Largo Multifamily Investment
For Sale
$1,100,000
Pending
614 BEVERLY Ave, Largo, FL 33770
Well-maintained 7-unit property in Largo with income upside.
Property Size3,602 SF
Lot Size0.40 Acres
Days on Market160
Property Features for 614 BEVERLY Ave
General Information
Standard status
Pending
Size
3,602 SF
Lot size
0.40 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$6,998
Building Details
Building Size
3,602 SF
Year Built
1951
Stories
1
Units
7
Listing Agency:
(610) 463-8333
Listed By:
Nicholas Catando
(610) 463-8333
Source:
Elliman
Added: Mar 25
Changed: Aug 8
Last Checked: Jul 29 at 3:27AM
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 Nicholas Catando
Investment Insights
Based on property information with market context.
This well-maintained 7-unit property is located in a desirable Largo location. It offers a strong in-place income with additional upside potential through operational efficiencies and interior upgrades. The unit mix consists of four studios, one 1-bedroom/1-bathroom unit, one 2-bedroom/1-bathroom unit, and one 4-bedroom/1-bathroom unit. This diverse mix provides a broad tenant appeal and income stream. Recent capital improvements include a roof, windows, and siding, all replaced within the past four years. The property is conveniently located near major roadways, shopping, dining, and the Gulf beaches. This location benefits from strong rental demand and long-term appreciation potential, making it an ideal addition to any investment portfolio.
Key Highlights
- Strong in‑place income with additional upside potential.
- Desirable Largo location near major roadways, shopping, dining, and Gulf beaches.
- Recent capital improvements: roof, windows, and siding replaced within the past four years.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,128
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.01%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$662,560
$662.6K
Cap Rate 7%
$473,257
$473.3K
Cap Rate 9%
$368,089
$368.1K
Market Conditions
NOI Build-Up for 3,602 SF
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.
Gross rent
$64.8K $18.00/SF
− Vacancy
−$4.6K −$1.28/SF
EGI
$60.2K $16.72/SF
− OpEx
−$27.1K −$7.52/SF
NOI
$33.1K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$662,560
Cap Rate 7%
$473,257
Cap Rate 9%
$368,089
Alternative Uses
Best Use
Apartment 5plus
$473.3K
$414.1K – $552.1K
NOI $33,128 @ 7.0% cap · market cap 3.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$936.9K
$819.8K – $1.09M
NOI $65,584 @ 7.0% cap · market cap 5.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
893
Businesses Nearby
Explore this area
Business Placement
Demographics for 33770, FL
25,475
Population
13,417
Households
1.9
Avg Household Size
50
Median Age
26%
College-Educated
90%
High-School Grad
5.2 sq mi
ZIP Area
4,899
Density / Sq Mi
$58,071
Median Household Income
$39,354
Median Earnings
$1,481
Median Rent
$245,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained 7-unit property in Largo with income upside.
Where is this apartment building located?
The property is located at 614 BEVERLY Ave Largo, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Strong in‑place income with additional upside potential.; Desirable Largo location near major roadways, shopping, dining, and Gulf beaches.; Recent capital improvements: roof, windows, and siding replaced within the past four years.
