offering memorandum · title offering memorandum

For More Information, Contact:

M A R C P F L E G E R

[email protected]

M U L T I F A M I L Y P R O P E R T Y : F O R S A L E

A D D R E S S N OTD I S C LO S E DC L E A R W A T E R , F L

T A B L E O F C O N T E N T S

M U L T I F A M I L Y P R O P E R T Y F O R S A L E

M A R C P F L E G E R | 7 2 7. 2 6 2 . 5 9 9 [email protected]

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C O N T E N T S C O N F I D E N T I A L I T Y & D I S C L A I M E R

PROPERTY INFORMATION 3

LOCATION INFORMATION 9

All materials and information received or derived from Jay Alan Real Estate its directors,officers, agents, advisors, affiliates and/or any third party sources are provided withoutrepresentation or warranty as to completeness , veracity, or accuracy, condition of theproperty, compliance or lack of compliance with applicable governmental requirements,developability or suitability, financial performance of the property, projected financialperformance of the property for any party’s intended use or any and all other matters.

Neither Jay Alan Real Estate its directors, officers, agents, advisors, or affiliates makes anyrepresentation or warranty, express or implied, as to accuracy or completeness of the anymaterials or information provided, derived, or received. Materials and information from anysource, whether written or verbal, that may be furnished for review are not a substitute fora party’s active conduct of its own due diligence to determine these and other matters ofsignificance to such party. Jay Alan Real Estate will not investigate or verify any suchmatters or conduct due diligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUEDILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verifyall information and to conduct their own inspections and investigations including throughappropriate third party independent professionals selected by such party. All financial datashould be verified by the party including by obtaining and reading applicable documentsand reports and consulting appropriate independent professionals. Jay Alan Real Estatemakes no warranties and/or representations regarding the veracity, completeness, orrelevance of any financial data or assumptions. Jay Alan Real Estate does not serve as afinancial advisor to any party regarding any proposed transaction. All data andassumptions regarding financial performance, including that used for financial modelingpurposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents canbe established at or increased to that level. Parties must evaluate any applicablecontractual and governmental limitations as well as market conditions,vacancy factors andother issues in order to determine rents from or for the property.

Legal questions should be discussed by the party with an attorney. Tax questions should bediscussed by the party with a certified public accountant or tax attorney. Title questionsshould be discussed by the party with a title officer or attorney. Questions regarding thecondition of the property and whether the property complies with applicable governmentalrequirements should be discussed by the party with appropriate engineers, architects,contractors, other consultants and governmental agencies. All properties and services aremarketed by Jay Alan Real Estate in compliance with all applicable fair housing and equalopportunity laws.



P R O P E R T Y I N F O R M A T I O N

SECTION 1


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P R O P E R T Y O V E R V I E W

A 10-unit multifamily community located 8 minutes from Downtown Clearwater inPinellas County, FL. The property is comprised of 1 two-story building that wasconstructed in 1968 and sits on 0.28 acres. The building features concrete blockconstruction with a shingle roof.

This asset offers an investor the opportunity to acquire a high occupancy, value-addasset in one of Clearwater's most prime locations. The property is an excellent candidatefor a light value-add strategy, involving the implementation of strategic interiorcosmetic improvements to capture significant rental increases.

P R O P E R T Y H I G H L I G H T S

• 10-Unit Multifamily Property located 8 minutes from Downtown Clearwater & 10minutes from Clearwater Beach - Rated the #1 Beach in America

• Excellent Value-Add Opportunity w/ Ability to Modernize Interiors & Increase Rentsto Market

• Two-Story Building Featuring Concrete Block Construction

• On-Site Laundry Facility

O F F E R I N G S U M M A R Y

Sale Price: $1,100,000

Building Size: 9,409 SF

Price / SF: $116.91

E X E C U T I V E S U M M A R Y



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P R O P E R T Y D E S C R I P T I O N

A 10-unit multifamily community located 8 minutes fromDowntown Clearwater in Pinellas County, FL. The property iscomprised of 1 two-story building that was constructed in 1968and sits on 0.28 acres. The building features concrete blockconstruction with a shingle roof.

This asset offers an investor the opportunity to acquire a highoccupancy, value-add asset in one of Clearwater's most primelocations. The property is an excellent candidate for a lightvalue-add strategy, involving the implementation of strategicinterior cosmetic improvements to capture significant rentalincreases.

L O C AT I O N D E S C R I P T I O N

The property is located 2.1 miles from Glen Oaks Park where thereare fishing piers, walking trails and ball fields. Only a 10-minutedrive to Clearwater Beach. Major employers nearby includeMorton Plant Hospital, Clearwater Marine Aquarium andClearwater YMCA. Nearby retailers include Publix, Starbucks,Walmart, CVS, LA Fitness and Anytime Fitness.

P R O P E R T Y D E S C R I P T I O N



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L O C AT I O N I N F O R M AT I O N

Street Address Address Not Disclosed

City, State, Zip Clearwater, FL

County Pinellas

Signal Intersection No

B U I L D I N G I N F O R M AT I O N

Occupancy % 100.0%

Number of Floors 2

Free Standing No

P R O P E R T Y H I G H L I G H T S

• 10-Unit Multifamily Property located 8 minutes fromDowntown Clearwater & 10 minutes from Clearwater Beach -Rated the #1 Beach in America

• Excellent Value-Add Opportunity w/ Ability to ModernizeInteriors & Increase Rents to Market

• Two-Story Building Featuring Concrete Block Construction

• On-Site Laundry Facility

C O M P L E T E H I G H L I G H T S



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U N I TN U M B E R

U N I TB E D

U N I TB AT H

L E A S EE N D

C U R R E N TR E N T

1 2 1 $1,195

2 1 1 $825

3 1 1 $825

4 1 1 $695

5 1 1 $758

6 2 1 $1,195

7 1 1 $825

8 1 1 $805

9 1 1 $768

10 1 1 $758

T O TA L S / AV E R A G E S $ 8 , 6 4 9

R E N T R O L L



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A D D I T I O N A L P H O T O S




L O C A T I O N I N F O R M A T I O N

SECTION 2


10

Clearwater, FL

R E G I O N A L M A P



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L O C A T I O N M A P S


offering memorandum · title offering memorandum

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