Under contract-accepting backup offers. Rare high-appreciation investment opportunity in downtown Clearwater! This property is located in a prime downtown location, with no HOA, and is in Flood Zone X. The property is a two-story duplex. Each unit is 1,080 sq ft and includes 2 bedrooms and 1 bathroom. There is… Read More also a detached garage of approximately 300 sq ft next to the main building. The seller has already completed the pre-construction site preparation and cleanup work and has obtained a complete set of architect-prepared, signed and sealed plans for permit application. The plans include the renovation design for the two existing residential units and the conversion of the detached garage into a third residential unit, including cabinetry, a bathroom with a shower, and living space. The buyer does not need to start from scratch. The key component—the architect-prepared, signed and sealed plans—has already been completed by the seller. The buyer only needs to prepare any additional supporting documents required by the City and submit them together with the plans for permit approval. The estimated permit review timeframe is approximately 3–4 weeks. Once the permit is approved, construction can begin according to the existing plans. Except for the roof, which was replaced in 2014, all other parts of the property require a full renovation. A buyer may first renovate and rent the two existing residential units to begin generating substantial rental income, then convert the detached garage into a third residential unit according to their own timeline, subject to City approval. Upon completion of the planned renovation and conversion, the property would consist of three residential units with approximately 2,450 sq ft of total living space. The proposed three-unit configuration offers strong long-term rental income and appreciation potential. This property is especially well suited for a long-term rental owner seeking greater rental income from three residential units, an owner-occupant who plans to live in one unit while renting the others, or a contractor or experienced renovation professional seeking resale profit through the completion of the renovation. Read Less
Courtesy of HOMECOIN.COM 888-400-2513
Listing Snapshot
Days Online
82
Last Updated
Property Type
Duplex
Beds
4
Square Ft.
2,160
Lot Size
0.11 Acres
Year Built
1957
MLS Number
TB8536909
Additional Details
Property Access
Road Surface: Asphalt
Building
Built in 1957, Living area: 2160, Living area units: Square Feet, Levels: One, Construction Materials: Block, Concrete
Cooling
None
Exterior Features
Patio/Porch Features: Covered, Front Porch, Porch, Fence, Sidewalk
Fireplaces
Family Room
Foundation
Slab
Garage
1 space
Heating
None, Wall Furnace
Laundry
Laundry Room
Lot
0.11 acres, Dimensions: 59x105, City Limits, Sidewalk, Paved
Pets Policy
Allowed: Yes
Property
Fixer, City
Roof
Membrane
Sewer
Public Sewer
Taxes
Additional parcels description:, Parcel Number: 15-29-15-38574-010-0060, Public Survey Range: 15, Public Survey Section: 15, Annual Amount: $1,344.45, Tax Block: J, Tax Book Number: 14-55, Legal Description: HIBISCUS GARDENS BLK J, LOT 6, Lot: 6, Year: 2024
Utilities
Electricity Available, Electricity Connected, Public, Sewer Available, Sewer Connected, Water Available, Water Connected, Water Source: Public
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