TURN KEY FULLY FURNISHED 4-Unit Investment in St Pete Beach

650 70th Avenue, St Pete Beach, FL

$2,890,000

Price

5.83%

Cap Rate

$168,397

NOI

Overview
Cap Rate
5.83%
NOI
$168,397
Building Size
3,112 sqft
Lot Area
0.1433 acres
Units
4
Year Built
1960
Floors
2
Description

A Beach Paradigm for Vacation Living. Retreat from the daily hustle for a latitude adjustment at this jaw-dropping, TURN KEY FULLY FURNISHED 4-unit property located in St. Pete Beach, the sunset capital of Florida. From this perfectly located, corner lot with 6 off-street, private-parking spots, you are a brief 150 yards from award-winning St. Pete Beach, named TripAdvisor’s #1 beach in the U.S.A. and #5 in the World in 2021! You are a short walk or bike ride to historic Corey Avenue where you can shop, dine & unwind at the many local bars, restaurants & retail that make up the heart of St. Pete Beach. Tucked away just steps from Upham Beach, you & your guests are welcomed with a neighborhood feel surrounded by locals & visitors alike and also provided with quick access to nearby beaches, the endless waterfront restaurants to enjoy a bite & live music and many family-friendly beach activities, via Gulf Blvd. Upon arrival, you & your guests will be impressed by the all-new, Florida-style tropical landscaping that is freshly laid sod with reclaimed water irrigation out front and the low-maintenance artificial turf & stone xeriscape that make up the resort-style living area around back. There is also a separate storage building (with plumbing and electrical available) to securely house your kayaks, beach chairs, bikes, paddle board and any other outdoor equipment. The entire property features new, shell landscaping, native plants and beautiful palms creating a picturesque haven to soak in the Florida sun, host & entertain or relax & enjoy cocktail hour on the patio. This one-of-a-kind property consists of two 1-bedroom units and two 2-bedroom units, private front & back entry to indoor stairways making way to both the 1st and 2nd floor units that all have private access from the entryways. Once inside, there is immediate entry to both lower-level units and a stairway leading to both second-level units. Each newly renovated suite is complete with a brand-new kitchen & stainless-steel appliances, bathroom with walk-in, frameless glass shower, ceiling fans & mini-split AC units, sizable bedroom closets, a combined washer & dryer and luxury vinyl plank flooring throughout. The building as a whole, boasts new oversized, impact-rated windows and entry doors providing ample natural light and the 2nd level, west-facing unit allows for views of the Gulf of Mexico & St. Pete Beach’s world-famous sunsets from both the primary and second bedrooms. While the structure was existing, there were no shortcuts in the renovation process as it was gutted down to the block walls and floor joists and updated with modern finishes high and low. Beyond what you can see, there is new insulation from floor to ceiling, new electrical wiring run & new plumbing placed from building to street. Don’t let someone beach you to it! This investment is optimal for a group vacation spot, individual 30-day rentals or someone who wants to use it as a multi-generational compound to enjoy with their own children, grandchildren & their families. The memories to be made here are invaluable. Sea la vie.

Located in St. Pete Beach, the sunset capital of Florida. From this perfectly located, corner lot with 6 off-street, private-parking spots, you are a brief 150 yards from award-winning St. Pete Beach, named TripAdvisor’s #1 beach in the U.S.A. and #5 in the World in 2021! You are a short walk or bike ride to historic Corey Avenue where you can shop, dine & unwind at the many local bars, restaurants & retail that make up the heart of St. Pete Beach. Tucked away just steps from Upham Beach, you & your guests are welcomed with a neighborhood feel surrounded by locals & visitors alike and also provided with quick access to nearby beaches, the endless waterfront restaurants to enjoy a bite & live music and many family-friendly beach activities, via Gulf Blvd.

Highlights
  • Turn Key Investment Property
  • Fully Furnished with Brand New High-End Furnishings (Over $60,000 Value)
  • $5,000 Buyer Rep Incentive
  • Start Cash Flowing Immediately
  • Steps away from Upham Beach
  • Front Yard boasts all-new, Florida-style tropical landscaping
  • Freshly laid sod with reclaimed water irrigation
  • Low-maintenance artificial turf & stone xeriscape patio in back
  • A separate storage building (with plumbing and electrical available)
  • Landscaping includes new, shell landscaping, native plants and beautiful palms
  • Unit bathrooms with walk-in, frameless glass showers
  • Mini-split AC units
  • Sizable bedroom closets
  • Bar area in some units
  • Combined washer & dryer in each unit
  • Luxury vinyl plank flooring
  • New oversized, impact-rated windows and entry doors
  • West-facing unit allows for views of the Gulf of Mexico & St. Pete Beach’s world-famous sunsets
  • New insulation from floor to ceiling
  • New electrical wiring run
  • New plumbing placed from building to the street
  • Close to all the restaurants and entertainment that St Pete Beach has to offer
Documents

Location
Gallery