Bella Rosa is concrete Masonry/Block construction, with numerous updates including a newer roof.
This building is a Value-Add purchase with upside potential in the rents. The property has eight One Bedroom / One bath apartments, and Two (2) Two Bedroom / One Bath apartments.
Roof was completed in 2013. The apartments have parking for tenants and visitors with additional street parking. Water, Sewer and Trash are included in the price.
Substantial value-add opportunity with rents approx ($255+ /mo to $380+) /mo per unit below market.
Possible pass through of Water/Sewer costs can monetize this expense and improve the balance sheet.
Currently smaller Pets are welcome with some restrictions. The potential to impart pet fees for future or current tenants is an area to consider adding income.
Providing Laundry On-site is another potential stream of income.
Clearwater has been rated one of America’s best beaches (2019 #1) and has a walkable downtown, waterfront parks, great places to dine out, and a state-of-the-art aquarium.
You’ll also find the Spring Training home of the Philadelphia Phillies as well as phenomenal entertainment venues – all within a short distance of the amazing white sands of Clearwater Beach.
Downtown is the city’s cultural hub, home to galleries and performing arts venues. Waterfront Coachman Park holds music festivals, and the Pinellas Trail (37 miles) of biking and walking.
Location Highlights
Centrally located, Bella Rosa is moments from Clearwater High School and is ideally located east of Downtown Clearwater between two major hospitals in Clearwater and Dunedin.
The pedestrian-friendly Cleveland Street District has eateries serving foods from many countries around the world, plus wine bars, casual pubs, fine dinning and many well know restaurants. All within a 10 minute drive from this property!
Clearwater has experienced a population growth greater than 6% since the year 2000 and is expected to experience even further explosive growth with current trends showing 1,000 people moving to Florida every day. Median household incomes are up over 15% while property values have increased nearly 115% since 2000. Clearwater is primed to see continued growth in all areas of the local economy which will certainly benefit the Subject Property.
Convenient access to US-19 and SR-60 makes for easy travel throughout the Tampa/St. Pete MSA.
20 Minutes to Tampa Airport, Hyde Park, Downtown Tampa, Westshore Mall.
Less than 30 minutes to Downtown St. Petersburg, The St. Pete Pier, The Vinoy, etc
