Six-Unit Renovated Apartment
For Sale
$1,325,000
153 NEW YORK Avenue, Dunedin, FL 34698
Residential Income, DUNEDIN, FL
Property Size4,440 SF
Lot Size0.47 Acres
Price / SF$298.42
Days on Market41
Property Features for 153 NEW YORK Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
10
Bathrooms
8
Full bathrooms
8
Rooms
Bedroom 7, Bedroom 6, Bedroom 8, Bedroom 4, Bedroom 2, Bathroom 4, Bathroom 2, Bedroom 5, Bathroom 6, Bedroom 1, Bathroom 3, Bathroom 7, Bathroom 1, Family Room, Bedroom 10, Bathroom 8, Bedroom 3, Bedroom 9, Bathroom 5
Parking features
Guest, Off Street, Oversize, Driveway
Patio and Porch features
Porch, Patio
Pets allowed
Yes
Interior features
Ceiling Fans(s), Eat-in Kitchen, High Ceilings, Kitchen/Family Room Combo, Open Floorplan, Thermostat
Exterior features
Lighting
Appliances
Electric Water Heater, Range, Refrigerator
Subdivision
ACREAGE
Lot features
City Limits, In County, Irregular Lot, Level, Near Golf Course, Near Marina, Near Public Transit, Paved
Elementary school
Dunedin Elementary-PN
Middle school
Dunedin Highland Middle-PN
High school
Dunedin High-PN
Directions
Go west on Main st (580), left on Keene Rd, Right on union st, right on New York Ave, Destination on your right
Standard status
Active
APN
35-28-15-00000-320-0200
Size
4,440 SF
Lot size
0.47 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
W 170FT OF S 1/4 OF NW 1/4 OF SW 1/4 OF SEC 35-28-15 LESS N 120FT & LESS S 97FT THEREOF
Tax Annual Amount
10932
Legal Description
W 170FT OF S 1/4 OF NW 1/4 OF SW 1/4 OF SEC 35-28-15 LESS N 120FT & LESS S 97FT THEREOF
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central, Ductless (Heating)
Cooling system
Wall/Window Unit(s), Central Air, Window Unit(s)
Water source
Public
Amenities
on-site coin-operated laundry
Building Details
Year built
1968
Floors in Building
1
Number of units
6
Flooring type
Vinyl
Building materials
Block
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
CHARLES RUTENBERG REALTY INC
(727) 538-9200
Listed By:
Lance Willard LLC · License #3384517
(727) 487-1894
Added: Jul 26
Changed: Sep 3
Last Checked: Sep 4 at 7:06AM
MLS# TB8532775
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.
This 1968 apartment property comprises three duplex buildings with six units and approximately 4,440 square feet of living area. The unit mix includes two two-bedroom, two-bath residences, two two-bedroom, one-bath residences, and two one-bedroom, one-bath residences. Recent work includes luxury vinyl plank flooring, kitchen cabinetry, countertops, fixtures, updated bathrooms, and interior paint. Four units have granite countertops, while appliances were installed between 2025 and 2026. Exterior painting was completed in 2025, and multiple HVAC systems were replaced between 2021 and 2022.
The 0.47-acre property at 153 New York Avenue in Dunedin is fully occupied and located near downtown Dunedin, the Pinellas Trail, Honeymoon Island, Clearwater Beach, TD Ballpark, marinas, restaurants, breweries, shopping, and entertainment. The site is within Flood Zone X and the city's MF-15 multifamily zoning district.
Additional features include coin-operated laundry, separately metered electric and water services, public water and sewer, off-street parking, patios and porches, updated water heaters including a 2024 installation, block construction, and a shingle roof.
The 0.47-acre property at 153 New York Avenue in Dunedin is fully occupied and located near downtown Dunedin, the Pinellas Trail, Honeymoon Island, Clearwater Beach, TD Ballpark, marinas, restaurants, breweries, shopping, and entertainment. The site is within Flood Zone X and the city's MF-15 multifamily zoning district.
Additional features include coin-operated laundry, separately metered electric and water services, public water and sewer, off-street parking, patios and porches, updated water heaters including a 2024 installation, block construction, and a shingle roof.
Key Highlights
- Six‑unit multifamily property with approximately 4,440 square feet of living space
- Unit mix includes two 2‑bedroom, 2‑bath; two 2‑bedroom, 1‑bath; and two 1‑bedroom, 1‑bath units
- 0.47‑acre parcel at 153 New York Avenue in Dunedin, FL 34698
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$40,835
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.08%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$816,700
$816.7K
Cap Rate 7%
$583,357
$583.4K
Cap Rate 9%
$453,722
$453.7K
Market Conditions
NOI Build-Up for 4,440 SF
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.
Gross rent
$79.9K $18.00/SF
− Vacancy
−$5.7K −$1.28/SF
EGI
$74.2K $16.72/SF
− OpEx
−$33.4K −$7.52/SF
NOI
$40.8K $9.20/SF
Area
Pinellas County, FL
Vacancy
7.10%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$816,700
Cap Rate 7%
$583,357
Cap Rate 9%
$453,722
Alternative Uses
Best Use
Apartment 5plus
$583.4K
$510.4K – $680.6K
NOI $40,835 @ 7.0% cap · market cap 3.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.15M
$1.01M – $1.35M
NOI $80,842 @ 7.0% cap · market cap 6.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
631
Businesses Nearby
Explore this area
Business Placement
Demographics for 34698, FL
38,010
Population
22,016
Households
1.7
Avg Household Size
56
Median Age
36%
College-Educated
95%
High-School Grad
11.2 sq mi
ZIP Area
3,394
Density / Sq Mi
$67,323
Median Household Income
$44,747
Median Earnings
$1,571
Median Rent
$335,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied multifamily property with refreshed interiors, separate utilities, on-site laundry, and MF-15 zoning.
Where is this apartment building located?
The property is located at 153 NEW YORK Avenue Dunedin, FL.
What is the asking price?
The asking price for this property is $1,325,000.
What are key features of this property?
This property features: Six‑unit multifamily property with approximately 4,440 square feet of living space; Unit mix includes two 2‑bedroom, 2‑bath; two 2‑bedroom, 1‑bath; and two 1‑bedroom, 1‑bath units; 0.47‑acre parcel at 153 New York Avenue in Dunedin, FL 34698
