111 N LADY MARY DRIVE, Clearwater, FL 33755

• 13,056 sqft

Property Description

Kings Court Apartments - an 18-unit value-add multifamily asset in central Clearwater, minutes from downtown and the Gulf beaches and directly across from Clearwater Country Club. The mix is seven 1BD/1BA and eleven 2BD/2BA in a two-story CBS garden-style building. Major capital is already in place: a 40-year TPO roof installed within the last ~3 years, newer HVAC across most units, copper wiring, and a resurfaced lot - the next owner's capital goes into interiors, not systems. In-place rents (avg ~$1,366) sit well below a renovated pro forma (~$1,694), with staggered 2026-27 lease expirations offering a turn-by-turn mark-to-market path supported by a comp set averaging ~$1,676. Trailing NOI ~$220K; pro forma ~$242K. Laundry and RUBS utility reimbursement add income. Tours by appointment through Rider RE only - please do not disturb tenants.

Listing Status:

Active

Date Added:

June 22, 2026

Data Last Updated:

July 5, 2026 at 3:24AM

Listing Office:

G&R REAL ESTATE BROKERAGE, LLC : 404-368-8072

Listing Agent:

William Gryboski : 404-368-8072

MLS ID:

A4697854

Interior

• Appliances: Refrigerator
• A/C: Central Air
• Heating: CentralElectric

Construction

• Roofing: Membrane
• General: BlockTwoSlab

Location

• Road/Access: City Street
• Originating MLS: Stellar MLS
• County: Pinellas

Lot

• Zoning: BROOKWOOD TERRACE REVISED BLK 1LOTS 56 AND N 1/2 OF LOT 715-29-15-12276-001-0050

Utilities

• Utilities: Electricity AvailablePublicWater ConnectedSeparate Meters
• Water: Public
• Sewer: Public Sewer

Financial

• Source: Stellar MLS
• Ownership: Fee Simple