Renovated Downtown Clearwater
For Sale
$795,000
1259 Franklin St, Clearwater, FL 33756
Income-producing fourplex with updated interiors, varied bedroom layouts, laundry hookups, storage, and assigned parking.
Property Size3,278 SF
Price / SF$242.53
Days on Market56
Property Features for 1259 Franklin St
General Information
Standard status
Active
Size
3,278 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$11,611
Amenities
interior laundry hookups
exterior storage
assigned parking
pet-friendly
Building Details
Buildings
1
Listing Agency:
EXP REALTY LLC
(888) 883-8509
Listed By:
Patricia Birkenshaw · License #SL3381860
(727) 686-6047
Source:
Exprealty
Added: Aug 28
Changed: Oct 15
Last Checked: Oct 21 at 2:28AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXP REALTY LLC
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Investment Insights
Based on property information with market context.
This renovated fourplex contains four approximately 1,000-square-foot units with a combination of two- and three-bedroom layouts. Interior improvements include refreshed kitchens with stone countertops and new cabinetry, updated bathrooms, and fresh paint. Three units have interior laundry hookups and exterior storage, while every unit includes assigned parking. The property is pet-friendly and positioned in Downtown Clearwater near Cleveland Street.
The location is minutes from Clearwater Beach, shopping, and hospitals, with Tampa International Airport approximately 30 minutes away. Downtown surroundings include planned and ongoing dining, retail, and entertainment investment. The property is presented as an income-producing residential asset with a mix of renovated unit configurations and practical resident amenities.
The location is minutes from Clearwater Beach, shopping, and hospitals, with Tampa International Airport approximately 30 minutes away. Downtown surroundings include planned and ongoing dining, retail, and entertainment investment. The property is presented as an income-producing residential asset with a mix of renovated unit configurations and practical resident amenities.
Key Highlights
- Four approximately 1,000 SF units with 2- and 3‑bedroom layouts
- Renovated kitchens with stone countertops and new cabinetry
- Updated bathrooms and fresh paint throughout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,213
Cap Rate
5.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$904,260
$904.3K
Cap Rate 7%
$645,900
$645.9K
Cap Rate 9%
$502,367
$502.4K
Market Conditions
NOI Build-Up for 3,278 SF
Gross rent
$68.8K $21.00/SF
− Vacancy
−$4.2K −$1.30/SF
EGI
$64.6K $19.70/SF
− OpEx
−$19.4K −$5.91/SF
NOI
$45.2K $13.79/SF
Area
Clearwater, FL
Vacancy
6.17%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$904,260
Cap Rate 7%
$645,900
Cap Rate 9%
$502,367
Alternative Uses
Best Use
Multifamily LT 5
$645.9K
$565.2K – $753.6K
NOI $45,213 @ 7.0% cap · market cap 5.69%
Second Best
Apartment 5plus
$578.0K
$505.7K – $674.3K
NOI $40,457 @ 7.0% cap · market cap 5.09%
Theoretical Best
Office A
$919.7K
$804.7K – $1.07M
NOI $64,377 @ 7.0% cap · market cap 8.10%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,735
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Income-producing fourplex with updated interiors, varied bedroom layouts, laundry hookups, storage, and assigned parking.
Where is this quadplex located?
The property is located at 1259 Franklin St Clearwater, FL.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Four approximately 1,000 SF units with 2- and 3‑bedroom layouts; Renovated kitchens with stone countertops and new cabinetry; Updated bathrooms and fresh paint throughout
