214 S Highland Avenue, Clearwater, FL 33755
Local realty services provided by:Better Homes and Gardens Real Estate Thomas Group
Listed by: harry d'onofrio
Office: best homes, llc.
MLS#:O6321854
Source:MFRMLS
Price summary
- Price:$598,800
- Price per sq. ft.:$208.5
About this home
Exceptional Investment or Development Opportunity in Prime Clearwater Location
Presenting a rare opportunity to acquire a high-potential triplex nestled on an expansive 15,033 sq ft corner lot in the highly sought-after Downtown Gateway area of Clearwater. This property offers immense promise for both investors seeking immediate returns or developers with an eye for future growth. Zoned to allow for the development of up to 7-8 additional units, this is an outstanding canvas for expansion or redevelopment.
The Property:
This distinctive triplex features three unique units, each with its own character and considerable income-generating potential.
Unit 214B: A spacious 2-bedroom, 1.5-bath residence showcasing beautiful hardwood floors throughout, a generous master suite with a walk-in closet, and a charming bonus room with a cozy fireplace—perfect for a game room or home office. This unit rents for $2,500/month.
Unit 212: A well-designed 1-bedroom, 1-bath unit with separate electric and water meters, offering flexibility for long-term tenants ($1600) or short-term rental opportunities. Ideal for an Airbnb or VRBO investment, with the potential to generate up to $2,000/month.
Unit 214A: An efficiency/studio unit with a full bath, previously generating up to $2,200/month on Airbnb/VRBO. or Longterm rental for $1300 (Please note: Clearwater enforces a minimum 30-day rental restriction.)
Also The property has availability for RV and jet ski parking to generate up to $2500 monthly creating a potential NOI of $82,600 and Cap rate of 6.8%
While the property may require some TLC, it is brimming with potential. With shared utilities between Units 214A and 214B and independent meters for Unit 212, the layout is well-suited for various rental models.
Additional Highlights:
Central A/C in the 2-bedroom unit (installed in 2004), complemented by a mix of central and window units throughout.
Roof replaced in 2017, ensuring peace of mind for the next owner.
Detached storage shed/workshop on the vacant portion of the lot—an excellent space for additional storage or project use.
Developer's Dream:
Situated in Clearwater’s Downtown Gateway district, this property is zoned for up to 35 units per acre, which opens the door to potential development for up to 10 residential units (buyer to verify with the city). Whether you envision expanding the multifamily footprint or redeveloping for a larger project, this is a prime opportunity to capitalize on Clearwater's growing demand for residential space.
Don't Miss Out:
This is a rare investment opportunity in a flourishing area with excellent upside potential. Whether you’re looking for strong cash flow from current tenants or a high-potential development project, this property checks all the boxes. Confirm zoning, building codes, and permitting requirements with the City to ensure a seamless transition to your next vision....
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Home facts
- Year built:1952
- Listing ID #:O6321854
- Added:139 day(s) ago
- Updated:May 04, 2026 at 11:56 AM
Rooms and interior
- Bedrooms:5
- Total bathrooms:4
- Flooring:Wood
- Kitchen Description:Refrigerator
- Bedroom Description:Primary Bedroom Main Floor
- Basement:Yes
- Basement Description:Crawlspace
- Living area:2,064 sq. ft.
Heating and cooling
- Cooling:Central Air, Wall/Window Unit(s)
- Heating:Electric
- Central air:Yes
Structure and exterior
- Roof:Shingle
- Year built:1952
- Building area:2,064 sq. ft.
- Lot area:0.35 Acres
- Construction Materials:Frame
- Exterior Features:Fence
- Foundation Description:Stem Wall
- Levels:1 Story
Schools
- High school:Clearwater High-PN
- Middle school:Oak Grove Middle-PN
- Elementary school:Skycrest Elementary-PN
Utilities
- Water:Public, Water Connected
- Sewer:Public Sewer, Sewer Connected
Finances and disclosures
- Price:$598,800
- Price per sq. ft.:$208.5
- Tax amount:$6,651 (2024)
Features and amenities
- Appliances:Refrigerator
- Amenities:Ceiling Fans(s), Primary Bedroom Main Floor
- Pool features:Public Pool
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