Exciting investment opportunity! $73, 000 Gross Annual Income. Fully updated and renovated multi-family triplex, ZERO deferred maintainance. Nestled in the picturesque coastal town of Indian Rocks Beach, Florida. Offering a unique proposition for both investors and homeowners seeking a prime location. Perfectly positioned just steps away from the beach, access to the intercoastal and the sparkling waters of the Gulf of Mexico, this triplex comprises two charming studio apartments and a main unit with 1100 sq ft featuring three bedrooms one bath private parking, and screened recreation room and private patio. Residents and tenants alike can bask in the glorious Florida sunshine and enjoy the gentle sea breeze from their private patios, providing an ideal space for unwinding after a long day. Moreover, this exceptional triplex provides convenient access to a wide array of local amenities, ensuring a lifestyle of comfort and convenience. With its prime corner location, zoning flexibility, endless possibilities, and strong potential for generating rental income, or building your dream beach getaway, this triplex represents a rare and exceptional investment prospect in one of Florida's most desirable coastal communities. Don't miss out on the chance to make this property your own and capitalize on all that Indian Rocks Beach has to offer.
Property Features:
Exterior:
New roof (2023), New landscaping, new pavers, new driveways, new sprinkler system, new exterior paint, new PVC fencing, new patios on each unit, new exterior lighting, parking for 8-10 cars.
Interior:
All three units Fully Furnished / New Kitchens / appliances / counters and cabinets, new flooring, new doors, new keyless entry, Updated AC units (2021), Updated electric, 3 separate meters, updated plumbing, new interior lighting and fans, new interior paint and moldings.
Highlight:
No short term rental minimum
Room for RV storage or boat storage.
Unit 1 - Rented $3000 a month Lease starts May 1st 2024
Unit 2 - Rented $1500 a month leased started March 1st 2024
Unit 3 - For Rent - $1600 a month
$73K a year Current gross income.
Great 1031 exchange property.
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Contact@raveis.com
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $900,000 | $900,000 | $900,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.125% | 6.875% | 6.750% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.851% | 6.989% | 6.936% |
Monthly Tax Payment | $574 | $574 | $574 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $6,063 | $5,912 | $7,964 |
Total Monthly Payment | $6,762 | $6,611 | $8,663 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.