113 145 AVE E, MADEIRA BEACH, FL, 33708
$1,800,000
Commercial Sale
|
Living Area
2,145 Sqft
|
Lot Size
4,635 Sqft
|
MADEIRA BEACH SIX-UNIT INCOME-PRODUCING PROPERTY — JUST TWO BLOCKS FROM THE BEACH! An exceptional opportunity to acquire a six-unit multifamily property in one of Madeira Beach's most desirable coastal locations. The property features a highly versatile mix of two one-bedroom units and four studio units, creating multiple avenues for rental income and long-term investment potential. Property is fully leased. The property currently generates significant income with low expenses and 6% CAP rate at list price. The combination of established income, incredible coastal location just two blocks from the beach, strong NOI, location, and six individual rental units provides an attractive foundation for both experienced multifamily investors and buyers looking to expand their income-producing portfolio. Unit sizes are approximately 700-800 square feet for the one-bedroom residences and approximately 550-650 square feet for the studios. Select units are fully furnished, providing additional flexibility for furnished, seasonal, or mid-term rental strategies where permitted. The efficient layouts and individual units offer the ability to manage and optimize rents on a unit-by-unit basis. Residents are within easy reach of the Gulf beaches, restaurants, shopping, entertainment, and the highly popular John's Pass Village & Boardwalk. The property's proximity to the beach and surrounding amenities provides strong rental appeal and supports continued demand from both local and seasonal tenants. The property presents an attractive combination of strong income, excellent location, good unit count, and future upside that is increasingly difficult to find in the Madeira Beach market. An excellent opportunity to acquire a coastal multifamily asset with current cash flow and the potential to further optimize rental performance. Buyer to independently verify all zoning, permitted uses, rental restrictions, licensing requirements, operating expenses, income, and other property information.
Property Details
| Property Features | Property Features | |||
|---|---|---|---|---|
| MLS ID: | MFRA4708837 | Year Built: | 1948 | |
| Appliances: | Dishwasher, Microwave, Refrigerator | Construction Materials: | Block | |
| Cooling: | Central Air | Country: | US | |
| County Or Parish: | Pinellas | Flooring: | Luxury Vinyl | |
| Foundation Details: | Slab | Heating: | Central | |
| Income Includes: | Parking, Recreation, Storage | Levels: | One | |
| Listing Agreement: | Exclusive Right To Sell | Listing Terms: | Owner Financing, Private Financing Available | |
| Lot Features: | FloodZone, Sidewalk, Street Lights, Paved | Occupant Type: | Tenant | |
| Property Condition: | Completed | Property Sub Type: | Multi-Family 5+ | |
| Property Type: | Commercial Sale | Road Frontage Type: | City Street | |
| Road Responsibility: | Public Maintained Road | Road Surface Type: | Asphalt, Paved | |
| Roof: | Shingle | Security Features: | Smoke Detector(s) | |
| Sewer: | Public Sewer | Showing Requirements: | 24 Hour Notice, Appointment Only, Call Listing Agent, Combination Lock Box | |
| Special Listing Conditions: | Real Estate Owned | Standard Status: | Active | |
| State Or Province: | FL | Utilities: | BB/HS Internet Capable, Electricity Available, Water Connected | |
| View: | Beach, Gulf/Ocean - Partial | Water Source: | Public | |
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