13330 3rd St E, Madeira Beach, FL 33708

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 $1,350 (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 51% 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.