For Sale
$1,390,000

14975 1St StMadeira Beach, FL 33708

Madeira Beach investment opportunity. High ROI.

Overview

Added:
Dec 11, 2024
Days on market:
113
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.

Highlights

  • Exceptional waterfront triplex in Madeira Beach, FL, offering a strong ROI.
  • Meticulously renovated 2,752 SF triplex on a 5,000 SF lot with 2,052 SF of net rentable space.
  • Three units (two 2/2s and one efficiency), 100% occupied, generating a $61,500 NOI.
  • 2023 renovations include new flooring, paint, and electrical.
  • Four carports, balcony, and porch overlooking the canal with direct Intercoastal Waterway and Gulf access.
  • $1,390,000 asking price ($463,000 per unit, $677 PSF).

Property Details for 14975 1St St

Property type
Apartment buildings
Square Feet
2,752 SF
Year Built/Renovated
1953/2023
Buildings
1
Stories
2
Units
3

Location Insight

City
Madeira Beach
County
Pinellas
State
Florida
Latitude
27.8008076
Longitude
-82.7993562
14975 1St St, Madeira Beach, Florida

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14975 1St St
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