$899,000 ($276 per SQ/FT)
551 BROADWAY STREET, #1, Longboat Key, FL, Florida 34228. Reduced $450K! New zoning may permit up to 6 NEW multi-family homes to be built in place of existing 6 unit multi-family vintage structure. A rare, seaside income opportunity on boating water nestled between the Gulf and the bay. This unique, 1946 vintage, 6-unit limestone structure is located on a corner lot on one of the original building sites in the Historic Village of Long Beach on tropical North Longboat Key. Included are 3 platted non-conforming contiguous lots; two are vacant residential waterfront lots (7009 & 7017 Longboat Drive N.) Located just .01 mile to the beach access to Longboat Key's famous beaches and the waters of the Gulf of Mexico. New seawall cap, no bridges to the bay and direct access in minutes to Longboat Pass and the Gulf of Mexico. In operation since the 1800s, the Historic Village offers a treasured island lifestyle with restaurants and a Center for the Arts, nearby community boat ramp and fishing piers. Although the value is mainly in the land (2 conforming lots), the historic value and renewed interest in vintage buildings is of interest. The six rental units include five efficiency units and one, one-bedroom unit. There is no recent rental history, however, a limited past history is available. The popular waterfront Mar Vista Restaurant is just two blocks away. The island trolley, a block away, heads north to Anna Maria Island's restaurants and boutiques, or south to St. Armands Circle for shopping, dining and nightlife.
Listing courtesy of PREMIER SOTHEBYS INTL REALTY