8-Unit Apartment Building
For Sale
$1,995,000
1114 1116 1118 1120&1128 WYATT STREET, Largo, FL 33756
MULTI_FAMILY - LARGO, FL
Property Size7,736 SF
Lot Size1.97 Acres
Price / SF$257.89
Days on Market1090
Property Features for 1114 1116 1118 1120&1128 WYATT STREET
General Information
Property type
Residential Multi Family
Property subtype
Other
Bathrooms
49
Full bathrooms
49
Rooms
Bathroom 4, Bathroom 3, Bathroom 23, Bathroom 36, Bathroom 8, Bathroom 41, Bathroom 15, Bathroom 46, Bathroom 47, Bathroom 14, Bathroom 40, Bathroom 37, Bathroom 44, Bathroom 22, Bathroom 17, Bathroom 6, Bathroom 33, Bathroom 34, Bathroom 35, Bathroom 30, Bathroom 29, Bathroom 18, Bathroom 27, Bathroom 31, Bathroom 13, Bathroom 1, Bathroom 10, Bathroom 20, Bathroom 11, Bathroom 19, Bathroom 43, Bathroom 21, Bathroom 24, Bathroom 12, Bathroom 38, Bathroom 2, Bathroom 48, Bathroom 32, Bathroom 7, Bathroom 28, Bathroom 39, Bathroom 49, Bathroom 25, Bathroom 16, Bathroom 5, Bathroom 42, Bathroom 26, Bathroom 9, Bathroom 45
Interior features
Thermostat, Walk-In Closet(s)
Directions
Missouri Ave. West on Wyatt Street
Subdivision
33756 - Clearwater/Belleair
Standard status
Active
APN
PID #272915 000002100400, PID # 272915000002100500
Size
7,736 SF
Lot size
1.97 Acres
Taxes and HOA fees
Tax Year
2022
Tax Description
PART OF NW 1/4 OF SEC 27-29-15 DESC AS FROM SW COR OF NE 1/4 OFNW 1/4 OF SEC TH E 230FT,PART OF NW 1/4 OF SEC 27-29-15 DESC AS FROM SW COR OF NE 1/4 OFNW 1/4 OF SEC TH E,PART OF NW 1/4 OF SEC 27-29-15,DESC AS FROM SW COR OF NE 1/4 OF NW 1/4 OF SEC TH E 335FT,BEG 20FT N & 470FT E OF SW COR OF NE 1/4 OF NW 1/4 TH N 260FT TH E 87.5FT TH S 260FT TH W,PART OF NW 1/4 OF SEC 27-29-15 DESC AS FROM SW 1/4 OF NE 1/4 OFNW 1/4 OF SEC TH N 20FT
Tax Annual Amount
14146
Legal Description
PART OF NW 1/4 OF SEC 27-29-15 DESC AS FROM SW COR OF NE 1/4 OFNW 1/4 OF SEC TH E 230FT,PART OF NW 1/4 OF SEC 27-29-15 DESC AS FROM SW COR OF NE 1/4 OFNW 1/4 OF SEC TH E,PART OF NW 1/4 OF SEC 27-29-15,DESC AS FROM SW COR OF NE 1/4 OF NW 1/4 OF SEC TH E 335FT,BEG 20FT N & 470FT E OF SW COR OF NE 1/4 OF NW 1/4 TH N 260FT TH E 87.5FT TH S 260FT TH W,PART OF NW 1/4 OF SEC 27-29-15 DESC AS FROM SW 1/4 OF NE 1/4 OFNW 1/4 OF SEC TH N 20FT
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Central Air
Building Details
Year built
1969
Number of units
8
Building materials
Block, Metal Siding, Stucco, Frame, Wood Siding
Roof type
Built-Up
Listing Agency:
EQUITY PRO REALTY
(727) 442-6800
Listed By:
Frank Aggio · License #3082880
(727) 410-3684
Added: Aug 14, 2023
Changed: Aug 1
Last Checked: Aug 7 at 11:06PM
MLS# U8210455
Copyright © 2026 Pinellas Suncoast Association of REALTORS®, Inc. 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 offering is a multi-property apartment building package totaling 8 rental units across five adjacent properties at 1114, 1116, 1118, 1120 and 1128 Wyatt Street. The package sits on 1.97 acres more or less and totals 7,665 square feet more or less of combined heated space, with approximately 319 feet of combined frontage on Wyatt St. The unit mix is described as follows: 1114 and 1116 each as single-family homes; 1118 as two single-family homes (2 units); 1120 as one single-family home plus a duplex with 2 units (3 units total); and 1128 as one single-family home (1 unit).
The property is located on the border of the City of Clearwater and the City of Largo in Pinellas County. Heating is electric, and cooling is provided by central air. Construction materials include block, stucco, frame, wood siding, and metal siding, with a built-up roof, and the utilities include public sewer. Interior features include thermostats and walk-in closets.
All tenants are on leases except the unit at 1116, which is on a month-to-month arrangement. The offering is being marketed as suitable for a 1031 exchange, and prospective buyers should verify all measurements and financials.
The property is located on the border of the City of Clearwater and the City of Largo in Pinellas County. Heating is electric, and cooling is provided by central air. Construction materials include block, stucco, frame, wood siding, and metal siding, with a built-up roof, and the utilities include public sewer. Interior features include thermostats and walk-in closets.
All tenants are on leases except the unit at 1116, which is on a month-to-month arrangement. The offering is being marketed as suitable for a 1031 exchange, and prospective buyers should verify all measurements and financials.
Key Highlights
- Package includes 8 rental units across 5 adjacent properties at 1114, 1116, 1118, 1120 & 1128 Wyatt Street
- 1.97 acres more or less with combined 319 ft frontage on Wyatt St
- Combined heated area totals 7,665 SF more or less
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
$71,149
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
3.57%
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%
$1,422,980
$1.4M
Cap Rate 7%
$1,016,414
$1.0M
Cap Rate 9%
$790,544
$790.5K
Market Conditions
NOI Build-Up for 7,736 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
$139.2K $18.00/SF
− Vacancy
−$9.9K −$1.28/SF
EGI
$129.4K $16.72/SF
− OpEx
−$58.2K −$7.52/SF
NOI
$71.1K $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%
$1,422,980
Cap Rate 7%
$1,016,414
Cap Rate 9%
$790,544
Alternative Uses
Best Use
Apartment 5plus
$1.02M
$889.4K – $1.19M
NOI $71,149 @ 7.0% cap · market cap 3.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.01M
$1.76M – $2.35M
NOI $140,854 @ 7.0% cap · market cap 7.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
1,139
Businesses Nearby
Explore this area
Business Placement
Demographics for 33756, FL
31,807
Population
15,474
Households
2.1
Avg Household Size
48
Median Age
30%
College-Educated
91%
High-School Grad
7.2 sq mi
ZIP Area
4,418
Density / Sq Mi
$63,990
Median Household Income
$38,563
Median Earnings
$1,382
Median Rent
$335,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Eight rental units across five adjacent properties on Wyatt Street with central air and electric heat, built in 1969.
Where is this apartment building located?
The property is located at 1114 1116 1118 1120&1128 WYATT STREET Largo, FL.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Package includes 8 rental units across 5 adjacent properties at 1114, 1116, 1118, 1120 & 1128 Wyatt Street; 1.97 acres more or less with combined 319 ft frontage on Wyatt St; Combined heated area totals 7,665 SF more or less
