Renovated Two-Unit
New
For Sale
$595,000
1764 S MARTIN LUTHER KING JR Avenue, Clearwater, FL 33756
Residential Income, CLEARWATER, FL
Property Size1,616 SF
Lot Size0.27 Acres
Price / SF$368.19
Days on Market1
Property Features for 1764 S MARTIN LUTHER KING JR Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Dining Room, Bedroom 3, Bedroom 2, Bathroom 1, Bedroom 1, Bedroom 4
Window features
ENERGY STAR Qualified WIndows, Insulated Windows
Pets allowed
Yes
Interior features
Living Room/Dining Room Combo
Exterior features
Private Yard
Appliances
Dryer, Gas Water Heater, Microwave, Range, Refrigerator, Washer
Subdivision
UNINCORPORATED
Directions
From East Bay Dr.: Turn north onto Missouri Ave N. Turn left onto Jasper St. Turn right onto S. MLK Jr. Ave. The property will be on the left.
Standard status
Active
APN
27-29-15-00000-230-0400
Size
1,616 SF
Lot size
0.27 Acres
Additional Details
Tenant in Place
Yes
Individually Metered Utilities
electricity
Taxes and HOA fees
Tax Year
2025
Tax Description
PART OF SW 1/4 OF NW 1/4 TO POB LESS E 30FT FOR RD R/W OF SEC 27-29-15 DESC AS FROM SE COR OF SW 1/4 OF NW 1/4 OF SD SEC TH N00D 55'09"E 338.33FT ALG SEC LINE FOR POB TH CONT N00D 55'09"E 95FT TH N89D48' 53"W 155FT TH S00D55'09"W 95FT TH S89D48'53"E 155FT
Tax Annual Amount
5537
Legal Description
PART OF SW 1/4 OF NW 1/4 TO POB LESS E 30FT FOR RD R/W OF SEC 27-29-15 DESC AS FROM SE COR OF SW 1/4 OF NW 1/4 OF SD SEC TH N00D 55'09"E 338.33FT ALG SEC LINE FOR POB TH CONT N00D 55'09"E 95FT TH N89D48' 53"W 155FT TH S00D55'09"W 95FT TH S89D48'53"E 155FT
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Central, Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
carport
Florida rooms
laundry area
lanai
Building Details
Year built
1963
Floors in Building
1
Flooring type
Vinyl
Building materials
Block
Roof type
Shingle
Buildings
1
Listing Agency:
KELLER WILLIAMS REALTY- PALM HARBOR
(727) 772-0772
Listed By:
Eric Szemple
(443) 375-8662
Added: Oct 31
Last Checked: Oct 31 at 4:06PM
MLS# TB8563161
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1,616-square-foot duplex on a 0.27-acre parcel contains two side-by-side residences, each with two bedrooms, one bathroom, and 808 square feet of living area. Both units have updated kitchens and bathrooms, open layouts, laundry areas, and Florida rooms. Block construction, central air conditioning, and carports are among the property’s features.
Each residence has its own electric meter, and tenants pay all utilities. The property is at 1764 S Martin Luther King Jr Avenue in Clearwater. A new subdivision is being built next to the property.
Each residence has its own electric meter, and tenants pay all utilities. The property is at 1764 S Martin Luther King Jr Avenue in Clearwater. A new subdivision is being built next to the property.
Key Highlights
- Two‑unit duplex with 1,616 square feet on a 0.27‑acre parcel
- Each unit has 2 bedrooms, 1 bathroom, and 808 square feet
- Both residences feature updated kitchens and bathrooms, open layouts, laundry areas, and Florida rooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,290
Cap Rate
3.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$445,800
$445.8K
Cap Rate 7%
$318,429
$318.4K
Cap Rate 9%
$247,667
$247.7K
Market Conditions
NOI Build-Up for 1,616 SF
Gross rent
$33.9K $21.00/SF
− Vacancy
−$2.1K −$1.30/SF
EGI
$31.8K $19.70/SF
− OpEx
−$9.6K −$5.91/SF
NOI
$22.3K $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%
$445,800
Cap Rate 7%
$318,429
Cap Rate 9%
$247,667
Alternative Uses
Best Use
Multifamily LT 5
$318.4K
$278.6K – $371.5K
NOI $22,290 @ 7.0% cap · market cap 3.75%
Second Best
Apartment 5plus
$284.9K
$249.3K – $332.4K
NOI $19,945 @ 7.0% cap · market cap 3.35%
Theoretical Best
Office A
$453.4K
$396.7K – $529.0K
NOI $31,737 @ 7.0% cap · market cap 5.33%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
862
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
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Side-by-side residences offer separate electric meters, laundry areas, and Florida rooms.
Where is this duplex located?
The property is located at 1764 S MARTIN LUTHER KING JR Avenue Clearwater, FL.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,616 square feet on a 0.27‑acre parcel; Each unit has 2 bedrooms, 1 bathroom, and 808 square feet; Both residences feature updated kitchens and bathrooms, open layouts, laundry areas, and Florida rooms
