14975 1St St Madeira Beach, FL 33708

This exceptional waterfront triplex in Madeira Beach, Florida, presents a lucrative investment opportunity. Located at 14975 1st St E, 33708, this meticulously renovated 1953-built property boasts 2,752 square feet on a 5,000 square foot lot, offering 2,052 square feet of net rentable space. The property features three units: two 2-bedroom/2-bathroom units and one efficiency unit, all currently 100% occupied, generating a strong net operating income (NOI) of $61,500. Recent 2023 renovations include new flooring, fresh paint, and complete rewiring with new electrical panels. The property includes four carports providing ample parking for eight vehicles, plus a balcony and porch overlooking the canal. Situated on a wide canal with direct access to the Intercoastal Waterway and the Gulf of Mexico, this location offers unparalleled access to boating, fishing, and the vibrant Madeira Beach lifestyle. Proximity to John's Pass Village, restaurants, shopping (including Tyrone Mall, Walmart, and Target), and beautiful beaches adds to its appeal. The $1,390,000 asking price translates to $463,000 per unit and $677 per square foot. This turnkey investment is ideal for those seeking a high-return property in a prime location. The permitted zoning is triplex.