are occupied and the total rent currently is $2,720/month! Most of these tenants are on month-to-month leases with a potential for much higher future rents! The lot is fenced with a small grassy play area and newer (2020) paved parking. IMPORTANT: DO NOT DISTURB THE TENANTS (Hit show button for showing instructions)
Location
State FL
County Pinellas
Community Magnolia Heights
Interior
Interior Features Ninguno
Heating Central, Electric
Cooling Central Air
Flooring Tile
Fireplace false
Appliance Range, Refrigerator
Laundry Outside
Exterior
Exterior Feature Fence
Garage Common, Open
Utilities Available Electricity Connected
Waterfront false
Roof Type Shingle
Parking Type Common, Open
Garage false
Private Pool No
Building
Entry Level One
Foundation Slab
Lot Size Range 0 to less than 1/4
Sewer Public Sewer
Water Public
Structure Type Block,Stucco,Wood Frame
New Construction false
Construction Status No Contingency
Others
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition None
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