• Stabilized Rental Portfolio with Future Development Potential
• Value-Add Potential in Increasing Current NOI

• Located in One of the Fastest Growing Metropolitan Areas in the Country
• Close Proximity to Downtown Clearwater, Clearwater Beach, and Other Major Demand Drivers
• High Walkability Score
• Gentrifying Submarket Experiencing Rapid Growth & New Development

The Babb Group of Marcus & Millichap is pleased to offer, the Clearwater Portfolio II; a 12-unit rental portfolio consisting of 4 adjacent parcels of land just East of downtown Clearwater that contain two single-family homes and two five-unit properties. The single-family homes are both 2 bed 1 bath homes averaging $875 each in rental income per month. The other two properties offer a total of 2 two-bedroom units, 6 one-bedroom units and 2 efficiency units with an average size of 549 square feet and $700 of income per unit per month.

Clearwater is located within the Tampa Bay MSA, which is experiencing unprecedented growth with 4,000+ people moving to the area each month. Many new residents are moving for the relatively low cost of living and job opportunities as the metro continues to be one of the best per capita employment growth markets in the country. This will bolster rental properties long-term, pave the way for continued rent growth and lead to asset appreciation due to the increased demand for residential housing. This portfolio is located on Drew Street, less than a mile from downtown Clearwater’s restaurants and shopping and just over 3 miles away from the world-famous Clearwater Beach. This is a value-add opportunity offered at $799,000, or $66,583 per unit, and can be sold along with another portfolio that consists of 16 residential rental units and 6 office/retail units, also in the Clearwater area.

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