1481 Grove Street

Clearwater, FL 33755

$320,000
Last Sold Price
1
Beds
1,690 Sq. Ft.
$189 / Sq. Ft.
1,690
Sq. Ft.
$189
per Sq. Ft.

Description

Once in a blue moon you get lucky enough to find a Tri-plex which could be converted to a Quad-plex! Up to 4 units are possible with this investment opportunity. This Tri-Plex has a TWO - 1 bed/1bath units and ONE - 1 bed/1bath studio. All three units have hallways leading to a coin laundry for additional revenue. All three tenants have been strong long-term tenants providing 6.8% Capitalization Rate (Cap Rate). With updated market rental rates and remodeling this could rise to 8.5% with a maximum...Once in a blue moon you get lucky enough to find a Tri-plex which could be converted to a Quad-plex! Up to 4 units are possible with this investment opportunity. This Tri-Plex has a TWO - 1 bed/1bath units and ONE - 1 bed/1bath studio. All three units have hallways leading to a coin laundry for additional revenue. All three tenants have been strong long-term tenants providing 6.8% Capitalization Rate (Cap Rate). With updated market rental rates and remodeling this could rise to 8.5% with a maximum of 10% Cap Rate! Tenants not to be disturbed A new landlord could keep the current management company and structure and walk into a 6% Cap Rate without much hesitation. Or push the envelope and remodel, get 3 to 4 tenants in, and flip the investment to another. The extreme potential, plenty of parking space, and perfect Clearwater location make this an extremely strong investment option. Contact us today for more information...
  1. Listed by Nick Williamson • NEW ACRE REALTY

Property Details for 1481 Grove Street

Subdivision Name
HIGHLAND GROVES
Township
29
Carport Spaces
4
Waterfront
No

Location

Listing Courtesy of NEW ACRE REALTY, Nick Williamson

Sold By NEW ACRE REALTY, Nick Williamson

Add your commute
LISTING UPDATED: 10/26/2022 02:01 PM

Property Details for 1481 Grove Street

StatusSold
MLS #T3381130
Days on Market39
Taxes$2,747 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Triplex
Year Built1957
Lot Size0.14 AC / 5,998 SF
CountyPinellas County

Location

Listing Courtesy of NEW ACRE REALTY, Nick Williamson

Sold By NEW ACRE REALTY, Nick Williamson

Add your commute

Building Information for 1481 Grove Street

Stories-Residences3Year Built1957Building Size-Lot Size0.14 AC / 5,998 SF

Payment Calculator

$1,975 per month

30 year fixed, 7.25% Interest

Principal and Interest

$1,746

Property Taxes

$229

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1481 Grove Street

Summary
Location and General Information
  • Building Area Units: Square Feet
  • Directions: North Highland. Left on Grove. Property on Left.
  • Mls Major Change Type: Sold
  • Major Change Type: Closed
  • Listing Service: Full Service
  • Senior Community: No
  • Unit Number: No
  • Street Number: 1481
  • Street Name: GROVE
  • Street Suffix: STREET
  • State: FL
  • City: CLEARWATER
Parking
  • Attached Garage: No
  • Carport: Yes
  • Garage: No
Taxes and HOA Information
  • Association: No
  • CDD: No
  • Tax Block: B
  • Tax Book Number: 6-75
  • Tax Legal Description: HIGHLAND GROVES BLK B, LOTS 9 AND 10
  • Tax Lot: 9
  • Tax Year: 2021
Property
Lot Information
  • Additional Parcels: No
  • Parcel Number: 14-29-15-38736-002-0090
  • Total Acreage: 0 to less than 1/4
  • Total Num Buildings: 1
  • Water Access: No
  • Water Extras: No
  • Living Area: 1690
Property and Assessments
  • Year Built Numeric: 1957
  • Flood Zone Code: X
  • Flood Zone Date: 08-24-2021
  • Flood Zone Panel: 12103C0109J
  • New Construction: No
  • Public Survey Range: 15
  • Public Survey Section: 14
Utilities
  • Sewer: Public Sewer
  • Utilities: Cable Connected, Electricity Connected, Public, Sewer Connected, Street Lights, Water Connected
  • Water Source: Public
Interior and Exterior Features
Exterior Features
  • Construction Materials: Block
  • Exterior Features: Lighting, Sidewalk, Storage
  • Foundation Details: Slab
  • Pool Private: No
  • Pool: None
  • Pool Private: No
  • Roof: Shingle
  • Waterfront Feet Total: 0
Interior Features
  • Bedrooms Total: 1
  • Cooling: Central Air, Wall/Window Unit(s)
  • Fireplace: No
  • Heating: Electric
  • Interior Features: Master Bedroom Main Floor, Solid Wood Cabinets
  • Living Area Source: Public Records
  • Living Area Units: Square Feet
  • Water View: No
Multi Family
Multi-Family Information
  • Annual Net Income: $23,200.00
  • Est Annual Market Income: $42,000.00
  • Unit Count: 2
Unit 1
  • Unit Type Baths Total 1: 1
  • Unit Type Beds Total 1: 1
  • Unit Type Description 1: Market Rent is $1200+ Tenants are on month to month with no contract
  • Unit Type Heated Sq Ft 1: 540
  • Unit Type Number Of Units Occupied 1: 2
  • Unit Type Pro Forma 1: 750
  • Unit Type Type 1: 1 Bed/1 Bath
  • Unit Type Units Total 1: 2
Unit 2
  • Unit Type Baths Total 2: 1
  • Unit Type Beds Total 2: 0
  • Unit Type Description 2: Market Rent is $950+ Tenant is on a month to month with no contract
  • Unit Type Heated Sq Ft 2: 450
  • Unit Type Number Of Units Occupied 2: 1
  • Unit Type Pro Forma 2: 650
  • Unit Type Type 2: Studio
  • Unit Type Units Total 2: 1
Rental
Rental Information
  • Tenant Pays: Electricity

Property History for 1481 Grove Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1481 Grove Street

Taxable ValueLand-Additions-Total-
Tax Record2023$5,397 ($450 / month)
Home Facts
Baths3Total Finished SqFt1,690 SqFtAbove Grade Finished SqFt1,690 SqFtStories1Lot Size5,998 SqFtStyleTriplexYear Built1957Year Renovated1983CountyPINELLASAPN14-29-15-38736-002-0090

Schools near 1481 Grove Street

This home is within Pinellas.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Public - 6 to 8
Rating
School
Distance
Skycrest Elementary School
PublicPK to 5

Oak Grove Middle School
Public6 to 8

Clearwater High School
Public9 to 12

Clearwater Fundamental Middle School
Public6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of NEW ACRE REALTY, Nick Williamson

The information being provided by MFRMLS and Daytona Multiple Listing Service is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumer may be interested in purchasing. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of MFRMLS or Daytona Multiple Listing Service. Real estate listings held by brokerage firms other than this site owner are marked with the IDX/MLS logo. Information deemed reliable but is not guaranteed accurate by MFRMLS or Daytona Multiple Listing Service. Last updated: 10/26/2022 02:01 PM