Fully Leased Triplex
For Sale
$487,000
725 NEW YORK ST, Clearwater, FL 33756
Triplex offers one vacant 2/1 and three leased units, including a 2023 roof on one 1/1.
Property Size1,375 SF
Price / SF$354.18
Days on Market9
Property Features for 725 NEW YORK ST
General Information
Standard status
Active
Size
1,375 SF
Property subtype
Triplex
Occupancy
100%
Additional Details
Multifamily Units
3
Building Details
Year Built
1948
Listing Agency:
COPELAND MORGAN LLC
(727) 235-7988
Listed By:
Jeremy Dinh · License #3574525
Source:
Endlesssummerrealty
Added: Jul 23
Changed: Jul 27
Last Checked: Jul 31 at 5:46AM
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 COPELAND MORGAN LLC
Investment Insights
Based on property information with market context.
This fully leased triplex includes one updated 2/1 unit and two 1/1 units. The 1/1 building has a new roof installed in 2023. The updated 2/1 unit features newer windows, appliances, and flooring and will be vacant upon closing, creating an immediate option for an owner-occupant while the remaining units stay leased.
Per the current rent roll, the property is generating $4,425 per month. The 2/1 unit is currently rented below market at $1,500 (stated potential of $1,600), and the 1/1 units are rented at $1,425 and $1,500. Located at 725 NEW YORK ST in Clearwater, FL 33756, the property is described as being just minutes from the gulf beaches.
Per the current rent roll, the property is generating $4,425 per month. The 2/1 unit is currently rented below market at $1,500 (stated potential of $1,600), and the 1/1 units are rented at $1,425 and $1,500. Located at 725 NEW YORK ST in Clearwater, FL 33756, the property is described as being just minutes from the gulf beaches.
Key Highlights
- Fully leased triplex generating $4,425 per month, with one 2/1 unit vacant at closing
- 2023 roof installed on the 1/1 building
- Updated 2/1 unit features newer windows, appliances, and flooring and is vacant at closing
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 | $28.9k | $21.00 |
| − Vacancy | −$1.8k | −$1.30 |
| EGI | $27.1k | $19.70 |
| − OpEx | −$8.1k | −$5.91 |
| NOI | $19.0k | $13.79 |
1,375 SF · lease $21.00/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$270.9K
$237.1K – $316.1K
NOI $18,965 @ 7.0% cap · market cap 3.89%
Second Best
Apartment 5plus
$242.4K
$212.1K – $282.8K
NOI $16,970 @ 7.0% cap · market cap 3.48%
Theoretical Best
Office A
$385.8K
$337.6K – $450.1K
NOI $27,004 @ 7.0% cap · market cap 5.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
877
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Triplex offers one vacant 2/1 and three leased units, including a 2023 roof on one 1/1.
Where is this triplex located?
The property is located at 725 NEW YORK ST Clearwater, FL.
What is the asking price?
The asking price for this property is $487,000.
What are key features of this property?
This property features: Fully leased triplex generating $4,425 per month, with one 2/1 unit vacant at closing; 2023 roof installed on the 1/1 building; Updated 2/1 unit features newer windows, appliances, and flooring and is vacant at closing
