5505 16TH AVE S, GULFPORT, FL, 33707
$550,000
Residential Income
|
Bedrooms
3
|
Bathrooms
3
|
Living Area
1,816 Sqft
|
Lot Size
5,776 Sqft
|
Located in one of Gulfport’s most desirable rental corridors, 5505 16th Ave S presents a rare opportunity to acquire a stabilized, cash-flowing triplex with diversified income streams and long-term upside. This well-maintained NON FLOOD ZONE property offers a total of three units with a strong mix of long-term and short-term rental income, making it ideal for investors seeking both stability and growth. Also, a great opportunity for those looking to HOUSE HACK and live in one unit and have the other two units cash flow make for free living!
Unit 1 features a spacious 3-bedroom, 1-bath layout encompassing 1,086 square feet, currently leased as a long-term rental at $2,500 per month. Unit 2 is a 330-square-foot studio, also rented long-term at $1,500 per month, offering efficient living with strong tenant demand.
Unit 3 is a 400-square-foot fully furnished studio operating as a short-term rental, generating $1,700 per month with an average nightly rate of $80 and approximately 75% occupancy, providing immediate upside through optimized short-term management. All three units are serviced by a shared laundry area, adding convenience for tenants and an additional value component for ownership. Major capital improvements include a new roof installed in 2019 and a sewer line replacement in 2019, significantly reducing future maintenance exposure and enhancing long-term asset durability. With a compelling blend of reliable long-term income and flexible short-term rental potential, this property is perfectly positioned for investors looking to maximize returns in a thriving coastal market. Whether held as a stabilized asset or further optimized for increased cash flow, 5505 16th Ave S stands out as a turnkey multifamily opportunity in Gulfport.
Property Details
| Property Features | Property Features | |||
|---|---|---|---|---|
| MLS ID: | MFRTB8471888 | Year Built: | 1950 | |
| Construction Materials: | Frame | Cooling: | Central Air, Wall/Window Unit(s) | |
| Country: | US | County Or Parish: | Pinellas | |
| Exterior Features: | Lighting, Private Entrance | Foundation Details: | Slab | |
| Heating: | Central, Electric, Ductless | Laundry Features: | Other | |
| Lease Term: | Twelve Months | Listing Agreement: | Exclusive Right To Sell | |
| Other Equipment: | Private Entrance | Property Sub Type: | Triplex | |
| Property Type: | Residential Income | Road Surface Type: | Asphalt | |
| Roof: | Shingle | Sewer: | Public Sewer | |
| Showing Requirements: | 24 Hour Notice, ShowingTime | Special Listing Conditions: | None | |
| Standard Status: | Active | State Or Province: | FL | |
| Utilities: | Cable Connected, Electricity Connected, Public, Sewer Connected, Water Connected | Water Source: | Public | |
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