701 Madison AveClearwater, FL 33756

This fully furnished, one-unit apartment building in Clearwater, Florida presents a compelling short-term rental investment opportunity. Located just 10 minutes from Clearwater Beach, this 938 square foot, two-bedroom, two-bathroom condo boasts a contemporary design with granite countertops and a split bedroom plan for optimal privacy. The unit includes an in-unit washer and dryer and is professionally decorated. The building, constructed in 1985 and renovated in 2006, is part of a 100-unit complex that permits 30-day rentals, providing a stable foundation for consistent income generation. Based on historical data, the property generates a net operating income (NOI) of $24,000 annually, with a pro-forma NOI of $30,000. This translates to a current cap rate of 12.66% and a pro-forma cap rate of 15.83%. The asking price is $189,500, representing a price per square foot of $202.03. Cleaning services are already in place, simplifying management. The property's proximity to Clearwater Beach, one of the world's top-rated beaches, and its convenient location 30 minutes from Tampa International Airport, ensures strong rental demand. This turnkey investment is ideal for those seeking immediate cash flow and significant return on investment. The property is a Class B, five-story building within a larger complex. Ownership is held by an LLC. The address is 701 S Madison Ave, Clearwater, FL 33756.