Clearwater Apartment Near Golf
For Sale
$85,900
1345 DREW St 5, Clearwater, FL 33755
One-bedroom apartment near Clearwater Beach and golf course.
Property Size560 SF
Lot Size0.53 Acres
Days on Market325
Property Features for 1345 DREW St 5
General Information
Standard status
Active
Size
560 SF
Lot size
0.53 Acres
Property subtype
Residential
Taxes and HOA fees
Annual Taxes
$803
Building Details
Building Size
560 SF
Year Built
1964
Stories
2
Listed By:
Leiza Halsey
(727) 424-4554
Source:
Elliman
Added: Nov 27, 2025
Changed: Oct 14
Last Checked: Oct 16 at 10:49AM
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 Leiza Halsey
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Investment Insights
Based on property information with market context.
This one-bedroom, one-bathroom apartment offers a comfortable living space in a convenient location. Situated across from the Clearwater Country Club & Golf Course, the well-maintained unit is also located minutes from Clearwater Beach, Dunedin Restaurants, and the Pinellas Trail. The property features an open-concept living area designed to maximize space, along with a spacious enclosed private patio that adds extra square footage. The unit has tile flooring throughout. Included amenities are water, sewer, garbage disposal, one reserved parking space, and on-site coin-operated laundry. A back door provides direct access to the reserved parking space. The property is located in a well-maintained co-op community. The unit is tenant-occupied through February 2026, with a reliable tenant paying $1,100 per month. The location provides proximity to shopping, dining, hospitals, and government buildings.
Key Highlights
- Prime location directly across from Clearwater Country Club & Golf Course, and minutes from Clearwater Beach, Dunedin Restaurants, and the Pinellas Trail.
- Tenant occupied through Feb 2026 generating $1,100/month rent with a reliable tenant, offering an immediate investment opportunity.
- Spacious enclosed private patio adds extra square footage and functions as a separate room.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,912
Cap Rate
8.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$138,240
$138.2K
Cap Rate 7%
$98,743
$98.7K
Cap Rate 9%
$76,800
$76.8K
Market Conditions
NOI Build-Up for 560 SF
Gross rent
$13.4K $24.00/SF
− Vacancy
−$874 −$1.56/SF
EGI
$12.6K $22.44/SF
− OpEx
−$5.7K −$10.10/SF
NOI
$6.9K $12.34/SF
Area
Clearwater, FL
Vacancy
6.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$138,240
Cap Rate 7%
$98,743
Cap Rate 9%
$76,800
Alternative Uses
Best Use
Apartment 5plus
$98.7K
$86.4K – $115.2K
NOI $6,912 @ 7.0% cap · market cap 8.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$157.1K
$137.5K – $183.3K
NOI $10,998 @ 7.0% cap · market cap 12.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,393
Businesses Nearby
Explore this area
Business Placement
Demographics for 33755, FL
28,360
Population
11,872
Households
2.4
Avg Household Size
41
Median Age
25%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,156
Density / Sq Mi
$59,613
Median Household Income
$36,206
Median Earnings
$1,340
Median Rent
$300,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - One-bedroom apartment near Clearwater Beach and golf course.
Where is this apartment building located?
The property is located at 1345 DREW St 5 Clearwater, FL.
What is the asking price?
The asking price for this property is $85,900.
What are key features of this property?
This property features: Prime location directly across from Clearwater Country Club & Golf Course, and minutes from Clearwater Beach, Dunedin Restaurants, and the Pinellas Trail.; Tenant occupied through Feb 2026 generating $1,100/month rent with a reliable tenant, offering an immediate investment opportunity.; Spacious enclosed private patio adds extra square footage and functions as a separate room.
