$2,200,000 list price
location_onTREASURE ISLAND, FL 33706 · Pinellas County
The views are simply spectacular! A rare opportunity to own a stunning six-unit waterfront apartment building situated in the highly sought-after Isle of Palms neighborhood of Treasure Island, Florida! Wide Open Views with 58 feet of seawall, a gorgeous large observation deck, and easy access to the Gulf of Mexico and Tampa Bay. This low-maintenance block construction building has been meticulously maintained inside and out with beautiful landscaping and ten parking spaces. This building features an abundance of natural light with great floorplans. Three units are 2/1 – Two bedroom one bath with kitchen, dining and living rooms. The remaining three units are 1/1 – One bedroom one bath with kitchen dining and living rooms as well. Current Rents are substantially under market with 4 month-to-month tenants and 2 owner units. Projected Income based on market rates in the area: $2000 - $2500 2 Bedroom Units and $1800-$2200 for the One Bedroom Units. The current property expenses: 2021 Taxes $11,647.46, Insurance Liability $2500, Wind $6,400, Flood $5200. Water/Garbage/Sewer for all units currently paid by Owner $490/Month. Electric (Separately metered tenants pay individually) House Electric $40/month. On Site Laundry is currently included in rent but could be changed to coin operation for additional income. This phenomenal property is located only minutes from the sandy beaches of Treasure Island, shopping, water activities, great restaurants, sunset beach walks and more – this is truly an amazing opportunity!
Cooling
Heating
Construction
Roof
Waterfront
$440,000 down
Loan amount $1,760,000
Estimated monthly principal & interest
$11,124
Estimate excludes taxes, insurance, HOA dues, PMI, lender fees, and financial advice.
KLEIN & HEUCHAN INC REALTY
727-441-1951
