1600 Beach Trl Indian Rocks Beach, FL 33785
- Apartment buildings
- 3,100 SF
Current Use by Public Records
- Apartment buildings
Property Details for 1600 Beach Trl
- Year built
- 1960
- Property size
- 3,100 SF
- Property type
- Apartment buildings
Description
This stunning, fully renovated (2023) gulf-front apartment building in Indian Rocks Beach, FL, presents a unique investment opportunity. The property features three units totaling 3,100 square feet, including a spacious 2,050-square-foot owner's unit with three bedrooms and two bathrooms boasting direct beachfront views. Two additional units offer one and two bedrooms respectively, each with a bathroom. The property enjoys 50 feet of direct Gulf frontage. Recent renovations include a new roof with a vaulted ceiling, new AC and mini-split systems, a custom kitchen, new flooring throughout, and a brand-new heated pool with travertine tile and landscaping. All renovations were completed with secured permits. Situated on a 7,871-square-foot lot, this Class B building is zoned for commercial tourist use, allowing for short-term rentals with no minimum stay requirement. The property's 12-foot elevation ensures hurricane protection, as evidenced by zero damage from past hurricanes. The asking price is $4,500,000, with a pro-forma NOI of $363,000 and a pro-forma cap rate of 8.07%. This is a fee-simple ownership opportunity with significant income potential. The property's prime location and exceptional amenities make it an ideal investment for both short-term rental income and long-term appreciation. The building is a single-story structure built in 1960.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Indian Rocks Beach
- County
- Pinellas
- State
- Florida
- Longitude
- -82.8489
- Latitude
- 27.8992
