$621,900
Active · 176 days on market · MLS# MFRW7875642
| Bedrooms | 3 |
|---|---|
| Living area | 1,279 sq ft |
| Lot size | 0.09 acres |
| Year built | 1947 |
| Property type | Triplex |
| Private pool | Yes |
| Waterfront | Yes |
| Annual taxes | $4,724 |
| County | Pinellas |
Completely renovated and fully occupied triplex with three 1 bed, 1 bath units! Just a few blocks to John's Pass, 3 blocks to the beach, 2 blocks to two intercoastal pocket parks. So this is one of the most desirable areas of Madeira Beach. New Stainless Steel appliances and instant-on hot water heaters in each unit. Beautiful quartz countertops in the kitchen along with 42" tall solid wood cabinets. Tile for easy cleaning and maintenance. 30 year roof is 5 years old. The renovation used FEMA approved flood resistant materials such as DensGlass which is a replacement for drywall and closed cell insulation instead of traditional fiberglass insulation. These materials are considered mold resistant with DensGlass having a rating of 10 under the ASTM D3273 test method. The front two units have a open living, dining, kitchen area along with a little office/dining /flex space in the entry and one bedroom and full bath for each. The back unit has a huge open area for the living/dining area with multiple large windows allowing in tons of natural light along with one bedroom, a bath and double closet for the main bedroom. There are laundry hookups in the backyard where there is a little storage unit containing the washer and dryer for tenant use. 6 foot privacy fence on the back and side of the property. Currently over an 7.5% cap rate with no rehab to do and Proforma Cap is over 8%. 24 hour notice required for showings to respect the tenants.
Listing courtesy of Robert Bello, JR, DALTON WADE INC. Presented by MC Homes Realty Inc · 727432218.