Multifamily Property with Gulf-View
For Sale
$1,399,000
40 77TH Avenue, Treasure Island, FL 33706
MULTI_FAMILY - TREASURE ISLAND, FL
Property Size5,168 SF
Lot Size0.13 Acres
Price / SF$270.70
Days on Market94
Property Features for 40 77TH Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
9
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 5, Bathroom 6, Bedroom 4, Bedroom 1, Bedroom 6, Bathroom 3, Bathroom 4, Bathroom 7, Bedroom 3, Bathroom 2, Bathroom 8, Bedroom 8, Bedroom 7, Bedroom 2, Bedroom 5, Bathroom 1, Bedroom 9
Window features
Shutters
Patio and Porch features
Patio
Interior features
Ceiling Fans(s), High Ceilings, Open Floorplan, Vaulted Ceiling(s), Window Treatments
Exterior features
Balcony, Fence, Hurricane Shutters, Sliding Doors, Storage
Fencing
Fenced
Appliances
Built-In Oven, Cooktop, Dishwasher, Dryer, Range, Refrigerator, Washer
Subdivision
SUNSET BEACH
Lot features
City Limits
View
Ocean, Water
Directions
Gulf Blvd to South on West Gulf Blvd to 77th Ave to address. 77th is the last East-West Street on Sunset Beach.
Special listing conditions
Probate Listing
Standard status
Active
APN
36-31-15-87462-000-0220
Size
5,168 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SUNSET BEACH UNIT 5 LOT 22 & E 22FT OF LOT 21
Tax Annual Amount
8031
Legal Description
SUNSET BEACH UNIT 5 LOT 22 & E 22FT OF LOT 21
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
covered porch
common area laundry/storage room
hurricane shutters
Building Details
Year built
1951
Flooring type
Wood
Building materials
Block, Wood Siding
Roof type
Built-Up
Additional Structures
Storage
Listing Agency:
COMPASS FLORIDA LLC
(727) 339-7902
Listed By:
Dawn Fader · License #3112950
(727) 687-2522
Added: May 1
Changed: Jul 30
Last Checked: Aug 2 at 2:06PM
MLS# TB8503930
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 multifamily property is configured for multi-generational living plus income, with space that can be reconfigured to fit new needs. The top floor offers over 2,700 square feet of living space, currently arranged as one 3 bed/2 bath unit and one 2 bed/1 bath unit. Interior features include real wood floors, vaulted ceilings, an open floor plan, and an abundance of windows. A covered porch with over 900 square feet and Gulf views is enclosed with hurricane shutters.
On the ground floor, there are four 1 bed/1 bath units plus one efficiency unit. A common area laundry/storage room and a 1-car garage are also on-site. The property totals 6,650 square feet, with 5,168 heated square feet on a 57x100 lot. Built in 1951 with block construction and wood siding, the roof is built-up, and utilities include cable available, with public water and public sewer.
The ground floor was impacted by Hurricane Helene and has not been remediated, and the property is being sold as-is. Buyer is responsible for confirming building potential with the City of Treasure Island. The location is on the far south end of Sunset Beach, just steps from the Beach and Blind Pass Waterway.
On the ground floor, there are four 1 bed/1 bath units plus one efficiency unit. A common area laundry/storage room and a 1-car garage are also on-site. The property totals 6,650 square feet, with 5,168 heated square feet on a 57x100 lot. Built in 1951 with block construction and wood siding, the roof is built-up, and utilities include cable available, with public water and public sewer.
The ground floor was impacted by Hurricane Helene and has not been remediated, and the property is being sold as-is. Buyer is responsible for confirming building potential with the City of Treasure Island. The location is on the far south end of Sunset Beach, just steps from the Beach and Blind Pass Waterway.
Key Highlights
- Total 6,650 SF with 5,168 heated SF on a 57x100 lot
- Top floor: one 3 bed/2 bath unit plus one 2 bed/1 bath unit
- Ground floor: four 1 bed/1 bath units plus one efficiency unit
Financial Insights For Apartment 5plus
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 | $93.0k | $18.00 |
| − Vacancy | −$6.6k | −$1.28 |
| EGI | $86.4k | $16.72 |
| − OpEx | −$38.9k | −$7.52 |
| NOI | $47.5k | $9.20 |
5,168 SF · lease $18.00/SF/yr · vacancy 7.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$679.0K
$594.1K – $792.2K
NOI $47,531 @ 7.0% cap · market cap 3.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.34M
$1.18M – $1.57M
NOI $94,097 @ 7.0% cap · market cap 6.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
882
Businesses Nearby
Explore this area
Business Placement
Demographics for 33706, FL
15,309
Population
14,199
Households
1.1
Avg Household Size
60
Median Age
54%
College-Educated
97%
High-School Grad
3.7 sq mi
ZIP Area
4,138
Density / Sq Mi
$97,364
Median Household Income
$80,504
Median Earnings
$1,646
Median Rent
$616,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Top-floor living space with Gulf-view covered porch; ground-floor units and efficiency sold as-is after Hurricane Helene impact.
Where is this apartment building located?
The property is located at 40 77TH Avenue Treasure Island, FL.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: Total 6,650 SF with 5,168 heated SF on a 57x100 lot; Top floor: one 3 bed/2 bath unit plus one 2 bed/1 bath unit; Ground floor: four 1 bed/1 bath units plus one efficiency unit
