Clearwater Income Generating
400 S METEOR AVENUE Clearwater, FL 33765
400 S METEOR AVENUE, Clearwater, FL, 33765
$1,200,000
For Sale
$1,200,000
Multi-Family 5+ - CLEARWATER, FL
Property Size4,098 SF
Lot Size0.25 Acres
Price / SF$292.83
Days on Market159
Property Features for 400 S METEOR AVENUE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Interior features
- Ceiling Fans(s), Kitchen/Family Room Combo, Living Room/Dining Room Combo, Solid Surface Counters, Solid Wood Cabinets
- Exterior features
- Fence, Garden, Private Entrance, Private Mailbox, Sidewalk
- Fencing
- Fenced
- Standard status
- Active
- APN
- 13-29-15-82620-002-0070
- Size
- 4,098 SF
- Lot size
- 0.25 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 18853.38
Utilities
- Heating system
- Central, Electric (Heating)
- Cooling system
- Central Air
Building Details
- Year built
- 1969
- Number of units
- 6
- Building materials
- Block
- Roof type
- Shingle
- Architectural style
- Other
Listing Agency
CHARLES RUTENBERG REALTY INC
(727) 538-9200
1545 S Belcher Rd, Clearwater, FL
Listed by
Gail Johnston · License #599968
(727) 422-5505
Added: Feb 9 Checked: Jul 18 at 4:06 pm
MLS# TB8472934
Listing URL
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.
Investment Insights
Based on property information with market context.
This multifamily property in Clearwater, Florida, features six units: one 2-bedroom/2-bath unit, one 1-bedroom/2-bath unit, and four 1-bedroom/1-bath units. All units have been updated and are currently occupied. Constructed of concrete block, the building offers durability and requires minimal immediate maintenance. The property is located in a high-demand area near US-19, providing convenient access to Tampa and St. Pete. The location is also minutes from Downtown Clearwater, The Sound at Coachman Park, and Clearwater Beach. The property has consistent high occupancy rates and reliable rental income. Tenants benefit from convenient access to local dining, shopping, and major employment hubs such as Morton Plant Hospital. The laundry room is equipped with washers and dryers accessible via a user-friendly cell phone application. Electric is separately metered for each unit. The property, situated on a 0.25-acre lot, offers 4,098 square feet of living space. This property is suitable for investor portfolio expansion.
Key Highlights
- Turnkey 6‑Plex Income Machine: Fully updated and consistently occupied units provide immediate ROI.
- Strategic Central Clearwater Location: Minutes from US‑19, Downtown Clearwater, Coachman Park, and Clearwater Beach, offering easy access to Tampa and St. Pete.
- Desirable Unit Mix with High Occupancy: Features a mix of 2‑bed/2‑bath and 1‑bed units with consistent high occupancy rates and reliable rental income.
Local Financial Insights For Apartment 5plus
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 | $98.4k | $24.00 |
| − Vacancy | −$6.4k | −$1.56 |
| EGI | $92.0k | $22.44 |
| − OpEx | −$41.4k | −$10.10 |
| NOI | $50.6k | $12.34 |
4,098 SF · lease $24.00/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$722.5K
$632.2K – $843.0K
NOI $50,578 @ 7.0% cap · market cap 4.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,481 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Turnkey 6-unit multifamily property in Clearwater, Florida.
Where is this apartment building located?
The property is located at 400 S METEOR AVENUE Clearwater, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Turnkey 6‑Plex Income Machine: Fully updated and consistently occupied units provide immediate ROI.; Strategic Central Clearwater Location: Minutes from US‑19, Downtown Clearwater, Coachman Park, and Clearwater Beach, offering easy access to Tampa and St. Pete.; Desirable Unit Mix with High Occupancy: Features a mix of 2‑bed/2‑bath and 1‑bed units with consistent high occupancy rates and reliable rental income.
