5-Unit Apartment Property with
For Sale
$752,000
2335 EVANS ROAD, Clearwater, FL 33763
Five leased residences combine two-bedroom apartments and studios, with shared laundry and a tenant pool.
Property Size3,391 SF
Price / SF$221.76
Days on Market10
Property Features for 2335 EVANS ROAD
General Information
Standard status
Active
Size
3,391 SF
Property subtype
Quadruplex
Occupancy
100%
Units
Unit Mix
2 x studio, 3 x 2-Bedroom
Multifamily Units
5
Additional Details
Gross Income
$82,800
Tenant in Place
Yes
Amenities
shared pool
shared washer and dryer
storage shed
Building Details
Year Built
1967
Buildings
2
Listing Agency:
ARCHWATER REALTY LLC
Listed By:
Robert VanPamelen · License #3045798
(727) 492-4300
Source:
Endlesssummerrealty
Added: Oct 22
Changed: Oct 29
Last Checked: Oct 30 at 4:52PM
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 ARCHWATER REALTY LLC
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Investment Insights
Based on property information with market context.
This 5-unit apartment property includes two separate structures with a combined 3,391 square feet. The main building contains three 2-bedroom apartments. The adjacent building adds one 2-bedroom apartment and two studios, which share a bathroom. A shared pool, washer and dryer, and small storage shed are also on site. The property was built in 1967.
All five units are occupied under annual 12-month leases. Residents share the pool and laundry facilities.
All five units are occupied under annual 12-month leases. Residents share the pool and laundry facilities.
Key Highlights
- Five units: three 2‑bedroom apartments and two studios
- Two buildings with 3,391 square feet total
- Studios share a main bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,852
Cap Rate
5.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$837,040
$837.0K
Cap Rate 7%
$597,886
$597.9K
Cap Rate 9%
$465,022
$465.0K
Market Conditions
NOI Build-Up for 3,391 SF
Gross rent
$81.4K $24.00/SF
− Vacancy
−$5.3K −$1.56/SF
EGI
$76.1K $22.44/SF
− OpEx
−$34.2K −$10.10/SF
NOI
$41.9K $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%
$837,040
Cap Rate 7%
$597,886
Cap Rate 9%
$465,022
Alternative Uses
Best Use
Apartment 5plus
$597.9K
$523.2K – $697.5K
NOI $41,852 @ 7.0% cap · market cap 5.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$951.4K
$832.5K – $1.11M
NOI $66,596 @ 7.0% cap · market cap 8.86%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,549
Businesses Nearby
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Business Placement
Demographics for 33763, FL
18,981
Population
11,638
Households
1.6
Avg Household Size
58
Median Age
28%
College-Educated
93%
High-School Grad
3.4 sq mi
ZIP Area
5,583
Density / Sq Mi
$53,552
Median Household Income
$36,730
Median Earnings
$1,447
Median Rent
$215,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Five leased residences combine two-bedroom apartments and studios, with shared laundry and a tenant pool.
Where is this apartment building located?
The property is located at 2335 EVANS ROAD Clearwater, FL.
What is the asking price?
The asking price for this property is $752,000.
What are key features of this property?
This property features: Five units: three 2‑bedroom apartments and two studios; Two buildings with 3,391 square feet total; Studios share a main bathroom
