232 CYPRESS STREET, Tarpon Springs, FL, 34689 | $585,000

Price Drop! INCOME-PRODUCING DUPLEX IN DOWNTOWN TARPON SPRINGS! This charming two-story multi-family home on a corner lot offers two spacious 3-bedroom units in the heart of downtown Tarpon Springs, close to the world-famous Sponge Docks, local theater, boutique shopping, and the Pinellas Trail. Approximately $60K in renovations completed in 2023. Roof replaced July 2020.

UNIT 1 (GROUND FLOOR): 3 bedrooms, 2 full bathrooms including an en-suite primary bedroom. Features Gree mini-split system with dedicated head units in each bedroom (installed 2023), plus a Daikin head unit in the main living area. Kitchen includes stone countertops and wood cabinetry. Updated with Frigidaire stainless steel appliances (refrigerator, range, microwave, dishwasher – 2023). Tiled showers. New blinds and washer/dryer. Wood flooring with tile in kitchen and bathrooms. Private deck (approx. 150 sqft) and covered front porch (approx. 180 sqft).

UNIT 2 (UPPER FLOOR): 3 bedrooms, 1. 5 bathrooms with separate entrance and Venetian plaster entryway. Includes Mitsubishi mini-split systems. Kitchen features stone countertops and wood cabinetry. Tiled showers. Spacious layout with natural light. Wood flooring with tile in kitchen and bathrooms. Private front porch (approx. 28 sqft).

MAJOR IMPROVEMENTS: Foundation reinforced (March 2023) with Smart Jack support system and supplemental beam, with transferable warranty. Both units professionally painted. Updated appliances, blinds, and washer/dryer in Unit 1. Landscaping includes pavers, decorative rock, palm trees, and sprinkler system. 9-camera security system with CAT6 wiring.

FLEXIBLE LIVING OPTIONS: Property is currently configured as a duplex with separate entrances and living spaces. Suitable for a variety of living arrangements. Separate electric meters each unit; single water meter.

AREA ACTIVITY: Tarpon Springs continues to see reinvestment and development activity. Proposed and ongoing projects in the area include boutique hospitality and residential development. Buyer to verify all information.

LOCATION HIGHLIGHTS: Approximately 1 block from the Pinellas Trail. Close to Safford Fitness Park (pickleball courts), Live Oak Recreation Complex (splash park, playground, kayak launch, and dog park), the Sponge Docks, Anclote River, Craig Park, and downtown shops and restaurants.

PROPERTY FEATURES: Vinyl siding. Flood zone designation shown as Zone X; buyer to verify. Corner lot with on-site parking for approximately 6 vehicles. Storage shed (approx. 120 sqft).

INCOME HISTORY: Most recent rental income was $4, 095/month ($49, 140 annually) based on prior lease rates. Property currently vacant.

All financial information is based on seller-provided historical data and is for informational purposes only. Buyer to independently verify all income, expenses, and property details.

Features