6-Unit Apartment
For Sale
$999,999
Pending
155 NEW YORK AVENUE, Dunedin, FL 34698
Three-building multifamily property with a documented mix of two- and one-bedroom apartments.
Property Size4,440 SF
Days on Market678
Property Features for 155 NEW YORK AVENUE
General Information
Standard status
Pending
Size
4,440 SF
Property subtype
Multi Family
Occupancy
100%
Property Condition
Severity
Repairs Needed
Evidence
water in the units during Milton
Units
Unit Mix
2 x 2BR/2BA, 2 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$9,456
Building Details
Year Built
1968
Buildings
3
Listing Agency:
MANGROVE BAY REALTY LLC
(813) 444-7440
Listed By:
Valarie Gerbus · License #3426292
(813) 244-3959
Source:
Exitrealty
Added: Dec 9, 2024
Changed: Oct 1
Last Checked: Oct 1 at 10:46AM
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 MANGROVE BAY REALTY LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 6-unit apartment property comprises three separate buildings, with two apartments in each building. The 4,440-square-foot asset was built in 1968 and includes a mix of two 2-bedroom/2-bath units, two 2-bedroom/1-bath units, and two 1-bedroom/1-bath units.
Five apartments are leased through the end of 2025, while the remaining unit is leased through September 2025. Water entered two apartments in Unit A/B during Milton; carpet replacement has been completed in Unit B, and installation is being scheduled for Unit A. The property is located 15 minutes from Honeymoon Island and Clearwater Beach.
Five apartments are leased through the end of 2025, while the remaining unit is leased through September 2025. Water entered two apartments in Unit A/B during Milton; carpet replacement has been completed in Unit B, and installation is being scheduled for Unit A. The property is located 15 minutes from Honeymoon Island and Clearwater Beach.
Key Highlights
- 6‑unit apartment property across three buildings
- 4,440 square feet; built in 1968
- Unit mix includes two 2‑bedroom/2‑bath, two 2‑bedroom/1‑bath, and two 1‑bedroom/1‑bath apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,835
Cap Rate
4.08%
Suggested Prices Based on Cap Rates
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
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 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 4.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.15M
$1.01M – $1.35M
NOI $80,842 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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
Frequently Asked Questions
What type of property is this?
Apartment building - Three-building multifamily property with a documented mix of two- and one-bedroom apartments.
Where is this apartment building located?
The property is located at 155 NEW YORK AVENUE Dunedin, FL.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: 6‑unit apartment property across three buildings; 4,440 square feet; built in 1968; Unit mix includes two 2‑bedroom/2‑bath, two 2‑bedroom/1‑bath, and two 1‑bedroom/1‑bath apartments
