Block Duplex with Two-Story
265 115TH Avenue Treasure Island, FL 33706
For Sale
$785,000
MULTI_FAMILY - TREASURE ISLAND, FL
Property Size2,992 SF
Lot Size0.15 Acres
Price / SF$262.37
Days on Market443
Property Features for 265 115TH Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bedroom 2, Bedroom 4, Bedroom 3, Laundry Room, Bedroom 1, Bathroom 2
- Parking features
- Boat
- Pets allowed
- Yes, Dogs OK, Cats OK
- Exterior features
- Awning(s)
- Appliances
- Dishwasher, Dryer, Microwave, Refrigerator, Washer
- Standard status
- Active
- APN
- 23-31-15-43470-001-0040
- Size
- 2,992 SF
- Lot size
- 0.15 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- ISLE OF PALMS BLK A, LOT 4
- Tax Annual Amount
- 3877
Utilities
- Sewer type
- Public Sewer
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1959
- Floors in Building
- 1
- Number of units
- 2
- Flooring type
- Tile
- Building materials
- Block
- Roof type
- Built-Up
Listing Agency:
LPT REALTY, LLC.
(877) 366-2213
Listed By:
Kristina Gabrielsen · License #3550756
(713) 444-8536
Added: May 9, 2025
Changed: Jul 20
Last Checked: Jul 25 at 8:06AM
MLS# TB8386220
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This solid block duplex includes a two-story block extension constructed in 2018. The property has been fully remediated and has been continuously occupied by the owner, and select updates are planned with pricing subject to change once improvements begin.
Located at 265 115th Avenue in Treasure Island, the property is described as just steps from the Gulf, within a highly desirable multifamily zoning district.
The current duplex configuration combined with the stated multifamily zoning provides a redevelopment path for a variety of residential uses. The asset sits on a compact lot size in the beach community of Treasure Island.
Located at 265 115th Avenue in Treasure Island, the property is described as just steps from the Gulf, within a highly desirable multifamily zoning district.
The current duplex configuration combined with the stated multifamily zoning provides a redevelopment path for a variety of residential uses. The asset sits on a compact lot size in the beach community of Treasure Island.
Key Highlights
- Solid block duplex with a two‑story block extension built in 2018
- Central heating and central A/C; tile flooring throughout
- Kitchen appliances included: dishwasher, microwave, refrigerator, washer and dryer
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $53.5k | $17.88 |
| − Vacancy | −$3.6k | −$1.21 |
| EGI | $49.9k | $16.67 |
| − OpEx | −$15.0k | −$5.00 |
| NOI | $34.9k | $11.67 |
2,992 SF · lease $17.88/SF/yr · vacancy 6.74% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$498.9K
$436.6K – $582.1K
NOI $34,924 @ 7.0% cap · market cap 4.45%
Second Best
Apartment 5plus
$393.1K
$344.0K – $458.6K
NOI $27,518 @ 7.0% cap · market cap 3.51%
Theoretical Best
Office A
$778.2K
$681.0K – $908.0K
NOI $54,477 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Solid block duplex features a two-story block extension built in 2018.
Where is this duplex located?
The property is located at 265 115TH Avenue Treasure Island, FL.
What is the asking price?
The asking price for this property is $785,000.
What are key features of this property?
This property features: Solid block duplex with a two‑story block extension built in 2018; Central heating and central A/C; tile flooring throughout; Kitchen appliances included: dishwasher, microwave, refrigerator, washer and dryer
