$750,000 • living size area 3216 sqft

This offering presents a unique and rarely available madeira beach investment real estate property operational as a stable, turnkey, incoming-producing asset with minimal expectation of extensive near-term capex, and exceptional land-bank potential for future development of a luxury beach estate. the mb apartments are comprised of three structures, a beach cottage and two duplexes, consisting of five total units (three one-bedroom, and two two-bedrooms), each with a full bath, kitchen, and living room. residents sign annual leases, have a history of on-time payment, and are responsible for electric utilities per separate meters. owner pays water/sewer/trash. current rents average $817 (one-bedroom), and $1,350 (two-bedrooms). hvac are a combination of central and thru-wall / window systems. each residence has been well-maintained. features include expansive living area, tile, laminate, and carpet flooring. many kitchen and bathroom upgrades have been completed. common amenities include on-site laundry, ample off-street paved parking, and a private patio courtyard. positioned on an expansive parcel (.2 +/- acre lot of 80 x 104), the property has historically been 100% occupied, and is projected to operate with total expenses equal to roughly 51% of egi. located in a quiet, secluded residential enclave between gulf boulevard and the intracoastal, the property is ideally situated three blocks to public beach access at 133rd and 134th avenues, and one block to a public park on the intracoastal. roughly equidistant between clearwater and st petersburg, mb is a highly desired community due to its quaint coastal ambiance, and predominance of single-family homes. largely serving year-round residences, mb has relatively fewer tourist hotels and condos. local john’s pass village is known regionally as a major nightlife and shopping hotspot making it very popular among residents, and tourists alike. mb’s near three-mile sugary-sand beaches attract devotees of sun, and the gulf’s turquoise-emerald seas. the popularity of fishing is punctuated by mb’s annual october seafood festival drawing up to 130,000 for celebration of food, music, arts, and crafts.

Multi Family - PAGES REP OF MITCHELLS BEACH

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