Clearwater Triplex | 10.8% Cap | Development + Short-Term Rental Upside

[Svit Kovacevic]

📍 214 Highland Ave, Clearwater, FL

🏘 Property Type: Existing Triplex

📐 Lot Size: 15,033 sq ft (0.35 acre) – zoned up to 35 units/acre (potential for 7–8 additional units)

💰 Assignment Price: $760,000 + closing costs + $7,300 seller’s realtor commission

📊 Current NOI: ~ $82,600

📈 Cap Rate (at assignment price): ~10.8%

🚀 Opportunity: Cash-flowing triplex with redevelopment upside (up to 10 total units build-out potential)

🏠 Current Rents

Unit 214B (2 bed / 1.5 bath): ~$2,500/month

Unit 212 (1 bed / 1 bath): ~$1,600/month long-term (short-term market closer to ~$2,000/month)

Unit 214A (studio): ~$2,200/month on Airbnb/VRBO, or ~$1,300/month long-term
⚡️ Bonus Income Potential: RV + jet ski parking (~$2,500/month).

📌 Terms

Close in 30 days

10-day inspection period

$10,000 EMD with Marina Title

📂 Full photos + documents available in Google Drive (DM or email for link).

 Contact Info

Svit Kovacevic

📧 [email protected]

📱 (786) 491-1908