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$600,000
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Property Description
Welcome to 1959 Rainbow Drive-a versatile multifamily treasure nestled in the Sky Crest neighborhood of Clearwater. Built in 1953 and spread across a generous 0.27-acre lot, this solid stucco structure spans a spacious 2,931 square feet of living space . Ideal for investors or owner-occupiers seeking income potential, this property features multiple rentable units (two efficiencies, two one-bedroom units, and one two-bedroom unit), each consistently leased and generating reliable rental income. Amenities include: Ample parking: Carports accommodate three full-sized vehicles plus one compact car On-site laundry facility Simplified utilities: A single water meter covers the entire property, While each unit has its own electric meter. Move-in-ready status: All units are functional with tenants in place. This is a fully operational rental business and is non-distressed. Situated in a convenient Clearwater locale, the property offers easy access to Clearwater Beach, Tampa Airport, Downtown Clearwater, and is well-positioned between thriving residential and commercial corridors.
Full Property Details
Full Property Details for 1959 Rainbow Dr
General
- Sold For: $600,000
- Taxes: $8,273 (2024)
- Status: Closed
- Type: Multi-Family
- Source: MidFloridaRegionalMLS
- MLS ID: TB8416109
- Added to Site: 159 day(s) ago
Interior
- Interior Features: Ninguno
Rooms
Bathrooms
- Total Bathrooms: 5
Bedrooms
- Total Bedrooms: 6
Other Rooms
- Laundry: Common Area
Exterior
- Exterior Features: Outbuilding
Parking
- Carports: Yes
- Carport: 4
- Carport Spaces: 4
- Covered Spaces: 4
Location
- Area: 33765 - Clearwater/Sunset Point
- County: Pinellas
- Development Name: 33765 - Clearwater/Sunset Point
- Subdivision: SKY CREST UNIT 7
- Driving Directions: From US 19 N. and Gulf to Bay Blvd (SR60) Head West on Gulf to Bay Blvd.; Head 1.59 Miles on Gulf to Bay Blvd and make a Right on to S. Aurora Ave.; Head 0.12 miles down S. Aurora Ave. until you get to the Rainbow Dr. Intersection.; The property sits on the Southwest corner of Rainbow Dr. and Aurora Ave.
Community
- Community Name: 33765 - Clearwater/Sunset Point
Heating & Cooling
- Cooling Type: Central Air, Mini-Split Unit(s)
- Heating Type: Central, Other
Utilities
- Sewer: Public Sewer
- Water: Public
- Utility Description: Cable TV Available, Electricity Connected, Phone Available, Sewer Connected, Water Connected
Structural Information
- # Buildings: 1
- Exterior Const.: Block
- Roof: Shingle
- Square Feet: 2,931
- Sq. Ft. Source: Appraiser
- Living Area: 2,931 Sq. Ft.
- Year Built: 1953
Lot Features
- Lot Size (Acres): 0.27
- Lot Size (Sq. Ft.): 11,888
- Lot Size: 11888
- Lot Dimensions: 135 x 88
- Street/Road Desc.: Asphalt
Financial Considerations
- Tax Amount: $8,273
- Tax Year: 2024
Disclosures and Reports
- Ownership: Fee Simple
- Special Conditions: None
- Legal Description: SKY CREST UNIT NO. 7 BLK B, LOT 10
- Flood Zone Info: X
- APN: 132915824940020100
- Property ID: 132915824940020100
- Block/Lot/Section: B
Listed by Coastal Properties Group International
Sold by Stonebridge Real Estate Co
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Schools
Schools serving 1959 Rainbow Dr
School District:Pinellas County School District
| Name | Grades | Distance |
|---|---|---|
Skycrest Elementary School 10 North Corona Avenue, Clearwater, FL 33765 | PK-5 | 0.4 mi |
Oak Grove Middle School 1370 South Belcher Road, Clearwater, FL 33764 | 6-8 | 1.2 mi |
Clearwater High School 540 South Hercules Avenue, Clearwater, FL 33764 | 9-12 | 0.2 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1959 Rainbow Dr
Date
Details
Price
Change
Source
12/11/2025
Sold
$600,000
-11.76%
MLS
9/19/2025
Price Reduced
$680,000
-2.16%
MLS
8/10/2025
Listed
$695,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
1959 Rainbow Drive, Clearwater, FL 33765 (MLS# TB8416109) is a Multi-Family property that was sold at $600,000 on December 11, 2025. Want to learn more about 1959 Rainbow Drive? Do you have questions about finding other Multi-Family real estate for sale in Clearwater? You can browse all Clearwater real estate or contact a Coldwell Banker agent to request more information.

