111 N Lady Mary Drive, Clearwater, FL 33755
- $3,400,000
- 13,056
- SqFt
- List Price
- $3,400,000
- Status
- Active
- Days on Market
- 35
- MLS#
- A4697854
- Property Style
- Multi-Family 5+
- Year Built
- 1973
- Living Area
- 13,056
- Lot Size
- 23,235
- Acres
- 0.53
- Total Acreage
- 1/2 to less than 1
- Legal Subdivision Name
- Brookwood Terrace Rev
- MLS Area Major
- Clearwater
Property Description
Kings Court Apartments - an 18-unit value-add multifamily asset in central Clearwater, minutes from downtown and the Gulf beaches and directly across from Clearwater Country Club. The mix is seven 1BD/1BA and eleven 2BD/1BA in a two-story CBS garden-style building. Major capital is already in place: a 40-year TPO roof installed within the last ~3 years, newer HVAC across most units, copper wiring, and a resurfaced lot - the next owner's capital goes into interiors, not systems. In-place rents (avg ~$1,366) sit well below a renovated pro forma (~$1,694), with staggered 2026-27 lease expirations offering a turn-by-turn mark-to-market path supported by a comp set averaging ~$1,676. Trailing NOI ~$220K; pro forma ~$242K. Laundry and RUBS utility reimbursement add income. Tours by appointment through Rider RE only - please do not disturb tenants.
Additional Information
- Taxes
- $27093
- Annual Gross Income
- 306960
- Community Features
- No Deed Restriction
- Property Description
- Two Story
- Appliances
- Refrigerator
- Utilities
- Electricity Available, Public, Water Connected
- Heating
- Central, Electric
- Air Conditioning
- Central Air
- Exterior Construction
- Block
- Roof
- Membrane
- Foundation
- Slab
- Pool
- No Pool
- Flood Zone Code
- AE
- Parcel ID
- 15-29-15-12276-001-0050
- Legal Description
- BROOKWOOD TERRACE REVISED BLK 1, LOTS 5,6 AND N 1/2 OF LOT 7
Listing courtesy of G&R REAL ESTATE BROKERAGE, LLC. 404-368-8072
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