$3,400,000 - 111 N Lady Mary Drive, CLEARWATER
- -
- Bedrooms
- -
- Baths
- 13,056
- SQ. Feet
- 0.53
- Acres
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.
Essential Information
-
- MLS® #:
- A4697854
-
- Price:
- $3,400,000
-
- Square Footage:
- 13,056
-
- Acres:
- 0.53
-
- Year Built:
- 1973
-
- Type:
- Commercial Sale
-
- Sub-Type:
- Multi Family (5+)
-
- Status:
- Active
Community Information
-
- Address:
- 111 N Lady Mary Drive
-
- Area:
- Clearwater
-
- Subdivision:
- BROOKWOOD TERRACE REV
-
- City:
- CLEARWATER
-
- County:
- Pinellas
-
- State:
- FL
-
- Zip Code:
- 33755
Interior
-
- Appliances:
- Refrigerator
-
- Heating:
- Central Individual, Electric
-
- Cooling:
- Central Air
-
- # of Stories:
- 2
Exterior
-
- Roof:
- Membrane
-
- Foundation:
- Slab
Additional Information
-
- Days on Market:
- 35
Listing Details
- Listing Office:
- G&r Real Estate Brokerage, Llc