1379 S MARTIN LUTHER KING JR AVENUE Clearwater, FL 33756
Triplex - CLEARWATER, FL
Property Features for 1379 S MARTIN LUTHER KING JR AVENUE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Triplex
- Bedrooms
- 5
- Rooms
- Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
- Standard status
- Active
- APN
- 22-29-15-48978-006-0080
- Size
- 1,603 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 7644.13
Utilities
- Heating system
- Electric (Heating)
Building Details
- Year built
- 1940
- Number of units
- 3
- Building materials
- Frame
- Roof type
- Shingle
- Architectural style
- Other
Listing agent Jim McPeak License #472936 (813) 495-3875
Listing office MCPEAK REAL ESTATE FIRM 9014 Hirsch Court, Bradon, FL (813) 495-3875
Listing date Jun 7, 2026
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property is located in Clearwater, Florida, on S Martin Luther King Jr Avenue, with Lake Bellevue across the street. Directly opposite the property are Ross Norton Recreation Center and Ed C. Wright Park, providing easy access to outdoor and recreation amenities.
For buyers seeking a straightforward income residential property, the current unit mix supports a range of renter needs, from a studio to larger family-style living. Both the 3-bedroom and 2-bedroom units are leased, with the 2-bedroom unit noted as recently remodeled. The seller also notes tenant occupied status, so showings must be coordinated to avoid disturbing tenants.
Key Highlights
- Triplex with 3 units: 3/1, 2/1, and a studio
- Unit 1 (3 bed/1 bath) leased and occupied at $1,850 per month
- Unit 2 (2 bed/1 bath) leased and occupied at $1,800 per month; recently remodeled
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $33.7k | $21.00 |
| − Vacancy | −$2.1k | −$1.30 |
| EGI | $31.6k | $19.70 |
| − OpEx | −$9.5k | −$5.91 |
| NOI | $22.1k | $13.79 |
