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Key Details
Sold Price $1,900,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 4,054 sqft
Price per Sqft $468
Subdivision Isle Of Palms
MLS Listing ID U8180789
Sold Date 11/23/22
HOA Y/N No
Originating Board Stellar MLS
Year Built 1971
Annual Tax Amount $12,132
Lot Size 6,534 Sqft
Acres 0.15
Lot Dimensions 50x149
Property Description
The views are simply spectacular! A rare opportunity to own a stunning six-unit waterfront apartment building situated in the highly sought-after Isle of Palms neighborhood of Treasure Island, Florida! Wide Open Views with 58 feet of seawall, a gorgeous large observation deck, and easy access to the Gulf of Mexico and Tampa Bay. This low-maintenance block construction building has been meticulously maintained inside and out with beautiful landscaping and ten parking spaces. This building features an abundance of natural light with great floorplans. Three units are 2/1 – Two bedroom one bath with kitchen, dining and living rooms. The remaining three units are 1/1 – One bedroom one bath with kitchen dining and living rooms as well. Current Rents are substantially under market with 4 month-to-month tenants and 2 owner units. Projected Income based on market rates in the area: $2000 - $2500 2 Bedroom Units and $1800-$2200 for the One Bedroom Units. The current property expenses: 2021 Taxes $11,647.46, Insurance Liability $2500, Wind $6,400, Flood $5200. Water/Garbage/Sewer for all units currently paid by Owner $490/Month. Electric (Separately metered tenants pay individually) House Electric $40/month. On Site Laundry is currently included in rent but could be changed to coin operation for additional income. This phenomenal property is located only minutes from the sandy beaches of Treasure Island, shopping, water activities, great restaurants, sunset beach walks and more – this is truly an amazing opportunity!
Location
State FL
County Pinellas
Community Isle Of Palms
Interior
Interior Features Ceiling Fans(s), Kitchen/Family Room Combo, L Dining, Living Room/Dining Room Combo, Master Bedroom Upstairs
Heating Central
Cooling Central Air
Fireplace false
Exterior
Exterior Feature Hurricane Shutters, Sidewalk, Storage
Utilities Available Cable Available, Electricity Available
Waterfront Description Bay/Harbor
View Y/N 1
Water Access 1
Water Access Desc Bay/Harbor
Roof Type Other
Garage false
Private Pool No
Building
Foundation Block
Lot Size Range 0 to less than 1/4
Sewer Public Sewer
Water Public
Structure Type Block
New Construction false
Others
Senior Community No
Ownership Fee Simple
Special Listing Condition None
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