13330 3rd Street E, MADEIRA BEACH

$1,100,000

Active

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0 Beds
0 Baths
0 Sqft
.19 Acres
0 Garages

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 $817 (one-bedroom), and $888 (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 49% 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.

Essential Information
MLS® # U8095672
Price $1,100,000
Acres 0.19
Year Built 1972
Type Residential Income
Sub-Type Multi-Family
Status Active
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Neighborhood Information for 13330 3rd Street E

Moderate Residential Turnover, Coastal Area, Suburb of Tampa

Weather

  • Highs

    • January 69.30℉
    • July 90.20℉
  • Lows

    • January 54.00℉
    • July 76.60℉
  • rain icon

    Precipitation

    • 49.58"
   
Great Schools School Name Distance  

Madeira Beach Fundamental K-8

Public - Kindergarten to 8th Grade - Closest Elementry School
1.2 Miles

Keswick Christian School

Private - Preschool to 12th Grade - Closest Middle School
2.1 Miles

Plato Academy Of St Petersburg

Public - Preschool to 3rd Grade
2.3 Miles

Community Christian School Of Five Oaks

Private - Kindergarten to 12th Grade
2.3 Miles

Wellmont Academy

Private - to
2.3 Miles

Azalea Middle School

Public - 6th Grade to 8th Grade
2.4 Miles

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 October 24th, 2020 at 7:16pm EDT.