3125 Coastal Hwy, St. Augustine, FL 32084

This exceptional value-add investment opportunity in St. Augustine, Florida, presents a rare chance to acquire a multifamily property with significant upside potential. Located at 3125 Coastal Hwy, this property sits on a 0.82-acre lot in the desirable Vilano Beach area, offering mesmerizing ocean views. The property comprises a two-story, concrete block triplex featuring three furnished rental units (a 2/2, a 1/1, and an efficiency unit), plus five additional on-site trailers, totaling ten rental units. The triplex boasts a large deck with ocean views and a private fenced yard, along with a single-car garage. Built in 1947 and renovated in 2020, the 2,641 square foot property is classified as a Class B multifamily building with RG-1 zoning, allowing for nightly vacation rentals. The property includes 12 parking spaces. The location is highly desirable, just steps from private beach access and a block from North Shores Park, which offers community amenities such as a garden and pickleball courts. The sub-dividable lot presents further expansion or redevelopment opportunities, capitalizing on the booming St. Augustine rental market. The asking price is $1,950,000, representing a price per unit of $195,000 and a price per square foot of $738.36. This property is ideal for investors seeking a vacation rental compound, a strategic investment, or a future development project. The property's APN is 149120-0000.