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Key Details
Sold Price $425,000
Property Type Multi-Family
Sub Type Duplex
Listing Status Sold
Purchase Type For Sale
Square Footage 998 sqft
Price per Sqft $425
Subdivision Sunny Shores
MLS Listing ID T3373553
Sold Date 06/30/22
Construction Status Financing
HOA Y/N No
Originating Board Stellar MLS
Year Built 1951
Annual Tax Amount $3,366
Lot Size 3,049 Sqft
Acres 0.07
Lot Dimensions 50.0X60.0
Property Description
Incredible opportunity to own this charming Maderia Beach duplex located just steps to the water! Both units are currently tenant occupied and below market rate providing a perfect value add opportunity for the new buyer. The unit mix consists of two 1 bed, 1 bath units, both featuring, wonderful screened-in porches, small storage closets, and separate driveways for each unit. The property currently operates right around a 4% CAP rate, however, Increasing the rents to market rate put it at a 6.3% CAP rate. Perfect opportunity for an Investor looking for passive income in one of Florida's most desired and relaxed beach towns around! Also, the potential for an owner occupant to live in one unit and have the other tenant pay your mortgage once leases expire. Both leases are currently through Dec. 31st, 2022. Visit Crexi Link to view OM: https://www.crexi.com/properties/825769/florida-maderia-beach-duplex---63-cap. Don't delay & schedule your showing today!
Location
State FL
County Pinellas
Community Sunny Shores
Direction E
Interior
Interior Features Kitchen/Family Room Combo, Open Floorplan, Other, Thermostat
Heating Central
Cooling Central Air
Flooring Tile
Fireplace false
Appliance Range, Refrigerator
Laundry Laundry Closet
Exterior
Exterior Feature Fence, Sidewalk, Storage
Parking Features None
Community Features Sidewalks
Utilities Available Cable Available, Cable Connected, Electricity Available, Electricity Connected, Street Lights
Roof Type Shingle
Porch Front Porch, Porch, Screened
Garage false
Private Pool No
Building
Lot Description City Limits
Foundation Slab
Lot Size Range 0 to less than 1/4
Sewer Public Sewer
Water Public
Structure Type Block
New Construction false
Construction Status Financing
Schools
Elementary Schools Orange Grove Elementary-Pn
Middle Schools Seminole Middle-Pn
High Schools Seminole High-Pn
Others
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash, Conventional, FHA, VA Loan
Membership Fee Required None
Listing Terms Cash, Conventional, FHA, VA Loan
Special Listing Condition None
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Bought with CHARLES RUTENBERG REALTY INC