Sunset Beach Multi-Unit Income
For Sale
$1,299,000
40 77th Avenue, Treasure Island, FL 33706
Steps from the beach, multi-unit property with income potential.
Property Size5,168 SF
Lot Size0.13 Acres
Price / SF$251.35
Days on Market164
Property Features for 40 77th Avenue
General Information
Standard status
Active
Size
5,168 SF
Lot size
0.13 Acres
Property subtype
Residential Income / Quadruplex
Taxes and HOA fees
Annual Taxes
$8,031
Amenities
Wall/Window Unit(s)
Hardwood
No
Built-In Oven, Cooktop, Dishwasher, Dryer, Range, Refrigerator, Washer
Yes
9
Shutters
Great Room, Inside Utility
Common Area, Inside
Ceiling Fan(s), High Ceilings, Open Floorplan, Vaulted Ceiling(s), Window Treatments
Square Feet
Public Records
Built-Up
Balcony, Fenced, Hurricane Shutters, Sliding Doors, Storage
Block, Slab
Block, Wood Siding
Covered, Patio
Building Details
Year Built
1951
Listing Agency:
Compass
Listed By:
Dawn Fader · License #3112950
(727) 687-2522
Source:
Compass
Added: Apr 30
Changed: Oct 8
Last Checked: Oct 9 at 10:24PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass
Investment Insights
Based on property information with market context.
Located on the south end of Sunset Beach, this property offers proximity to the beach and Blind Pass Waterway. The top floor features over 2700 square feet of living space, currently configured as one 3-bedroom, 2-bath unit and one 2-bedroom, 1-bath unit, with the potential for reconfiguration. This floor includes real wood floors, vaulted ceilings, an open floor plan, and an abundance of windows. A covered porch provides over 900 square feet of space with Gulf views and hurricane shutters. The ground floor contains four 1-bedroom, 1-bath units and one efficiency unit, along with a common area laundry/storage room and a 1-car garage. The property has a total square footage of 6650, with 5168 heated square feet on a 57x100 lot. The ground floor was impacted by Hurricane Helene and has not been remediated. The property is to be sold As Is. This property has been used for multi-generational living plus income for many years and offers an opportunity to bring this special property back to life or re-imagine its next chapter in this beautiful setting on Sunset Beach.
Key Highlights
- Steps from the Beach & Blind Pass Waterway on Sunset Beach.
- Large top floor with over 2700 sq. ft., configurable as one 3 Bed/2 Bath and one 2 Bed/1 Bath unit.
- Income‑producing potential with existing ground floor units (Four 1 Bed/1 Bath and One Efficiency).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,531
Cap Rate
3.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$950,620
$950.6K
Cap Rate 7%
$679,014
$679.0K
Cap Rate 9%
$528,122
$528.1K
Market Conditions
NOI Build-Up for 5,168 SF
Gross rent
$93.0K $18.00/SF
− Vacancy
−$6.6K −$1.28/SF
EGI
$86.4K $16.72/SF
− OpEx
−$38.9K −$7.52/SF
NOI
$47.5K $9.20/SF
Area
Pinellas County, FL
Vacancy
7.10%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$950,620
Cap Rate 7%
$679,014
Cap Rate 9%
$528,122
Alternative Uses
Best Use
Apartment 5plus
$679.0K
$594.1K – $792.2K
NOI $47,531 @ 7.0% cap · market cap 3.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.34M
$1.18M – $1.57M
NOI $94,097 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Steps from the beach, multi-unit property with income potential.
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 $1,299,000.
What are key features of this property?
This property features: Steps from the Beach & Blind Pass Waterway on Sunset Beach.; Large top floor with over 2700 sq. ft., configurable as one 3 Bed/2 Bath and one 2 Bed/1 Bath unit.; Income‑producing potential with existing ground floor units (Four 1 Bed/1 Bath and One Efficiency).
