Homes for sale - 212-214 S HIGHLAND AVE, Clearwater, FL 33755

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Josh Cotton

josh@welcomehome904.com +1(904) 982-8461

$ 1,200,000

Est. payment | -/mo

5 Beds

4 Baths

2,064 SqFt

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$ 1,200,000

Est. payment | -/mo

Save Virtual Tour

5 Beds

4 Baths

2,064 SqFt

Key Details

Property Type Multi-Family

Sub Type Triplex

Listing Status Active

Purchase Type For Sale

Square Footage 2,064 sqft

Price per Sqft $581

Subdivision Boulevard Heights

MLS Listing ID O6321854

Bedrooms 5

Construction Status Completed

HOA Y/N No

Year Built 1952

Annual Tax Amount $6,650

Lot Size 0.350 Acres

Acres 0.35

Lot Dimensions 83x110

Property Sub-Type Triplex

Source Stellar MLS

Property Description

Exceptional Investment or Development Opportunity in Prime Clearwater Location

Presenting a rare opportunity to acquire a high-potential triplex nestled on an expansive 15,033 sq ft corner lot in the highly sought-after Downtown Gateway area of Clearwater. This property offers immense promise for both investors seeking immediate returns or developers with an eye for future growth. Zoned to allow for the development of up to 7-8 additional units, this is an outstanding canvas for expansion or redevelopment.
The Property:

This distinctive triplex features three unique units, each with its own character and considerable income-generating potential.

Unit 214B: A spacious 2-bedroom, 1.5-bath residence showcasing beautiful hardwood floors throughout, a generous master suite with a walk-in closet, and a charming bonus room with a cozy fireplace—perfect for a game room or home office. This unit rents for $2,500/month.

Unit 212: A well-designed 1-bedroom, 1-bath unit with separate electric and water meters, offering flexibility for long-term tenants ($1600) or short-term rental opportunities. Ideal for an Airbnb or VRBO investment, with the potential to generate up to $2,000/month.

Unit 214A: An efficiency/studio unit with a full bath, previously generating up to $2,200/month on Airbnb/VRBO. or Longterm rental for $1300 (Please note: Clearwater enforces a minimum 30-day rental restriction.)
Also The property has availability for RV and jet ski parking to generate up to $2500 monthly creating a NOI of $82,600 and Cap rate of 6.8%

While the property may require some TLC, it is brimming with potential. With shared utilities between Units 214A and 214B and independent meters for Unit 212, the layout is well-suited for various rental models.
Additional Highlights:

Central A/C in the 2-bedroom unit (installed in 2004), complemented by a mix of central and window units throughout.

Roof replaced in 2017, ensuring peace of mind for the next owner.

Detached storage shed/workshop on the vacant portion of the lot—an excellent space for additional storage or project use.

Developer's Dream:

Situated in Clearwater's Downtown Gateway district, this property is zoned for up to 35 units per acre, which opens the door to potential development for up to 10 residential units (buyer to verify with the city). Whether you envision expanding the multifamily footprint or redeveloping for a larger project, this is a prime opportunity to capitalize on Clearwater's growing demand for residential space.
Don't Miss Out:

This is a rare investment opportunity in a flourishing area with excellent upside potential. Whether you're looking for strong cash flow from current tenants or a high-potential development project, this property checks all the boxes. Confirm zoning, building codes, and permitting requirements with the City to ensure a seamless transition to your next vision.

Location

State FL

County Pinellas

Community Boulevard Heights

Area 33755 - Clearwater

Interior

Interior Features Ceiling Fans(s), Primary Bedroom Main Floor

Heating Electric

Cooling Central Air, Wall/Window Unit(s)

Flooring Wood

Fireplaces Type Masonry

Fireplace true

Appliance Refrigerator

Laundry None

Exterior

Exterior Feature Fence

Utilities Available Electricity Connected, Sewer Connected, Water Connected

View Garden

Roof Type Shingle

Garage false

Private Pool No

Building

Entry Level One

Foundation Crawlspace, Stem Wall

Lot Size Range 1/4 to less than 1/2

Sewer Public Sewer

Water Public

Structure Type Frame

New Construction false

Construction Status Completed

Schools

Elementary Schools Skycrest Elementary-Pn

Middle Schools Oak Grove Middle-Pn

High Schools Clearwater High-Pn

Others

Pets Allowed Yes

Senior Community No

Ownership Fee Simple

Acceptable Financing Cash, Conventional, FHA

Listing Terms Cash, Conventional, FHA

Special Listing Condition None

Virtual Tour https://www.propertypanorama.com/instaview/stellar/O6321854

Listed by BEST HOMES, LLC.

"People Before Property"

Assisting buyers and sellers in achieving their goals is literally what I love to do!

+1(904) 982-8461

josh@welcomehome904.com

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212-214 S HIGHLAND AVE Clearwater, FL 33755