$338,800
A Rare High-Appreciation Investment Opportunity in Downtown Clearwater! This property is located in a prime downtown location, with no HOA , in a Flood Zone X. This is a two-story duplex. Each unit is approximately 1,080 sq ft and includes 2 bedrooms and 1 bathroom. There is also a detached garage of approximately 300 square feet next to the main building. At present, the major preliminary work for the permit application has already been completed. The seller has obtained a complete set of architect-prepared permit drawings covering the entire property. The plans include a complete redesign and renovation of the existing two residential units, as well as the conversion of the detached garage into a third residential unit. In addition to completing the drawings required for the permit application, the seller has invested a significant amount of time and money in the preliminary preparation work, including removing the ceilings and flooring, demolishing the kitchens and bathrooms, clearing the backyard and repairing the fence, and professionally removing and trimming large trees affecting the property. Multiple large roll-off dumpsters were used to remove construction debris and other materials. The next owner will not need to start from scratch and can proceed directly with the permit application and renovation. Except for the roof (replaced in 2014), every other part of the property requires a complete renovation. Once the proposed renovation plan is completed, the property is expected to become a newly renovated triplex with approximately 2,460 sq ft of living space. Its resale value is expected to be significantly higher than comparable properties currently on the market. This property is ideal for contractors, renovation buyers, or owner-occupants seeking a property with strong long-term potential.
4
Beds
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2
Baths
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Hibiscus Gardens
SubDv.
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33756
Zip Code
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TB8536909
MLS
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Active
Status
1216 Franklin Circle, Clearwater
