628 Mandalay AVENUE, Clearwater Beach, FL, 33767 | $7,900,000
Discover a unique opportunity to own three desirable parcels of land on stunning Clearwater Beach, a premier tourist destination renowned for its beautiful white-sand beaches and vibrant atmosphere. This prime location boasts high demand for vacation rentals, making it an ideal investment for those looking to capitalize on the flourishing rental market or scoop up land for a development.
Spanning a total of 0. 30 acres, the property currently features 11 well-maintained rental units, comprising a charming 5-unit apartment building, two inviting duplexes, and two standalone cottages. Each unit offers a cozy retreat for guests, enhanced by sought-after amenities such as a relaxing hot tub and a communal outdoor space that encourages socializing and relaxation.
Situated just 100 steps from the beach, this property is perfectly positioned for vacationers, being a mere 6 blocks north of the iconic Pier 60, and only 3 blocks from the beloved Frenchy’s Rockaway. Guests will enjoy easy access to sun-soaked shores, lively entertainment, and delicious dining options.
Notably, this property was untouched during the 2024 hurricane season, ensuring peace of mind for future owners. With the potential for further development on the expansive 0. 30 acres, this is an exciting opportunity for investors to enhance or expand the existing rental portfolio or create a brand-new venture that could meet the ever-growing demand for accommodations in this bustling tourist hotspot.
Clearwater Beach, Florida, is renowned for its stunning white sandy shores and crystal-clear waters, making it a prime destination for beach lovers. Voted America's Best Beach multiple times, it boasts a vibrant atmosphere with a variety of dining, shopping, and recreational activities. Visitors can enjoy long walks on the beach, morning jogs on the Beach Walk, water sports, and stunning sunsets, all contributing to its reputation as a top vacation spot.
Don’t miss out on this rare chance to invest in a thriving market on Clearwater Beach—where every day feels like a vacation! Contact us today to learn more about this incredible property and the possibilities it holds.
Features
- Units: 11
- Lot Size: 100 x 87
- Laundry: Inside
- Year Built: 1935
- Garage: Ground Level
- Heating: Central, Electric
- Cooling: Central Air
- Approx Sq. Feet: 7,326
- Acreage: 0.3
- Lot Size: 100 x 87
- Est. Taxes: $40,867
- Lot Desc: Corner Lot, Flood Insurance Required, FloodZone, City Lot, Near Marina, Near Public Transit
- Pet Policy: Yes
- Lease Terms: >6 Months <12
- MLS#: TB8333496
- Days on Market: 9 days
- Website: https://www.raveis.com
/prop/TB8333496/628mandalayavenue_clearwaterbeach_fl?source=qrflyer
Listing courtesy of ENGEL & VOLKERS MADEIRA BEACH Phone: 727-394-7365
William Raveis Family of Services
Our family of companies partner in delivering quality services in a one-stop-shopping environment. Together, we integrate the most comprehensive real estate, mortgage and insurance services available to fulfill your specific real estate needs.
Customer Service
888.699.8876
Contact@raveis.com
Our family of companies offer our clients a new level of full-service real estate. We shall:
- Market your home to realize a quick sale at the best possible price
- Place up to 20+ photos of your home on our website, raveis.com, which receives over 1 billion hits per year
- Provide frequent communication and tracking reports showing the Internet views your home received on raveis.com
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- Give you the full resources and strength of William Raveis Real Estate, Mortgage & Insurance and our cutting-edge technology
To learn more about our credentials, visit raveis.com today.
Melissa CohnRVP, Mortgage Banker, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 16953
917.838.7300
Melissa.Cohn@raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
- Offers you pre-approval in minutes!
- Provides a guaranteed closing date that meets your needs
- Has access to hundreds of loan programs, all at competitive rates
- Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction
Robert ReadeRegional SVP Insurance Sales, William Raveis Insurance
860.690.5052
Robert.Reade@raveis.com
Our Insurance Division:
- Will Provide a home insurance quote within 24 hours
- Offers full-service coverage such as Homeowner's, Auto, Life, Renter's, Flood and Valuable Items
- Partners with major insurance companies including Chubb, Kemper Unitrin, The Hartford, Progressive,
Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable
628 Mandalay AVENUE, Clearwater Beach, FL, 33767
$7,900,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Melissa Cohn
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
|
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
|---|---|---|---|
| Loan Amount | $6,320,000 | $6,320,000 | $6,320,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 7.000% | 6.625% | 6.625% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 7.200% | 6.748% | 6.786% |
| Monthly Tax Payment | $3,406 | $3,406 | $3,406 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $42,047 | $40,468 | $55,489 |
| Total Monthly Payment | $45,578 | $43,999 | $59,020 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
FL Mortgage Lender MLD1388