$425,000

About This Property

Incredible opportunity to own this charming Maderia Beach duplex located just steps to the water! Both units are currently tenant occupied and below market rate providing a perfect value add opportunity for the new buyer. The unit mix consists of two 1 bed, 1 bath units, both featuring, wonderful screened-in porches, small storage closets, and separate driveways for each unit. The property currently operates right around a 4% CAP rate, however, Increasing the rents to market rate put it at a 6.3% CAP rate. Perfect opportunity for an Investor looking for passive income in one of Florida's most desired and relaxed beach towns around! Also, the potential for an owner occupant to live in one unit and have the other tenant pay your mortgage once leases expire. Both leases are currently through Dec. 31st, 2022. Visit Crexi Link to view OM: https://www.crexi.com/properties/825769/florida-maderia-beach-duplex---63-cap. Don't delay & schedule your showing today!

infoProperty Details

Property Type

Duplex

Year Built

1951

Living Area

998 sqft

Lot Size

0.07 acres

Bathrooms

0

Ownership

Fee Simple

Days on Market

2

List Date

May 17, 2022

Sold Date

chairInterior Features

yardExterior & Lot

Listed By

MCBRIDE KELLY & ASSOCIATES

813-254-0900