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885 Beltrees St 16 Unit Apartment Building $5,169,375 CAD ($323,086 CAD/Unit) 5.87% Cap Rate Dunedin, FL 34698
INVESTMENT HIGHLIGHTS
- 4 New Roofs; New Electrical, New HVAC and 10/6 Units Renovated
- 100% Occupied with immediate income.
- Significant Upside Potential
- Minutes to Downtown and Waterfront - Strong Rental Market
- Close to many amenities - including Clearwater Beach and Honeymoon Island
- Beltrees St Frontage!
EXECUTIVE SUMMARY
Charming Multifamily Investment Opportunity in Dunedin, FL
Greatly-maintained 16-unit multifamily in the heart of coastal Dunedin, Florida — now priced at $3,750,000 after a $250K reduction.
Located just minutes from both the beach and downtown Dunedin, this property has strong in-place income, modern systems, and clear upside. With 10 units already renovated and 6 ready for cosmetic upgrades, a new buyer can easily improve returns without major capital expense.
All major systems have been updated (roof, electrical, plumbing), and the property has no hurricane damage. Ownership is free and clear and open to SELLER FINANCING for qualified buyers.
Upside Potential:
Renovate the 6 classic units to increase rents and cash flow
Explore mid-term or furnished rentals to tap into Dunedin’s tourism market
Add laundry income or implement RUBS for utility recovery
Brand the property with a coastal boutique style for long-term equity gains
Optimized Living with Future Enhancements:
Investors will appreciate the proactive maintenance efforts: a new fence installation is complete to replace minor hurricane damage, ensuring enhanced security and privacy for residents. This update, along with new pavement for the back apartments, will be completed soon, offering the new owner peace of mind and minimal upkeep requirements. Despite its proximity to coastal weather influences, the property has sustained virtually no damage, standing in mint condition and ready for immediate occupancy. NONE FLOOD ZONE.
This property not only promises consistent income through its existing tenancies but also holds potential for significant returns on short-term rentals, thanks to its prime location near top-rated beaches, eclectic shops, and gourmet dining. The dual rental strategy enables balancing reliable income with high-profit short-term accommodations, making it an ideal choice for savvy investors seeking to capitalize on Florida’s booming rental market.
Disclosure: The new fence installation is a response to minor hurricane damage; no other impacts have been noted. This timely enhancement, along with the strategic location and substantial upgrades, firmly positions 885 Beltrees St as a premier property in Dunedin’s competitive real estate market.
Greatly-maintained 16-unit multifamily in the heart of coastal Dunedin, Florida — now priced at $3,750,000 after a $250K reduction.
Located just minutes from both the beach and downtown Dunedin, this property has strong in-place income, modern systems, and clear upside. With 10 units already renovated and 6 ready for cosmetic upgrades, a new buyer can easily improve returns without major capital expense.
All major systems have been updated (roof, electrical, plumbing), and the property has no hurricane damage. Ownership is free and clear and open to SELLER FINANCING for qualified buyers.
Upside Potential:
Renovate the 6 classic units to increase rents and cash flow
Explore mid-term or furnished rentals to tap into Dunedin’s tourism market
Add laundry income or implement RUBS for utility recovery
Brand the property with a coastal boutique style for long-term equity gains
Optimized Living with Future Enhancements:
Investors will appreciate the proactive maintenance efforts: a new fence installation is complete to replace minor hurricane damage, ensuring enhanced security and privacy for residents. This update, along with new pavement for the back apartments, will be completed soon, offering the new owner peace of mind and minimal upkeep requirements. Despite its proximity to coastal weather influences, the property has sustained virtually no damage, standing in mint condition and ready for immediate occupancy. NONE FLOOD ZONE.
This property not only promises consistent income through its existing tenancies but also holds potential for significant returns on short-term rentals, thanks to its prime location near top-rated beaches, eclectic shops, and gourmet dining. The dual rental strategy enables balancing reliable income with high-profit short-term accommodations, making it an ideal choice for savvy investors seeking to capitalize on Florida’s booming rental market.
Disclosure: The new fence installation is a response to minor hurricane damage; no other impacts have been noted. This timely enhancement, along with the strategic location and substantial upgrades, firmly positions 885 Beltrees St as a premier property in Dunedin’s competitive real estate market.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
PROPERTY FACTS
| Price | $5,169,375 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $323,086 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.68 AC |
| Cap Rate | 5.87% | Building Size | 8,836 SF |
| No. Units | 16 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1967 |
| Property Subtype | Apartment | Parking Ratio | 2.49/1,000 SF |
| Zoning | PR-D - A Planned Residential Development (PRD) zoning designation, often called PRD, is a flexible land use control method that allows for development. | ||
| Price | $5,169,375 CAD |
| Price Per Unit | $323,086 CAD |
| Sale Type | Investment |
| Cap Rate | 5.87% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.68 AC |
| Building Size | 8,836 SF |
| No. Stories | 1 |
| Year Built | 1967 |
| Parking Ratio | 2.49/1,000 SF |
| Zoning | PR-D - A Planned Residential Development (PRD) zoning designation, often called PRD, is a flexible land use control method that allows for development. |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Microwave
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Tile Floors
- Eat-in Kitchen
- Refrigerator
- Oven
- Walk-In Closets
- Dining Room
- Porch
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- Laundry Service
- Smoke Free
- Storage Space
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 16 | - | - |
1 1
Walk Score®
Very Walkable (73)
PROPERTY TAXES
| Parcel Number | 35-28-15-38088-000-0083 | Improvements Assessment | $1,611,906 CAD (2025) |
| Land Assessment | $938,319 CAD (2025) | Total Assessment | $2,550,225 CAD (2025) |
PROPERTY TAXES
Parcel Number
35-28-15-38088-000-0083
Land Assessment
$938,319 CAD (2025)
Improvements Assessment
$1,611,906 CAD (2025)
Total Assessment
$2,550,225 CAD (2025)
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885 Beltrees St
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