Clearwater Triplex Investment
708-712 PENNSYLVANIA AVENUE Clearwater, FL 33755
708-712 PENNSYLVANIA AVENUE, Clearwater, FL, 33755
$479,999
Pending
For Sale
$479,999
Pending
Triplex - CLEARWATER, FL
Property Size1,848 SF
Lot Size0.52 Acres
Days on Market107
Property Features for 708-712 PENNSYLVANIA AVENUE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Triplex
- Bedrooms
- 4
- Rooms
- Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
- Interior features
- Ceiling Fans(s)
- Standard status
- Pending
- APN
- 10-29-15-69138-008-0020
- Size
- 1,848 SF
- Lot size
- 0.52 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 3371
Utilities
- Heating system
- Central
- Cooling system
- Central Air
Building Details
- Year built
- 1964
- Number of units
- 3
- Building materials
- Block
- Roof type
- Shingle
- Architectural style
- Other
Listing Agency
IMPACT REALTY TAMPA BAY
(813) 321-1200
3309 W Bay to Bay Blvd, Tampa, FL
Listed by
Gisselle Amparo · License #3461147
(401) 339-8460
Added: Apr 1 Checked: Jul 16 at 6:06 pm
MLS# TB8493023
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 multi-unit property, located in Clearwater, Florida, presents a turnkey investment opportunity. Two of the units have been fully remodeled, featuring updated kitchens, modern bathrooms, new flooring, windows, and fresh interior finishes. The remaining unit offers an opportunity for further improvement. The property is situated on a 0.52-acre lot with ample parking. It is conveniently located near downtown Clearwater, major highways, shopping, and the Gulf beaches. The property has a total size of 1848 square feet.
Key Highlights
- Strong income potential with value‑add upside.
- Two units fully remodeled with updated kitchens, modern bathrooms, new flooring, windows, water heater, and fresh interior finishes.
- Opportunity to remodel remaining unit for increased cash flow.
Local Financial Insights For Multifamily LT 5
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 | $38.8k | $21.00 |
| − Vacancy | −$2.4k | −$1.30 |
| EGI | $36.4k | $19.70 |
| − OpEx | −$10.9k | −$5.91 |
| NOI | $25.5k | $13.79 |
1,848 SF · lease $21.00/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$364.1K
$318.6K – $424.8K
NOI $25,489 @ 7.0% cap · market cap 5.31%
Second Best
Apartment 5plus
$325.8K
$285.1K – $380.1K
NOI $22,808 @ 7.0% cap · market cap 4.75%
Theoretical Best
Office A
$518.5K
$453.7K – $604.9K
NOI $36,293 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Turnkey Clearwater triplex with income potential and value-add upside.
Where is this triplex located?
The property is located at 708-712 PENNSYLVANIA AVENUE Clearwater, FL.
What is the asking price?
The asking price for this property is $479,999.
What are key features of this property?
This property features: Strong income potential with value‑add upside.; Two units **fully remodeled with updated kitchens, modern bathrooms, new flooring, windows, water heater, and fresh interior finishes.**; Opportunity to remodel remaining unit for increased cash flow.
