$5,000,000
$5,199,500
3.8%For more information regarding the value of a property, please contact us for a free consultation.
8 Beds
8 Baths
5,058 SqFt
SOLD DATE : 03/19/2024
Key Details
Sold Price $5,000,000
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Sold
Purchase Type For Sale
Square Footage 5,058 sqft
Price per Sqft $988
Subdivision Clearwater Beach Rev
MLS Listing ID U8223703
Sold Date 03/19/24
Bedrooms 8
Full Baths 8
HOA Y/N No
Originating Board Stellar MLS
Year Built 1938
Annual Tax Amount $20,587
Lot Size 4,356 Sqft
Acres 0.1
Lot Dimensions 50x87
Property Description
***CALLING ALL INVESTORS - 10% CAP RATE*** BEACH/OCEAN VIEWS!!! TURN-KEY, 8-UNIT FULLY FURNISHED SHORT TERM RENTALS - JUST 10 STEPS FROM THE WHITE SANDS & CRYSTAL CLEAR WATERS OF CLEARWATER BEACH!!! Welcome to an incredible investment opportunity in the heart of Clearwater Beach. This fully furnished, turn-key, 8-unit short-term rental property boasts breathtaking beach and ocean views. With its prime location, recent renovations, high occupancy rates, and potential revenue, this property is a dream investment for savvy investors. This two-story building houses 8 fully remodeled units, each thoughtfully designed and meticulously furnished. The interiors have been updated with new appliances, quartz counter-tops, luxury vinyl plank flooring, fresh paint, modern showers/tubs, plumbing, and the list goes on. The fully stocked kitchens make it effortless for guests to feel at home during their stay. Additionally, there are storage areas, common area washers and dryers, and an elevated courtyard with a grill and lounge chairs for guests' enjoyment. Strategically located, this property offers guests the convenience of being a stroll away from a variety of restaurants, bars, shops, the marina, and popular tourist spots like Pier 60. Guests can enjoy leisurely walks to nearby beachfront restaurants and the white sands and crystal-clear waters of Clearwater Beach, making their stay truly unforgettable. This property boasts consistently high occupancy rates exceeding 90% since its conversion to short-term rentals. The market demand for upscale accommodations in this desirable location ensures a steady stream of guests seeking a luxurious beachfront getaway. The projected gross revenue for the upcoming year is anticipated to exceed $650,000, further highlighting the incredible revenue potential of this investment. Adding to its appeal, the property is zoned as "T - Tourist," allowing for nightly rentals, maximizing its income-generating potential. This unique zoning enables owners to fully capitalize on the popularity of Clearwater Beach as a top vacation destination. Don't miss out on this remarkable investment opportunity. Whether you are an experienced investor looking to expand your portfolio or a first-time investor seeking a turn-key income property, this beachfront 8-unit short-term rental property is an exceptional choice. Get ready to embark on a lucrative investment journey in Clearwater Beach!
Location
State FL
County Pinellas
Community Clearwater Beach Rev
Zoning T-TOURIST
Interior
Interior Features Built-in Features, Ceiling Fans(s), Crown Molding, Eat-in Kitchen, Living Room/Dining Room Combo, Open Floorplan, Primary Bedroom Main Floor, PrimaryBedroom Upstairs, Thermostat, Window Treatments
Heating Central, Electric, Wall Units / Window Unit
Cooling Central Air, Wall/Window Unit(s)
Flooring Ceramic Tile, Luxury Vinyl, Tile
Fireplace false
Appliance Dishwasher, Dryer, Electric Water Heater, Exhaust Fan, Microwave, Refrigerator, Washer
Laundry Common Area
Exterior
Exterior Feature Balcony, Courtyard, Lighting, Outdoor Grill, Outdoor Shower, Rain Gutters, Sidewalk, Storage
Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Street Lights, Water Connected
View Y/N 1
Water Access 1
Water Access Desc Beach,Gulf/Ocean,Gulf/Ocean to Bay,Intracoastal Waterway
View Water
Roof Type Shingle
Garage false
Private Pool No
Building
Story 2
Entry Level Two
Foundation Slab
Lot Size Range 0 to less than 1/4
Sewer Public Sewer
Water Public
Structure Type Block,Vinyl Siding
New Construction false
Others
Senior Community No
Ownership Fee Simple
Special Listing Condition None
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Bought with LKG REALTY
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11923 Oak Trail Way, Richey, Florida, 34668, United States