$310,000
Description
Are you seeking an investment property with a rarely-available beachfront location, a sizeable cap rate, and an inclusive condo fee? Look no further! Currently boasting an impressive 6% cap-rate with a 5-day stay minimum, the co-op studio may have future potential for an 8-10% cap rate with the option of 1-day stays. As one of the only beachfront co-op condos allowing no rental restrictions (allows 1-day rentals) and no full-time owner-occupant restrictions, this spacious studio presents a unique addition to your real estate investment portfolio. Easy to keep traditionally variable costs predictable, the extremely reasonable condo fee covers everything, which includes cable television, internet, electricity, water, sewer, trash, insurance, exterior maintenance, grounds maintenance, pest control, community pool maintenance, parking, and escrow reserves fund. Completely overhauled and renovated in 2020 with over $800K+ in updates, the cheerful building dazzles tenants with the Floridian lifestyle of carefree beach days, a sparkling swimming pool, and comfortable surroundings engulfed in tropical greenery. Explore the unit to find an open floorplan, stylish finishes, durable faux wood flooring, a coastal color scheme, a fully-equipped kitchen, and a tidy bathroom with whimsical retro tile. As a desirable bonus, a highly competent and reliable rental company is already in place for a truly turnkey opportunity. Whether you desire to rent the unit full-time or you’re a snowbird looking for a versatile part-time residence, this property delivers an array of convenient options. Get all the advantages and relish in owning a piece of Treasure Island! Call now to schedule your private tour!
Listed by Johnny Huynh, .
Property Highlights
- Property Type: Multi Family
- MLS #: T3377851
Room Information
| Total Baths | 1 |
Property Features
| Has View | Yes |
| Interior Square Footage | 265 |
| Lot Size Acres | 1 |
| Lot Size Square Feet | 43,772 |
| Waterfront | Yes |
Listings courtesy of Stellar MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Listing information is provided for consumers? personal, non-commercial use, solely to identify prospective properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Information deemed reliable but not guaranteed. Copyright ©2024 MLS GRID. All Rights Reserved.