2308 Bay Boulevard, Belleair Beach, FL 33785


Property Description

**** LOCATION, LOCATION, LOCATION!! **** COASTAL BEACH INVESTMENT PROPERTY IN NORTH INDIAN ROCKS BEACH **** A unique opportunity to own a turnkey investment property in this quiet location. Nestled between the Gulf & Intracoastal. Beach access, a short walk down the street at the end of 24th Ave N, and a small park on deep-water Intracoastal across the street. The current owner has owned and meticulously maintained the property for over 20 years. No Rental Minimum and NO HOA! The property consists of 5 separate – 2 bed / 1 bath units all updated and maintained. Each unit has its own private patio and Washer/Dryer hookup/storage area. **Live in one unit and rent out the rest or use a local management company and have a hands-free Seasonal/VRBO/Airbnb income rental. ** THE WINDOWS ARE HURRICANE IMPACT!! Non-smoking building, inside and out. The Kitchen appliances include: Refrigerator, Range, Dishwasher, and built-in Microwave. All units have plantation blinds. THIS PROPERTY HAS 19 PARKING SPACES!! The only property of its size in Indian Rocks Beach (IRB) with that amount of parking. Each unit has its own water heater. All water heaters and ACs have been updated. The last 2 were replaced in April 2023, which includes new ductwork/handler. Block construction, Block walls between each unit, and firewalls between apartments in the attic. Each unit has pull-down ladders to access service in the attics. Each unit is metered separately for Electric, Water/Sewer. The owner pays for Reclaim Irrigation only ($66 every other month). The building shows pride of ownership. **Currently Tenant Occupied and Annual Lease to 2024 - $111,000K. An increase in revenue is easily attainable as current rents are below market value. Perfect setup to convert to Airbnb. Comparable Short-Term Rentals in Indian Rocks Beach $200-$250k in gross income. Buyer to verify comparable income. **PLEASE DO NOT DISTURB TENANTS! ** ALL UNITS ARE UPDATED ***

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