
This offering presents a UNIQUE and RARELY available Madeira Beach investment real estate property operational as a stable, turnkey, incoming-producing asset with minimal expectation of extensive near-term capex, and exceptional land-bank potential for future development of a Luxury Beach Estate. The MB Apartments are comprised of three structures, a Beach Cottage and two Duplexes, consisting of five total units (three one-bedroom, and two two-bedrooms), each with a full bath, kitchen, and living room. Residents sign annual leases, have a history of on-time payment, and are responsible for electric utilities per separate meters. Owner pays water/sewer/trash. Current rents average $867 (one-bedroom), and $1,350 (two-bedrooms). HVAC are a combination of central and thru-wall / window systems. Each residence has been well-maintained. Features include expansive living area, tile, laminate, and carpet flooring. Many kitchen and bathroom upgrades have been completed. Common amenities include on-site laundry, ample off-street paved parking, and a private patio courtyard. Positioned on an expansive parcel (.2 +/- acre lot of 80 x 104), the Property has historically been 100% occupied, and is projected to operate with total expenses equal to roughly 53% of EGI. Located in a quiet, secluded residential enclave between Gulf Boulevard and the Intracoastal, the Property is ideally situated three blocks to public beach access at 133rd and 134th Avenues, and one block to a public park on the Intracoastal. Roughly equidistant between Clearwater and St Petersburg, MB is a highly desired community due to its quaint coastal ambiance, and predominance of single-family homes. Largely serving year-round residences, MB has relatively fewer tourist hotels and condos. Local John’s Pass Village is known regionally as a major nightlife and shopping hotspot making it very popular among residents, and tourists alike. MB’s near three-mile sugary-sand beaches attract devotees of sun, and the Gulf’s turquoise-emerald seas. The popularity of fishing is punctuated by MB’s annual October Seafood Festival drawing up to 130,000 for celebration of food, music, arts, and crafts.
Moderate Residential Turnover, Coastal Area, Suburb of Tampa
Great Schools | School Name | Distance | |
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Madeira Beach Fundamental K-8 Public - Kindergarten to 8th Grade - Closest Elementry School |
1.2 Miles | |
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Keswick Christian School Private - Preschool to 12th Grade - Closest Middle School |
2.1 Miles | |
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Plato Academy Of St Petersburg Public - Preschool to 3rd Grade |
2.3 Miles | |
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Community Christian School Of Five Oaks Private - Kindergarten to 12th Grade |
2.3 Miles | |
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Wellmont Academy Private - to |
2.3 Miles | |
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Azalea Middle School Public - 6th Grade to 8th Grade |
2.4 Miles | |
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Admiral Farragut Academy Private - Preschool to 12th Grade - Closest High School |
2.6 Miles |
School data provided by GreatSchools
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Listing data comes from My Florida Regional MLS DBA Stellar MLS.
Listing information last updated on January 22nd, 2021 at 1:06am EST.