$612,000
$650,000
5.8%For more information regarding the value of a property, please contact us for a free consultation.
9 Beds
5 Baths
2,158 SqFt
SOLD DATE : 08/30/2024
Key Details
Sold Price $612,000
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Sold
Purchase Type For Sale
Square Footage 2,158 sqft
Price per Sqft $283
Subdivision Lakeside Sub
MLS Listing ID T3523162
Bedrooms 9
Full Baths 5
Year Built 1953
Annual Tax Amount $4,284
Lot Size 6,098 Sqft
Property Description
**INVESTMENT OPPORTUNITY** Average income - $215/week , NET - $65,000 - $70,000 annually. Welcome to your next income-producing investment opportunity! This property presents an exceptional chance to secure a steady return with an impressive 11% Cap Rate post-operating expenses. Comprising two units on a single lot, this investment gem offers versatility and stability. The primary unit boasts a spacious layout featuring 5 bedrooms and 3 bathrooms, while the secondary unit offers 4 bedrooms and 2 bathrooms. Currently operating under a group living model, the property is fully stabilized with a 100% occupancy rate. Each occupant enjoys the luxury of their own individual sleeping quarters equipped with a TV, promoting privacy and comfort. Common areas include well-appointed kitchen and laundry spaces, fostering a sense of community among tenants. TWO other buildings adjacent are also available for purchase-each also with a 11% cap rate. Recently renovated to the highest standards, this property exudes modern elegance and functionality. Highlights of the renovation include premium vinyl flooring, sleek stainless steel appliances, luxurious quartz countertops, glass shower enclosures, and the convenience of in-unit washer/dryer setups. Furthermore, the units come fully furnished, complete with TVs, ensuring an attractive offering for tenants seeking convenience and style. This investment opportunity is tailored for passive income seekers, with streamlined management processes in place for your peace of mind. An online booking platform facilitates tenant reservations, while an experienced management company handles all on-the-ground operations, from maintenance requests to tenant inquiries. With a robust Cap Rate of 11%, this investment is not only lucrative but also inclusive of all associated fees. From Padsplit marketing and portal expenses to on-the-ground management services, utilities (including WiFi), taxes, and insurance – everything is comprehensively covered. Don't miss out on this turnkey investment opportunity offering both exceptional returns and hassle-free management. Take advantage of the potential for long-term financial growth and schedule your viewing today!
Location
State FL
County Pinellas
Community Lakeside Sub
Interior
Heating Central
Cooling Central Air
Flooring Ceramic Tile, Vinyl
Laundry Inside
Exterior
Exterior Feature Other
Fence Fenced
Utilities Available Cable Available, Cable Connected, Electricity Available, Electricity Connected
Roof Type Shingle
Building
Foundation Slab
Sewer Public Sewer
Water Public
Structure Type Wood Frame
New Construction false
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition None
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Bought with EXP REALTY LLC