Bought with Compass Florida LLC
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Key Details
Sold Price $2,310,000
Property Type Commercial
Sub Type MultiFamily (5+ Units)
Listing Status Sold
Purchase Type For Sale
Square Footage 6,284 sqft
Price per Sqft $367
MLS Listing ID RX-10683366
Sold Date 04/21/21
Construction Status Resale
Year Built 1977
Annual Tax Amount $12,057
Tax Year 2020
Lot Size 0.600 Acres
Property Description
This unparalleled and rarely available multifamily property sits directly on Crescent Beach within the heart of Saint Augustine, FL. This 7-unit building offers investors a unique value-add opportunity while providing reliable cash flows from the existing 100% occupancy. The property is properly zoned and perfectly suited for a short-term vacation rental or a repositioned annual lease model. Renovated units provide nearly a 75% increase in rents. Short-term vacation rentals have proven to generate almost 300% of current monthly revenues. No matter use, residents enjoy breathtaking vistas of the Atlantic with private beach access to renowned Crescent Beach. Some of the most stunning ocean views are the focal of this investment property. Current NOI is $121K. Bring All Offers.
Location
State FL
County St. Johns
Area 5940
Zoning Multi Family
Interior
Heating Central Individual
Cooling Central Individual
Flooring Ceramic Tile, Vinyl Floor
Fireplaces Type Smoke Alarm, Smoke Detector
Exterior
Utilities Available Cable, Electric
Roof Type Built-Up,Comp Rolled
Building
Story 100.00
Construction Status Resale
Others
Acceptable Financing Assumable-Qualify, Cash, Conventional, Cryptocurrency
Listing Terms Assumable-Qualify, Cash, Conventional, Cryptocurrency
Financing Assumable-Qualify,Cash,Conventional,Cryptocurrency
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