610 & 616 Betty Lane
Closed616 S Betty Ln, Clearwater, FL 33756
Property type
Multifamily
Unit / Space count
12
Price
$1,300,000
Building size
12,592 sf
Rentable area
12,592 SF
Year built
1966
Year renovated
Occupancy
Zoning code
Lot size
0.44 Acres
Sold/status
Sold · Date unknown
Sale price
$1300000
Bedroom count
CAP
9.05%
Property description
616 Betty Lane is a 12 unit multifamily property located in Clearwater, FL. The property is comprised of 2 buildings built in 1966, featuring concrete block construction. The unit mix consists of 8; 1 Bed 1 Bath units (780 SF) and 4; 2 Bed 2 Bath units (950 SF). The units feature screened-in patios with park & lake views in select units. Both buildings are situated across the street from Glen Oaks Park which features a tranquil lake, ball fields, walking trails, and 3 fishing piers. Additional amenities include a shared washer/dryer at each building and storage units. The exterior of the properties was recently upgraded and features new landscaping. 616 Betty Lane is located near several major employers, retailers, and entertainment destinations. The properties are a 4 minute drive from Downtown Clearwater, which features over 75 local shops and restaurants. Nearby retailers include Publix (0.8 Mi), Dunkin' (0.4 Mi), Starbucks (1.6 Mi), Walmart (2.4 Mi), Wawa (2.7 Mi), and the Largo Mall (5.0 Mi). Nearby employers include Morton Plant Hospital (1.6 Mi), Clearwater Marine Aquarium (3.1 Mi), and the Gateway Business District (11.8 Mi) with over 2,700 companies and 65,000 employees. Beach goers are within a 10 minute drive of Clearwater Beach, which has been voted the #1 beach in America by Trip Advisor in 2016, 2018 & 2019. Travel is easy with US 19 & Interstate 275 located nearby, which provide convenient access to Downtown St. Petersburg (21.6 Mi), St. Pete Clearwater International Airport (9.0 Mi), Downtown Tampa (22.0 Mi), and Tampa International Airport (17.4 Mi). 616 Betty Lane offers an investor the opportunity to acquire a turn-key asset in a prime Clearwater location with ability to force appreciation through a proven, light, value-add business plan.
Property highlights
- 12 Unit Multifamily Community in Clearwater, FL
- Concrete Block Construction with Majority of Newer Central HVACs
- Unit Mix Consists of Eight 1/1 and Four 2/2 Floor Plans
- Significant Upside with Ability to Increase Rents $330/Month on Average
- Approximately Half of the Interiors Have Been Upgraded in Past 5 Years
- Located Across the Street from Glen Oaks Park Which Features a Tranquil Lake, Fishing Piers, Ball Fields, and Walking Trails
- Located Within 10 Minutes to Clearwater Beach – Voted #1 Beach in America by TripAdvisor in 2016, 2018, & 2019
- Within Minutes of Major Employers Including Morton Plant Hospital (613 Beds & 2,000 Employees), Clearwater Marine Aquarium, and the Gateway Business District (2,700 Companies & 65,000 Employees)