UPDATED:
Key Details
Property Type Commercial
Sub Type Multi-Family 5+
Listing Status Active
Purchase Type For Sale
Square Footage 2,908 sqft
Price per Sqft $447
Subdivision Gulf Shores 1St Add
MLS Listing ID TB8516347
Construction Status Completed
HOA Y/N No
Year Built 1947
Annual Tax Amount $8,109
Lot Size 5,227 Sqft
Acres 0.12
Lot Dimensions 50x100
Property Sub-Type Multi-Family 5+
Source Stellar MLS
Property Description
What truly sets this property apart is its extensive hurricane-resilient construction and post-storm preparedness improvements. The building successfully withstood the major storms of 2024, demonstrating the quality and durability of the upgrades completed. Improvements include waterproof stucco interior wall systems, durable epoxy flooring throughout, elevated electrical connections, and water-resistant kitchen fixtures designed to minimize future storm vulnerability and maintenance concerns. In addition, the property features a newer roof, and all restoration and improvement work has been fully permitted and completed, providing added confidence for investors and lenders alike.
The property offers flexible rental opportunities including annual rentals, seasonal leasing, workforce housing, or furnished beach rentals, creating multiple paths for maximizing income potential. With an attractive CAP rate, investors can benefit from both strong current cash flow and long-term appreciation in a highly supply-constrained beach market.
Tenants will enjoy exceptional walkability and convenience. The property is located near Gulf Boulevard with easy access to the Pinellas Suncoast Transit Authority trolley and bus routes connecting residents to surrounding beach communities, downtown St. Petersburg, and area attractions. Nearby shopping, dining, and entertainment options include the popular John's Pass Village & Boardwalk, local restaurants, waterfront bars, grocery stores, marinas, and recreational activities including boating, fishing, and beach access. The location also provides convenient access to Treasure Island, Redington Beach, and the greater Tampa Bay area.
This is an outstanding opportunity to own a proven storm-resilient multifamily asset in a premier coastal location with strong rental demand, attractive projected returns, and lasting tenant appeal.
Location
State FL
County Pinellas
Community Gulf Shores 1St Add
Area 33708 - St Pete/Madeira Bch/N Redington Bch/Shores
Interior
Heating Other
Cooling Mini-Split Unit(s)
Flooring Epoxy
Exterior
Utilities Available BB/HS Internet Capable, Electricity Available, Public, Water Connected
View Y/N Yes
Water Access No
Roof Type Shingle
Exposure West
Building
Lot Description Flood Insurance Required, FloodZone, City Limits, Near Public Transit, Neighbourhood
Story 2
Entry Level Two
Foundation Slab
Lot Size Range 0 to less than 1/4
Sewer Public Sewer
Water Public
Structure Type Concrete,Stucco
New Construction false
Construction Status Completed
Others
Ownership Fee Simple
Special Listing Condition None
Virtual Tour https://www.propertypanorama.com/instaview/stellar/TB8516347
Nearby Locations
REALTOR®, MRP (Miliary Relocation Professional)
+1(813) 245-0905 | tiffany@tiffanysellstampa.com