Own a small multifamily property in Clearwater, FL and want to sell? Cash purchase of triplexes, fourplexes and small apartment buildings with tenants in place, deferred maintenance and code issues. Written offer within 24 hours.
Small multifamily properties in Clearwater, the triplexes and fourplexes near downtown and in Greenwood and North Greenwood, the converted houses off Drew Street, the eight- and twelve-unit buildings along the older corridors, were long a dependable way for a local owner to build income. The owners of many of them are now older, tired, or living elsewhere, and the ledger has changed: commercial-style insurance that has risen faster than rents, non-homestead property taxes, roofs and plumbing serving several units at once, tenants who are harder to replace, and a City of Clearwater Code Compliance Division that pays attention to rental housing standards. Selling a small apartment building through a listing means financials, inspections of every unit, and a buyer whose commercial loan takes months.
Clearwater Cash Buyers buys small multifamily properties from their owners throughout Clearwater and north Pinellas, occupied or vacant, in any condition, with a written offer within 24 hours of the visit and a closing on your date. This page is for the owner who wants to sell: it explains how a sale with tenants in every unit works, how leases and deposits transfer, what happens with deferred maintenance and code cases, and the tax points to consider before you close.
How it works
- Tell us about the house — address and condition. Two minutes.
- Get a fair cash offer — based on real Clearwater-area values. No obligation.
- You choose closing — 7 days or on your schedule. We pay the customary closing costs.
Selling your building with every unit occupied
Leases continue with the new owner; a sale does not end them. Security deposits transfer at closing with the notice to each tenant that Florida's landlord-tenant statute requires, and rents for the month are prorated on the settlement statement. We schedule the visit with notice to each tenant and their consent, as Florida's landlord-tenant statute requires for a showing, and we can walk units with you or with your manager. Month-to-month tenants, long-term tenants with old leases, tenants behind on rent and units in eviction are all situations we buy with. From the closing date the tenants pay us and call us, and your management obligations end.
Why owners sell to us rather than list
Listing a small apartment building invites requests for rent rolls, leases, expense statements, inspections of every unit and an appraisal that leans on income. The buyer's commercial or portfolio lender then takes weeks to months, and the deal is exposed to the lender's view of the building's condition and the tenancy. We evaluate the building ourselves in one visit, price it on its actual condition and rents, pay the customary closing costs, and charge no commission. The offer is below what a fully renovated, fully stabilized building would list for; the comparison is against your net after the renovation you are not doing, the vacancy you are not creating, the commission you are not paying and the months you are not waiting.
Deferred maintenance across several units
A multifamily roof, electrical service, plumbing stack or sewer lateral serves everyone at once, and when it fails the bill is multiplied. We buy buildings with roofs insurers no longer accept, aging panels and meters, cast iron drains, failed air conditioners in some units, and the deferred interior work that tight margins leave behind. If the City of Clearwater has an open case on the property, for minimum housing standards, exterior conditions or unpermitted conversions, it passes to us at closing with the written disclosure and five-day notice to the city that Florida requires, which we prepare, and any lien is settled on the settlement statement. You make no repairs and give no credits.
Insurance, taxes and the exit decision
Many Clearwater multifamily owners are selling because insurance has become the largest line on the expense statement, with carriers non-renewing older buildings and premiums that rents cannot absorb. Non-homestead property taxes with the 10 percent cap and no exemption add to it. When you sell, depreciation taken over the years is recaptured and the gain is taxable, unless you defer it through a 1031 exchange into another investment property, which requires a qualified intermediary engaged before closing and strict deadlines afterward. A cash sale with a certain closing date fits an exchange timeline. A tax professional should run your numbers; we provide the written offer within 24 hours of the visit so that planning can start with a real figure.
Converted houses, unpermitted units and zoning
Some of Clearwater's small multifamily stock began life as single-family homes converted into two, three or four units over the decades, not always with permits, and some sit on parcels whose zoning no longer allows the current use except as a legal nonconforming one. These questions stop financed buyers cold and can draw the city's attention. We buy converted and nonconforming properties as they are, price the risk and the possible permitting work into the offer, and take responsibility for the building's status with the city after closing. Tell us what you know about the building's history; it helps the price more than it hurts.
How the sale runs
Send the address, the number of units, current rents and whatever you know about leases and condition. We arrange a visit with notice to the tenants, deliver a written offer within 24 hours of the visit, and open title when you accept. The Pinellas County title company prorates rents, transfers deposits with notice to tenants, pays off any mortgage and closes in about a week once the search is clean, or on a later date you choose. If you own more than one building in Clearwater, we can buy them together on one timeline. If your building is well maintained and fully stabilized, holding or listing it may serve you better and we will say so.
Frequently asked questions
Can I sell my Clearwater fourplex with tenants in every unit?
Yes. Leases continue with the new owner, deposits transfer at closing with notice to each tenant, and rents are prorated on the settlement statement.
Two of my tenants are behind and one is in eviction. Is that a problem?
No. We buy with the tenancy as it stands and take over the landlord's position, including pending cases, at closing.
Do I need to provide rent rolls, financials and inspections?
Basic rents and lease terms help us price accurately, but we evaluate the building ourselves in one visit and do not require the package a commercial lender would.
Can I use a 1031 exchange when I sell to you?
Yes. Engage a qualified intermediary before closing; the certain closing date of a cash sale fits the exchange deadlines. A tax professional should guide the structure.
The building was converted from a house years ago without permits. Will you still buy it?
Yes. We price the permitting and zoning questions into the offer and take responsibility for the building's status with the city after closing.
Looking to buy, not sell?
This page is for owners selling. If you are an investor who buys in Clearwater and Pinellas County, we occasionally have off-market properties we are not keeping. Leave your details and we will let you know when something fits; no spam, and you can opt out any time.