tomo logo

$425,000

Beds
3
Baths
2.0
sq ft
1,504

2404 53rd St S, Gulfport, FL 33707

2404 53rd St S

GULFPORT, FL 33707

  • 162 days on market
    • Price drop $60,000↓
Calling all Investors, Contractors and Experienced Home Buyers! Located in lively Gulfport, this multi faceted property presents a unique investment opportunity and tons of untapped potential. This previous 4-plex is now a partially remodeled home, yet is currently comprised of two structures on a sizable lot with back alley access. This property offers versatility and adaptability to suit a variety of investment strategies or primary home buyer needs. The primary home, situated at the forefront of the property, exudes charm with its cottage style architecture and old Gulfport feel. Previous plans include two bedrooms, two baths, lots of living space and a cozy fireplace, setting the stage for serene evenings or lively gatherings. However, it's the second building, currently in need of extensive work or replacement, that unveils a canvas of opportunity for reimagination, awaiting transformation into additional living space, an oversized garage or other possibilities, subject to the buyer's vision and local regulations. Buyers are urged to conduct thorough due diligence to verify all dimensions, permits, and plans, ensuring alignment with their investment objectives and regulatory requirements. While the primary home offers more immediate occupancy potential, the incomplete status of the second building presents an exciting prospect for investors. This will be a revitalization project and become a true Gulfport gem when you take this property to its full potential. Whether pursuing rental income, multi-generational living arrangements, or redevelopment, this property stands poised to deliver both immediate returns and long-term value appreciation in a sought-after locale. With its strategic location, this property epitomizes the essence of real estate opportunity. Seize the chance to shape its destiny and unlock its full potential, transforming this gem into a lucrative investment or a place to call home for generations to come. Buyer discretion is advised, and exploration of the myriad of possibilities awaits those with the foresight and determination to make this vision a reality. Currently, property does have permits that were abandoned and may need to be addressed by the new and future owner. These permits will not be addressed by current owner or before Closing as current owner will not be completing the existing project or beginning any new remodel project. New Permits will be required to proceed with any remodel or build. Buyer due diligence is required. One or more photos has been virtually staged to help showcase the intended use and true potential of spaces both inside and outside of the home.

Details

Property type

Single Family Residence

Est. home value

$376,859

Lot size

8,102 sq ft

Price per sq ft

$283

Year built

1923

Annual property taxes

$5,429.37

HOA

No

Price History

10/18/2024
StellarMLS

StellarMLS #A4613856

Price change
$425,000
-12.37%
08/23/2024
StellarMLS

StellarMLS #A4613856

Listed
$485,000
08/04/2024
StellarMLS

StellarMLS #A4613856

Pending
$485,000

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

Stonecreek Funding Corp

Loan start date

March 2006

Original loan amount

$236,250

Est. remaining balance

Not provided

Interest rate

8.37%

Loan type

Not Provided, 30 year

Seller

Patrick L Lincoln

Lender

Stonecreek Funding Corp

Loan start date

March 2006

Original loan amount

$78,750

Est. remaining balance

Not provided

Interest rate

6.24%

Loan type

Commercial, 30 year

Seller

Patrick L Lincoln

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Similar Homes Nearby

Price drop
StellarMLS
$395,000
3 bd
|
2 ba
|
1,127 sq ft
|
House

2709 57th St S, Gulfport, FL 33707

New
StellarMLS
$390,000
3 bd
|
2 ba
|
1,104 sq ft
|
House

5019 Jersey Ave S, Gulfport, FL 33707

Price drop
StellarMLS
$409,900
3 bd
|
2 ba
|
1,453 sq ft
|
House

5609 15th Ave S, Gulfport, FL 33707

Status: Active

Tomo last checked: 11/22/2024 at 2:10 PM

Listing updated: 11/15/2024 at 3:57 PM

Listed by: Candance Amorim de Rezende, KELLER WILLIAMS ST PETE REALTY Phone #: (727) 894-1600

MLS: StellarMLS #A4613856

StellarMLS logo

Recently listed in GULFPORT