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Grace Prescott

graceprescottre@gmail.com +1(813) 384-8224

$ 1,800,000

Est. payment | -/mo

2,145 SqFt

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$ 1,800,000

Est. payment | -/mo

Save Virtual Tour

2,145 SqFt

Key Details

Property Type Commercial

Sub Type Multi-Family 5+

Listing Status Active

Purchase Type For Sale

Square Footage 2,145 sqft

Price per Sqft $839

MLS Listing ID A4708837

Construction Status Completed

HOA Y/N No

Year Built 1948

Annual Tax Amount $9,332

Lot Size 4,356 Sqft

Acres 0.1

Lot Dimensions 50x92

Property Sub-Type Multi-Family 5+

Source Stellar MLS

Property Description

MADEIRA BEACH SIX-UNIT INCOME-PRODUCING PROPERTY — JUST TWO BLOCKS FROM THE BEACH! An exceptional opportunity to acquire a six-unit multifamily property in one of Madeira Beach's most desirable coastal locations. The property features a highly versatile mix of two one-bedroom units and four studio units, creating multiple avenues for rental income and long-term investment potential. Property is fully leased. The property currently generates significant income with low expenses and 6% CAP rate at list price. The combination of established income, incredible coastal location just two blocks from the beach, strong NOI, location, and six individual rental units provides an attractive foundation for both experienced multifamily investors and buyers looking to expand their income-producing portfolio. Unit sizes are approximately 700-800 square feet for the one-bedroom residences and approximately 550-650 square feet for the studios. Select units are fully furnished, providing additional flexibility for furnished, seasonal, or mid-term rental strategies where permitted. The efficient layouts and individual units offer the ability to manage and optimize rents on a unit-by-unit basis. Residents are within easy reach of the Gulf beaches, restaurants, shopping, entertainment, and the highly popular John's Pass Village & Boardwalk. The property's proximity to the beach and surrounding amenities provides strong rental appeal and supports continued demand from both local and seasonal tenants. The property presents an attractive combination of strong income, excellent location, good unit count, and future upside that is increasingly difficult to find in the Madeira Beach market. An excellent opportunity to acquire a coastal multifamily asset with current cash flow and the potential to further optimize rental performance. Buyer to independently verify all zoning, permitted uses, rental restrictions, licensing requirements, operating expenses, income, and other property information.

Location

State FL

County Pinellas

Area 33708 - St Pete/Madeira Bch/N Redington Bch/Shores

Zoning MULTI

Direction E

Interior

Heating Central

Cooling Central Air

Flooring Luxury Vinyl

Appliance Dishwasher, Microwave, Refrigerator

Exterior

Utilities Available BB/HS Internet Capable, Electricity Available, Water Connected

View Y/N Yes

Water Access Yes

Water Access Desc Beach

View Beach, Gulf/Ocean - Partial

Roof Type Shingle

Building

Lot Description FloodZone, Sidewalk, Street Lights, Paved

Entry Level One

Foundation Slab

Lot Size Range 0 to less than 1/4

Sewer Public Sewer

Water Public

Structure Type Block

New Construction false

Construction Status Completed

Others

Ownership Fee Simple

Acceptable Financing Owner Financing, Private Financing Available

Listing Terms Owner Financing, Private Financing Available

Special Listing Condition Real Estate Owned

Virtual Tour https://www.propertypanorama.com/instaview/stellar/A4708837

Listed by Daniel Petrilla PREFERRED SHORE LLC

Schools and Properties Nearby

Find out why customers are choosing LPT Realty to meet their real estate needs

+1(813) 384-8224

graceprescottre@gmail.com

Tampa, Florida

113 145 AVE E Madeira Beach, FL 33708

Grace Prescott

Key Details

Location

Interior

Exterior

Building

Others

Schools and Properties Nearby

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113 145 AVE E