719 Douglas Ave #A Dunedin, FL 34698

Property Details for 719 Douglas Ave #A

Year built

2021

Lot size

0.28 lot acres

Property size

3,564 SF

Property type

Residential income homes

Description

This exceptional investment opportunity presents a rare, newly constructed (2021) four-unit multifamily property in Dunedin, Florida's desirable Downtown Core (DC) zoning district. The property, encompassing 3,564 square feet on a 0.28-acre lot, consists of four separate two-story buildings, each featuring a loft-style unit with towering ceilings and an open-concept floor plan. Each unit boasts private outdoor space (porch, balcony, or patio), dedicated parking, and modern coastal chic décor enhanced by abundant natural light. The complex includes a tranquil in-ground swimming pool and lush tropical landscaping. Located in a non-flood zone, this property is within walking distance of the waterfront, Main Street, the downtown market, and numerous restaurants, breweries, and shops. The DC zoning permits short-term rentals (less than 90 days), creating a high barrier to entry and limited competition. The property offers a 7.44% cap rate and a pro-forma cap rate of 7.70%. Its proximity to the Dunedin Marina, Edgewater Park, TD Ballpark, and Clearwater Beach further enhances its appeal. This fee-simple ownership offers a compelling value-add investment opportunity with significant potential for strong returns. The asking price is $2,299,000.