$569,000
$569,000
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1 Bed
1 Bath
600 SqFt
SOLD DATE : 09/11/2024
Key Details
Sold Price $569,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 600 sqft
Price per Sqft $948
Subdivision Ebbtide
MLS Listing ID A4620438
Sold Date 09/11/24
Bedrooms 1
Condo Fees $650
Construction Status Inspections
HOA Y/N No
Originating Board Stellar MLS
Year Built 1956
Annual Tax Amount $5,036
Property Description
Investor Alert! Let the numbers do the talking. *Gross revenue after tourist taxes was $71,189. *Occupancy in ’23 was 45 weeks. *All expenses are $19.1k, giving you a net of $52.4k, that’s a cap rate of over 9. EBBTIDE has some of the lowest HOA dues on the Key, and is one of the few properties on the Key that allow One Day Minimum Rentals - no need to miss a revenue producing day.
Now for what you get. *A 600 sq ft 1 bedroom with 1 full bath with a washer/dryer. *Was renovated in 2020 with a new kitchen and furniture. The patio is 240 sq ft, and has a dedicated outdoor shower. It has deeded gulf beach access and use of the Association by the Sea heated saltwater pool.
What the renters say – ‘Fantastic location’, ‘We love this spot’, 'Perfect Siesta Key getaway’. Check out the reviews on Airbnb- 202 reviews that average 4.95 out of 5!
The location is outstanding. Ebb Tide is directly across Midnight Pass Rd from the Crescent Club, Capt. Curt’s, the Daiquiri Deck and everything in the south village. You can walk everywhere! The Siesta Key Trolly stops feet from your door, giving you a FREE ride to the north village and many other places on the Key. No need for a car here.
This is perfect for an owner/operator or seamlessly fold it into your current rentals. Bookings so far this year are $61,142 (including $10K for the remainder of 2024, with 130 days to go. Call now to view this outstanding rental unit.
Location
State FL
County Sarasota
Community Ebbtide
Zoning RMF3
Interior
Interior Features Ceiling Fans(s), Kitchen/Family Room Combo, Open Floorplan, Stone Counters, Thermostat, Window Treatments
Heating Central
Cooling Central Air
Flooring Tile
Furnishings Turnkey
Fireplace false
Appliance Built-In Oven, Cooktop, Dishwasher, Disposal, Dryer, Electric Water Heater, Microwave, Refrigerator, Washer
Laundry Inside
Exterior
Exterior Feature Lighting, Outdoor Grill, Outdoor Shower, Sidewalk
Parking Features Assigned
Community Features Pool, Sidewalks
Utilities Available Cable Connected, Electricity Connected, Sewer Connected, Street Lights, Water Connected
Water Access 1
Water Access Desc Beach,Beach - Access Deeded
Roof Type Shingle
Garage false
Private Pool No
Building
Entry Level One
Foundation Slab
Lot Size Range Non-Applicable
Sewer Public Sewer
Water Public
Structure Type Block
New Construction false
Construction Status Inspections
Others
Pets Allowed No
Senior Community No
Ownership Condominium
Monthly Total Fees $650
Acceptable Financing Cash, Conventional
Membership Fee Required Required
Listing Terms Cash, Conventional
Special Listing Condition None
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