tomo logo

$1,200,000

Beds
6
Baths
4.0
sq ft
3,207

5407 29th Ave S, Gulfport, FL 33707

5407 29th Ave S

GULFPORT, FL 33707

  • 8 days on market
RARE GULFPORT INCOME-PRODUCING SINGLE FAMILY HOMES (3) W/ LEGAL AIRBNB GRANDFATHER STATUS | Exceptional Income-Producing Opportunity in Gulfport's Thriving Downtown This rare triple-bungalow property in the heart of vibrant downtown Gulfport, Florida, represents an exceptional investment opportunity. Generating an impressive annual rental income, these three charming bungalows are poised to deliver strong cash flow and long-term appreciation.Each bungalow which is a stand-alone structure x 3 is fully licensed for nightly rentals, an invaluable asset in this vibrant vacation destination. The three bungalows include a 3-bedroom, 2-bath unit, a 2-bedroom, 1-bath unit, and a 1-bedroom, 1-bath unit. Ideally situated just steps from Gulfport's finest dining, shops, beach, marina, and entertainment, the property provides an unbeatable location for short-term guests seeking the authentic charm of this coastal town.With a combined total of six bedrooms and four bathrooms spread across the three units, the layout accommodates large groups and families comfortably. And with the properties being sold fully furnished, including all indoor and outdoor furnishings, this truly is a turnkey investment ready to generate income immediately.  Also, for a value-add play, there is a wonderful opportunity to remodel and revamp the vibe to increase total rental income.Boasting classic bungalow architecture, in-unit laundry, and spacious outdoor amenities like a large courtyard, off-street parking, and lush landscaping, these meticulously maintained properties offer the historic character and modern conveniences that today's discerning travelers demand. Own knowing you have security in Flood Zone X which remained high and dry even during these last 2 storms of 2024.  This investment is primed to capitalize on Gulfport's thriving vacation rental market. Don't miss this exceptional opportunity to own a highly profitable, low-maintenance portfolio of income-producing properties in one of Florida's most desirable coastal destinations.

Details

Property type

Single Family Residence

Est. home value

$1,127,213

Lot size

9,675 sq ft

Price per sq ft

$375

Year built

1940

Annual property taxes

$9,515

HOA

No

Price History

11/14/2024
StellarMLS

StellarMLS #TB8320872

Listed
$1,200,000
+92%
04/30/2018
StellarMLS

StellarMLS #U7845387

Sold
$625,000

Schools & Community

Elementary school: 

Gulfport Elementary-PN

Middle school: 

Azalea Middle-PN

High school: 

Boca Ciega High-PN

Community features: 

Sidewalks

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

Rbh Investm Ant Group Llc

Loan start date

April 2018

Original loan amount

$500,000

Est. remaining balance

Not provided

Interest rate

4.43%

Loan type

Future Advance Clause / Open End Mortgage, 5 year

Seller

Gulfport Cottages Llc

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?

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Status: Active

Tomo last checked: 11/22/2024 at 8:05 AM

Listing updated: 11/17/2024 at 3:13 PM

Listed by: Leisa Mohler-Erickson, ENGEL & VOLKERS ST. PETE Phone #: (727) 295-0000

MLS: StellarMLS #TB8320872

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Recently listed in GULFPORT