Dunedin Fourplex Investment
1301 N LOTUS Dr Dunedin, FL 34698
For Sale
$699,900
Pending
Fourplex in Dunedin with income and short-term rental potential.
Property Size2,550 SF
Days on Market97
Property Features for 1301 N LOTUS Dr
General Information
Standard status
Pending
Size
2,550 SF
Property subtype
Investment
Building Details
Year Built
1959
Listing Agency:
(727) 365-3425
Listed By:
Pete Dagios · License #3027615
(727) 365-3425
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 28 at 1:36PM
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 Pete Dagios
Investment Insights
Based on property information with market context.
This fourplex is located in Dunedin, offering immediate income and potential for income growth. The property is zoned for short-term rentals and is not located in a flood zone. The 2,550 square foot property (3,280 square feet under roof) features a unit mix of three 1-bedroom, 1-bathroom units and one 2-bedroom, 2-bathroom unit. Each unit has private entrances, outdoor patio space, and two dedicated parking spaces. The recently renovated 2-bedroom, 2-bathroom unit can be used as a short-term rental unit or an owner-occupant residence. Tenants reimburse utilities, and below-market rents provide a path to increased income. Completed 4-Point and Wind Mitigation inspections confirm the property’s insurability and financeability. The property is located near downtown Dunedin, the Pinellas Trail, waterfront parks, marina, beaches, dining, breweries, and year-round events. The property benefits from consistent demand drivers supporting both long-term and short-term rental performance.
Key Highlights
- Immediate income‑producing 4‑Plex in a highly desirable Dunedin location.
- Short‑term rental zoning (Airbnb/VRBO) allows for increased income potential.
- Not in a flood zone, reducing insurance costs and risk.
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 | $45.6k | $17.88 |
| − Vacancy | −$3.1k | −$1.21 |
| EGI | $42.5k | $16.67 |
| − OpEx | −$12.8k | −$5.00 |
| NOI | $29.8k | $11.67 |
2,550 SF · lease $17.88/SF/yr · vacancy 6.74% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$425.2K
$372.1K – $496.1K
NOI $29,765 @ 7.0% cap · market cap 4.25%
Second Best
Apartment 5plus
$335.0K
$293.2K – $390.9K
NOI $23,453 @ 7.0% cap · market cap 3.35%
Theoretical Best
Office A
$663.3K
$580.4K – $773.8K
NOI $46,429 @ 7.0% cap · market cap 6.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Quadplex - Fourplex in Dunedin with income and short-term rental potential.
Where is this quadplex located?
The property is located at 1301 N LOTUS Dr Dunedin, FL.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Immediate income‑producing 4‑Plex in a highly desirable Dunedin location.; Short‑term rental zoning (Airbnb/VRBO) allows for increased income potential.; Not in a flood zone, reducing insurance costs and risk.
