For Sale
$4,500,000

1600 Beach TrlIndian Rocks Beach, FL 33785

Gulf-front, 3-unit apartment building

Overview

Added:
Dec 11, 2024
Days on market:
114
This stunning, fully renovated (2023) gulf-front apartment building in Indian Rocks Beach, FL, presents a unique investment opportunity. The property features three units totaling 3,100 square feet, including a spacious 2,050-square-foot owner's unit with three bedrooms and two bathrooms boasting direct beachfront views. Two additional units offer one and two bedrooms respectively, each with a bathroom. The property enjoys 50 feet of direct Gulf frontage. Recent renovations include a new roof with a vaulted ceiling, new AC and mini-split systems, a custom kitchen, new flooring throughout, and a brand-new heated pool with travertine tile and landscaping. All renovations were completed with secured permits. Situated on a 7,871-square-foot lot, this Class B building is zoned for commercial tourist use, allowing for short-term rentals with no minimum stay requirement. The property's 12-foot elevation ensures hurricane protection, as evidenced by zero damage from past hurricanes. The asking price is $4,500,000, with a pro-forma NOI of $363,000 and a pro-forma cap rate of 8.07%. This is a fee-simple ownership opportunity with significant income potential. The property's prime location and exceptional amenities make it an ideal investment for both short-term rental income and long-term appreciation. The building is a single-story structure built in 1960.

Highlights

  • Gulf-front multifamily investment opportunity with three units totaling 3,100 square feet.
  • 50 feet of direct Gulf frontage.
  • Main unit features 2,050 square feet, three bedrooms, two bathrooms, and beachfront views.
  • Includes a new heated pool with travertine tile.
  • Completely renovated in 2023 with all permits; new roof, AC, custom kitchen, flooring, and landscaping.
  • Zoned for short-term rentals, with no minimum rental period.

Property Details for 1600 Beach Trl

Property type
Apartment buildings
Square Feet
3,100 SF
Class
B
Year Built/Renovated
1960/2023
Buildings
1
Stories
1
Units
3

Location Insight

City
Indian Rocks Beach
County
Pinellas
State
Florida
Latitude
27.8991959
Longitude
-82.8488965
1600 Beach Trl, Indian Rocks Beach, Florida

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1600 Beach Trl
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