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Key Details
Sold Price $423,000
Property Type Multi-Family
Sub Type Duplex
Listing Status Sold
Purchase Type For Sale
Square Footage 1,224 sqft
Price per Sqft $345
Subdivision Leisure Beach
MLS Listing ID T3486265
Sold Date 12/11/23
Bedrooms 4
HOA Y/N No
Originating Board Stellar MLS
Year Built 1972
Annual Tax Amount $6,296
Lot Size 4,791 Sqft
Acres 0.11
Lot Dimensions 48x100
Property Description
Amazing investment opportunity for the savvy buyer! This adorable duplex is fully set up and operating as a mid-term rental for traveling professionals, snow birds, and those needing temporary housing. Each unit has maintained an 88% occupancy rating since first listing in September '21, renting at an average of $2,750/mo EACH. Annual gross rent = $66,000 / Annual Expenses = $19,000 / Annual Net Total = $47,000. That's an 11% cap rate! Sitting on a tidal water canal with a floating dock, you can access the Gulf by boat, jet ski, kayak, or SUP in no time! Guests love to fish off the dock and spot the occasional dolphin or manatee swimming by. Furnished with a coastal theme, all the decorations, furniture, linens, dishes, etc will convey with the sale. The home is in great shape with the roof only 5 years old and the inside/outside recently repainted. Each unit has 2 bedrooms, 1 bathroom with a lanai and stackable washer/dryer. There is literally nothing to do except buy and start making money! The large parking pad fits 4 vehicles comfortably. No HOA but owners have the option of being a member of the Leisure Beach Civic Association for a low $50/year. Leisure Beach is a wonderful community with annual cook offs, a Christmas Boat Parade, and regular community events. Per Pasco County regulations, renting for less than 30 days is not currently allowed but there is a huge demand for mid-stay renting! Property is currently advertised across all major platforms with excellent ratings. Many bookings come direct or by word of mouth. This is a great property for anyone just starting in the vacation rental business or someone looking to add to their portfolio. Property qualifies for FHA and VA as well! Live in one side and rent the other out! Already booked at 60% occupancy through Feb '24, buyer can keep these bookings! Operating expenses, booking records, survey, elevation certificate, and 4 point report from 2 years ago available upon request. Both sides are currently occupied, please do not disturb the guests. Video tour available as well.
Location
State FL
County Pasco
Community Leisure Beach
Zoning MF1
Rooms
Other Rooms Florida Room, Storage Rooms
Interior
Interior Features Ceiling Fans(s), Living Room/Dining Room Combo, Window Treatments
Heating Electric, Radiant Ceiling
Cooling Wall/Window Unit(s), Zoned
Flooring Tile
Furnishings Negotiable
Fireplace false
Appliance Dryer, Electric Water Heater, Microwave, Range, Refrigerator, Washer
Laundry Other
Exterior
Exterior Feature Rain Gutters, Storage
Parking Features Boat, Golf Cart Parking, Parking Pad
Utilities Available BB/HS Internet Available, Electricity Connected, Sewer Connected, Water Connected
Waterfront Description Canal - Saltwater
View Y/N 1
Water Access 1
Water Access Desc Canal - Saltwater,Gulf/Ocean
View Water
Roof Type Shingle
Porch Enclosed, Front Porch
Attached Garage false
Garage false
Private Pool No
Building
Lot Description Flood Insurance Required, FloodZone, In County, Near Marina, Near Public Transit, Paved
Entry Level One
Foundation Slab
Lot Size Range 0 to less than 1/4
Sewer Public Sewer
Water Public
Structure Type Block,Stucco
New Construction false
Schools
Elementary Schools Gulf Highland Elementary
Middle Schools Hudson Middle-Po
High Schools Fivay High-Po
Others
Pets Allowed Number Limit, Yes
Senior Community No
Pet Size Extra Large (101+ Lbs.)
Ownership Fee Simple
Acceptable Financing Cash, Conventional, FHA, Private Financing Available, VA Loan
Listing Terms Cash, Conventional, FHA, Private Financing Available, VA Loan
Num of Pet 2
Special Listing Condition None
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Bought with KELLER WILLIAMS REALTY NEW TAMPA