1600 Beach TrlIndian Rocks Beach, FL 33785

Property Details for 1600 Beach Trl

Year built

1960

Property size (Sq ft)

3,100 SF

Property type

Apartment buildings

Description

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.

Location Insight

City

Indian Rocks Beach

County

Pinellas

State

Florida

Latitude

27.8992

Longitude

-82.8489

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