309-312 Avanda Court — Sale in Clearwater, FL
- Price: Contact for price
- Listing type: For sale
- Asset type: Multifamily Property
- Location: Clearwater, FL 33756
Photos
Investment Figures
- Cap rate
- 6.42%
Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.
Description
Renovated 14-unit apartment community ideally positioned in the rapidly revitalizing Downtown Clearwater submarket Investment Highlights: • Renovated 14-unit apartment community ideally positioned in the rapidly revitalizing Downtown Clearwater submarket • Priced Below Recent Comparable Sales: Pricing is about 15% below the $176,079/unit sales comp average • Desirable unit mix consisting primarily of spacious two-bedroom/one-and-a-half-bathroom floor plans • Significant value-add opportunity to increase Effective Gross Income by approximately 23% through light interior renovations and bringing below-market rents to current market levels • Concrete block construction across all three residential buildings • Attractive combination of in-place cash flow and operational upside, creating an opportunity for immediate income with meaningful future appreciation potential • Less than one mile from Downtown Clearwater, offering walkable access to Cleveland Street's restaurants, breweries, shopping, entertainment and the city's expanding waterfront district
Market Context
This multifamily in Clearwater, FL is listed for sale. It is offered at an approximate 6.4% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Clearwater, FL — view the full market.
As of Q4 2025, the Tampa multifamily market showed a 10.3% vacancy rate, average asking rents near $1818.00/unit/mo, and cap rates around 5.7%. Source: multiple brokerage reports, Q4 2025.
Its 6.4% asking cap rate is above the Tampa multifamily market average of about 5.7%, implying a higher yield (and typically more risk or upside) than comparable assets.
Multifamily market FAQ
- What is the typical cap rate for multifamily in Tampa?
- About 5.7% as of Q4 2025, per multiple brokerage reports.
- Is the Tampa multifamily market tightening or softening?
- Vacancy is around 10.3% (Q4 2025).
Contact
- Zach Brown · (813) 387-4762 · zach.brown@marcusmillichap.com
- Ned Roberts, CCIM · (813) 387-4721 · ned.roberts@marcusmillichap.com
- Jason Hague · (813) 387-4754 · jason.hague@marcusmillichap.com
- Garrett Fierstein · (407) 557-3862 · garrett.fierstein@marcusmillichap.com
Explore this market
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