Active
111 N LADY MARY DR
$3,400,000
Features:
Property Details
Remarks
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/2BA in a two-story CBS walk-up. 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 ~$221K; pro forma ~$242K. Laundry and RUBS utility reimbursement add income. Tours by appointment through Rider RE only - please do not disturb tenants.
Financial Considerations
Price:
$3,400,000
HOA Fee:
N/A
Tax Amount:
$27093.08
Price per SqFt:
$220.09
Tax Legal Description:
BROOKWOOD TERRACE REVISED BLK 1, LOTS 5,6 AND N 1/2 OF LOT 7
Exterior Features
Lot Size:
23235
Lot Features:
N/A
Waterfront:
No
Parking Spaces:
N/A
Parking:
N/A
Roof:
Membrane
Pool:
No
Pool Features:
N/A
Interior Features
Bedrooms:
Bathrooms:
0
Heating:
Central, Electric
Cooling:
Central Air
Appliances:
Refrigerator
Furnished:
No
Floor:
N/A
Levels:
Two
Additional Features
Property Sub Type:
Multi-Family 5+
Style:
N/A
Year Built:
1973
Construction Type:
Block
Garage Spaces:
No
Covered Spaces:
N/A
Direction Faces:
Undetermined
Pets Allowed:
No
Special Condition:
None
Additional Features:
N/A
Additional Features 2:
N/A
Map
- Address111 N LADY MARY DR
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