Multifamily
The Residences at Madeira Beach
115 145th Ave, Madeira Beach, FL 33708
Listing Price: $2,495,000
Cap Rate
4.56%
Number of Units
9
Price/Unit
$277,222
Price/Gross SF
$389.84
Gross SF
6,400
Investment Overview
9-unit multifamily community, steps from gorgeous Gulf of Mexico in Madeira Beach, Florida (Tampa Bay MSA)
The Residences at Madeira Beach
Investment Highlights
- Turnkey asset – all units recently renovated with granite countertops, new appliances, updated bathrooms, new baseboards and fresh interior & exterior paint
- Upside opportunity to increase Effective Gross Income by 12.8% through common area upgrades
- $72,014 two-mile Median Household Income is 24.8% higher than statewide median
- Incredible walkability – three minutes to pristine Gulf of Mexico beach and a wide variety of local bars & restaurants; 1.4 miles to John's Pass Village & Boardwalk, with numerous dining and entertainment options
- Adjacent to Gulf Boulevard with 25,000 vehicles per day and public transportation access
- Madeira Beach Town Center development, 'crown jewel' of community, set to break ground by year-end, one-half-mile from asset
- Less than 30 minutes to CBDs of St. Petersburg and Clearwater; Tampa's Westshore Business District and CDB are less than 45 minutes away
Exclusively Listed By
Listing Price: $2,495,000
Cap Rate
4.56%
Number of Units
9
Price/Unit
$277,222
Price/Gross SF
$389.84
Gross SF
6,400
Investment Highlights
- Turnkey asset – all units recently renovated with granite countertops, new appliances, updated bathrooms, new baseboards and fresh interior & exterior paint
- Upside opportunity to increase Effective Gross Income by 12.8% through common area upgrades
- $72,014 two-mile Median Household Income is 24.8% higher than statewide median
- Incredible walkability – three minutes to pristine Gulf of Mexico beach and a wide variety of local bars & restaurants; 1.4 miles to John's Pass Village & Boardwalk, with numerous dining and entertainment options
- Adjacent to Gulf Boulevard with 25,000 vehicles per day and public transportation access
- Madeira Beach Town Center development, 'crown jewel' of community, set to break ground by year-end, one-half-mile from asset
- Less than 30 minutes to CBDs of St. Petersburg and Clearwater; Tampa's Westshore Business District and CDB are less than 45 minutes away
Investment Overview
9-unit multifamily community, steps from gorgeous Gulf of Mexico in Madeira Beach, Florida (Tampa Bay MSA)
Exclusively Listed By
