701 Madison AveClearwater, FL 33755

This exceptional investment opportunity presents a stabilized, Class B apartment building located at 701 S Madison Ave, Clearwater, FL 33755. The property, built in 1985 and renovated in 2006, boasts a single unit within a larger 100-unit condo complex, offering the potential for both annual and short-term rentals. The 938 square foot unit features a contemporary design with a split floor plan, granite countertops, and in-unit laundry. Recent upgrades include a new stove, refrigerator, dishwasher, washer, dryer, and AC system. The property's strong financial performance is highlighted by an asking price of $166,000, a price per square foot of $176.97, and a current NOI of $14,800, resulting in an 8.92% cap rate. The building is a five-story structure situated just 10 minutes from Clearwater Beach, one of the world's highest-rated beaches, and 30 minutes from Tampa International Airport. The complex allows 30-day rentals, adding to the property's versatility and income potential. This is a motivated seller seeking a quick cash close. The property is held within an LLC.