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Turning Leaf Realty
113 145 Avenue E, Madeira Beach, FL 33708
- $1,800,000
- 2,145
- SqFt
- List Price
- $1,800,000
- Status
- Active
- Days on Market
- 0
- MLS#
- A4708837
- Foreclosure
- Yes
- Property Style
- Multi-Family 5+
- Year Built
- 1948
- Living Area
- 2,145
- Lot Size
- 4,635
- Acres
- 0.10
- Total Acreage
- 0 to less than 1/4
- MLS Area Major
- St Pete/Madeira Bch/N Redington Bch/Shores
Property Description
MADEIRA BEACH SIX-UNIT INCOME-PRODUCING PROPERTY — JUST TWO BLOCKS FROM THE BEACH! An exceptional opportunity to acquire a six-unit multifamily property in one of Madeira Beach's most desirable coastal locations. The property features a highly versatile mix of two one-bedroom units and four studio units, creating multiple avenues for rental income and long-term investment potential. Property is fully leased. The property currently generates significant income with low expenses and 6% CAP rate at list price. The combination of established income, incredible coastal location just two blocks from the beach, strong NOI, location, and six individual rental units provides an attractive foundation for both experienced multifamily investors and buyers looking to expand their income-producing portfolio. Unit sizes are approximately 700-800 square feet for the one-bedroom residences and approximately 550-650 square feet for the studios. Select units are fully furnished, providing additional flexibility for furnished, seasonal, or mid-term rental strategies where permitted. The efficient layouts and individual units offer the ability to manage and optimize rents on a unit-by-unit basis. Residents are within easy reach of the Gulf beaches, restaurants, shopping, entertainment, and the highly popular John's Pass Village & Boardwalk. The property's proximity to the beach and surrounding amenities provides strong rental appeal and supports continued demand from both local and seasonal tenants. The property presents an attractive combination of strong income, excellent location, good unit count, and future upside that is increasingly difficult to find in the Madeira Beach market. An excellent opportunity to acquire a coastal multifamily asset with current cash flow and the potential to further optimize rental performance. Buyer to independently verify all zoning, permitted uses, rental restrictions, licensing requirements, operating expenses, income, and other property information.
Additional Information
- Taxes
- $9332
- Annual Gross Income
- 133200
- Location
- FloodZone, Sidewalk, Street Lights, Paved
- Community Features
- No Deed Restriction
- Property Description
- One Story
- Zoning
- MULTI
- Floor
- Luxury Vinyl
- Appliances
- Dishwasher, Microwave, Refrigerator
- Utilities
- BB/HS Internet Capable, Electricity Available, Water Connected
- Heating
- Central
- Air Conditioning
- Central Air
- Exterior Construction
- Block
- Roof
- Shingle
- Foundation
- Slab
- Pool
- No Pool
- Water View
- Beach, Gulf/Ocean - Partial
- Water Access
- Beach
- Flood Zone Code
- AE
- Parcel ID
- 09-31-15-54306-000-0230
- Legal Description
- Madeira Shores Sub Lot 23 Tr 54306
Listing courtesy of PREFERRED SHORE LLC. 941-999-1179
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