$1,235,000

Description

Fantastic Sunset Beach Location! This solid block fourplex offers an exceptional location in one of Treasure Island’s most sought-after beach neighborhoods. With the sand just across the street, residents can enjoy morning beach walks, Gulf sunsets, and the relaxed atmosphere that makes Sunset Beach a favorite for year-round and seasonal living. The property features four one-bedroom, one-bath residences, with two currently rented to annual tenants. Features include separately metered electric, upstairs and downstairs patios, ample parking, additional storage, and new coin-operated laundry equipment. According to the owner, laundry income offsets most common-area electric and building water costs. Two vacant units give new owners immediate flexibility to pursue furnished monthly and seasonal rentals, with a one-month minimum and up to five rental periods per year. Each unit operated as a furnished monthly rental offers projected annual gross income potential of $26,000–$36,000, creating an opportunity to increase income while the two occupied units provide an established income stream. Projections are estimates, depend on rental rates and occupancy, and are not guaranteed. A pro forma is available for review. The roof was replaced in 2023 and Hurricane/Impact windows were installed throught out in 2020. The two ground-floor units experienced flooding during Hurricane Helene and were remediated with permits. Buyers should verify rental restrictions, zoning, income, expenses, and all other material facts. PLEASE DO NOT DISTURB TENANTS.