Homes for sale - 12321 GULF BLVD, Treasure Island, FL 33706

REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Tue

Dec

Wed

Dec

Thu

Dec

Andrea Stultz Wood

andrea.stultz@engelvoelkers.com +1(941) 929-6529

$ 3,295,000

Est. payment -/mo

Save

Active

12321 GULF BLVD Treasure Island, FL 33706

10 Beds

10 Baths

4,846 SqFt

UPDATED:

11/20/2024 11:20 PM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,846 sqft

Price per Sqft $679

Subdivision Coney Island

MLS Listing ID TB8322059

Bedrooms 10

HOA Y/N No

Originating Board Stellar MLS

Year Built 1948

Annual Tax Amount $12,505

Lot Size 0.400 Acres

Acres 0.4

Property Description

The Bungalows welcomes investors with an impressive 11 CAP RATE! This 10 unit plus office licensed hotel offers high income potential in its current use and intriguing value for future use of its four buildings and three parcels. A newly resurfaced pool and new pool equipment await guests. Two of the four buildings lay adjacent to the pool, offering multiple rentals just steps to a relaxing dip or lounging on the pool deck. The Bungalows offers studios, one and two bedroom units to appeal to all types of vacationers. Every unit features a kitchenette making them feel like a home away from home. The charm and pride of ownership also extends to the multiple outdoor spaces frequently raved about in reviews. Relax under shade, unwind in an Adirondack chair or play corn hole in the Florida sun - there are many options for outdoor enjoyment here. Each unit has direct access to outdoor areas made to feel like a private oasis for guests. This boutique hotel offers new roofs, HVAC and water heaters presenting the buyer with a low maintenance, tropical sanctuary. New floors and cabinets are just another highlight. Prime Gulf Blvd location with direct access to a crosswalk makes staying here a breeze for guests. The property is a two minute walk to Pinellas County's #1 tourist destination John's Pass Village & Boardwalk featuring shopping, restaurants, jet ski rentals, sunset cruises, fishing charters and live music. Treasure Island beach is located steps away and beacons guests to relax and stay a while. A boat ramp is located steps from this property making kayaking a breeze. Kayak, jet ski and floating tiki hut rentals routinely make arrangements to pick up guests here. This property is currently in the process of being renovated after receiving water intrusion from Hurricane Helene. Permits are already in place, giving the new owner the opportunity to be one of the first hotels reopening on the beaches and to take advantage of the busy winter and spring seasons. Additional 8 unit hotel for sale next-door, schedule your tour today.

Location

State FL

County Pinellas

Community Coney Island

Interior

Interior Features Kitchen/Family Room Combo, Solid Wood Cabinets, Stone Counters, Thermostat

Heating Central, Electric

Cooling Central Air

Fireplace false

Laundry Laundry Room

Exterior

Exterior Feature Courtyard, Fence, Sidewalk, Storage

Pool Gunite, In Ground

Utilities Available Electricity Connected, Phone Available, Public, Sewer Connected, Street Lights, Water Connected

Roof Type Metal

Garage false

Private Pool Yes

Building

Foundation Slab

Lot Size Range 1/4 to less than 1/2

Sewer Public Sewer

Water Public

Structure Type Concrete,Stucco

New Construction false

Others

Senior Community No

Ownership Fee Simple

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition None

Listed by ENGEL & VOLKERS MADEIRA BEACH

Andrea Stultz Wood

Advisor

+1(941) 929-6529

GET MORE INFORMATION