12321 Gulf Boulevard

Treasure Island, FL 33706

$3,295,000
Price
10
Beds
4,846 Sq. Ft.
$680 / Sq. Ft.
4,846
Sq. Ft.
$680
per Sq. Ft.

Description

The Bungalows welcomes investors with an impressive 11 CAP RATE! This 10 unit plus office licensed hotel offers high income potential in its current use and intriguing value for future use of its four buildings and three parcels. A newly resurfaced pool and new pool equipment await guests. Two of the four buildings lay adjacent to the pool, offering multiple rentals just steps to a relaxing dip or lounging on the pool deck. The Bungalows offers studios, one and two bedroom units to appeal to all...The Bungalows welcomes investors with an impressive 11 CAP RATE! This 10 unit plus office licensed hotel offers high income potential in its current use and intriguing value for future use of its four buildings and three parcels. A newly resurfaced pool and new pool equipment await guests. Two of the four buildings lay adjacent to the pool, offering multiple rentals just steps to a relaxing dip or lounging on the pool deck. The Bungalows offers studios, one and two bedroom units to appeal to all types of vacationers. Every unit features a kitchenette making them feel like a home away from home. The charm and pride of ownership also extends to the multiple outdoor spaces frequently raved about in reviews. Relax under shade, unwind in an Adirondack chair or play corn hole in the Florida sun - there are many options for outdoor enjoyment here. Each unit has direct access to outdoor areas made to feel like a private oasis for guests. This boutique hotel offers new roofs, HVAC and water heaters presenting the buyer with a low maintenance, tropical sanctuary. New floors and cabinets are just another highlight. Prime Gulf Blvd location with direct access to a crosswalk makes staying here a breeze for guests. The property is a two minute walk to Pinellas County's #1 tourist destination John's Pass Village & Boardwalk featuring shopping, restaurants, jet ski rentals, sunset cruises, fishing charters and live music. Treasure Island beach is located steps away and beacons guests to relax and stay a while. A boat ramp is located steps from this property making kayaking a breeze. Kayak, jet ski and floating tiki hut rentals routinely make arrangements to pick up guests here. This property is currently in the process of being renovated after receiving water intrusion from Hurricane Helene. Permits are already in place, giving the new owner the opportunity to be one of the first hotels reopening on the beaches and to take advantage of the busy winter and spring seasons. Additional 8 unit hotel for sale next-door, schedule your tour today.
  1. Listed by Evan Pedone • ENGEL & VOLKERS MADEIRA BEACH
  2. Listed by Ashley Pedone • ENGEL & VOLKERS MADEIRA BEACH

Property Details for 12321 Gulf Boulevard

Subdivision Name
CONEY ISLAND
Township
31
Waterfront
No
LISTING UPDATED: 11/19/2024 10:41 AM

Property Details for 12321 Gulf Boulevard

StatusActive
MLS #TB8322059
Days on Market2
Taxes$12,505 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Multi-Family
Year Built1948
Lot Size0.40 AC / 17,594 SF
CountyPinellas County

Building Information for 12321 Gulf Boulevard

Stories-Residences10Year Built1948Building Size-Lot Size0.40 AC / 17,594 SF

Property Information for 12321 Gulf Boulevard

Summary
Location and General Information
  • Building Area Source: Public Records
  • Building Area Total: 6332.0
  • Building Area Units: Square Feet
  • Directions: From Central Ave turn right onto Gulf Blvd. Turn right onto 124 Ave W. Parking spaces on right side of street.
  • Mls Major Change Type: New Listing
  • Major Change Type: New Listing
  • Listing Service: Full Service
  • Senior Community: No
  • Unit Number: No
  • Street Number: 12321
  • Street Name: GULF
  • Street Suffix: BOULEVARD
  • State: FL
  • City: TREASURE ISLAND
Parking
  • Available For Lease: Yes
  • Carport: No
  • Garage: No
Taxes and HOA Information
  • Association Approval Required: No
  • Association: No
  • CDD: No
  • Tax Block: 11
  • Tax Book Number: 5-34
  • Tax Legal Description: CONEY ISLAND BLK 11, LOTS 7 AND 8, CONEY ISLAND BLK 11, LOT 6 LESS RD R/W; CONEY ISLAND BLK 11, LOT 5 LESS RD R/W
  • Tax Lot: 7
  • Tax Year: 2023
Property
Lot Information
  • Additional Parcels Description: 15-31-15-17784-011-0060, 15-31-15-17784-011-0050
  • Additional Parcels: Yes
  • Parcel Number: 15-31-15-17784-011-0070
  • Total Acreage: 1/4 to less than 1/2
  • Total Num Buildings: 5
  • Water Access: No
  • Water Extras: No
  • Living Area: 4846
Property and Assessments
  • Year Built Numeric: 1948
  • Flood Zone Code: AE
  • New Construction: No
  • Number Of Lots: 3
  • Public Survey Range: 15
  • Public Survey Section: 15
Utilities
  • Sewer: Public Sewer
  • Utilities: Electricity Connected, Phone Available, Public, Sewer Connected, Street Lights, Water Connected
  • Water Source: Public
Interior and Exterior Features
Exterior Features
  • Construction Materials: Concrete, Stucco
  • Exterior Features: Courtyard, Fenced, Sidewalk, Storage
  • Foundation Details: Slab
  • Pool Features: Gunite, In Ground
  • Pool Private: Yes
  • Pool: Private
  • Pool Private: Yes
  • Roof: Metal
  • Waterfront Feet Total: 0
Interior Features
  • Bedrooms Total: 10
  • Cooling: Central Air
  • Fireplace: No
  • Heating: Central, Electric
  • Interior Features: Kitchen/Family Room Combo, Solid Wood Cabinets, Stone Counters, Thermostat
  • Laundry Features: Laundry Room
  • Living Area Source: Public Records
  • Living Area Units: Square Feet
  • Water View: No
Multi Family
Multi-Family Information
  • Annual Net Income: $349,000.00
  • Gross Income: $463,000
  • Unit Count: 4
Unit 1
  • Unit Type Baths Total 1: 1
  • Unit Type Beds Total 1: 0
  • Unit Type Pro Forma 1: 150000
  • Unit Type Type 1: Studio
  • Unit Type Units Total 1: 3
Unit 2
  • Unit Type Baths Total 2: 1
  • Unit Type Beds Total 2: 0
  • Unit Type Pro Forma 2: 55000
  • Unit Type Type 2: Studio
  • Unit Type Units Total 2: 1
Unit 3
  • Unit Type Baths Total 3: 1
  • Unit Type Beds Total 3: 1
  • Unit Type Pro Forma 3: 120000
  • Unit Type Type 3: 1 Bed/1 Bath
  • Unit Type Units Total 3: 2
Unit 4
  • Unit Type Baths Total 4: 1
  • Unit Type Beds Total 4: 2
  • Unit Type Pro Forma 4: 300000
  • Unit Type Type 4: 2 Bed/1 Bath
  • Unit Type Units Total 4: 4
Rental
Rental Information
  • Minimum Lease Period: 0

Property History for 12321 Gulf Boulevard

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 12321 Gulf Boulevard

Taxable ValueLand-Additions-Total-
Tax Record2023$5,101 ($425 / month)
Home Facts
Baths2Total Finished SqFt920 SqFtAbove Grade Finished SqFt920 SqFtStories1Lot Size3,742 SqFtStyleHotel / MotelYear Built1951Year Renovated2007CountyPINELLASAPN15-31-15-17784-011-0050

Schools near 12321 Gulf Boulevard

This home is within Pinellas.
Rating
School
Type
Grades
Distance
Azalea Elementary School
Public - PK to 5
Azalea Middle School
Public - 6 to 8
Boca Ciega High School
Public - 9 to 12
Madeira Beach Fundamental K-8
Public - K to 8
Rating
School
Distance
Azalea Elementary School
PublicPK to 5

Azalea Middle School
Public6 to 8

Boca Ciega High School
Public9 to 12

Madeira Beach Fundamental K-8
PublicK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 12321 Gulf Boulevard, Treasure Island, FL 33706

12321 Gulf Boulevard is a multi-family home for sale in Treasure Island, FL 33706. This property was listed for sale on November 16, 2024 by ENGEL & VOLKERS MADEIRA BEACH, it's currently listed at $3,295,000. It has been on the market for a total of 2 days and was last sold on February 7, 2022. This listing's school district is Pinellas. Nearby schools include Azalea Elementary School, Azalea Middle School and Boca Ciega High School. 12321 Gulf Boulevard is a 10-bed, 0-bath, 4,846 sqft multi-family home built in 1948.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of ENGEL & VOLKERS MADEIRA BEACH, Evan Pedone; ENGEL & VOLKERS MADEIRA BEACH, Ashley Pedone

The information being provided by MFRMLS and Daytona Multiple Listing Service is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumer may be interested in purchasing. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of MFRMLS or Daytona Multiple Listing Service. Real estate listings held by brokerage firms other than this site owner are marked with the IDX/MLS logo. Information deemed reliable but is not guaranteed accurate by MFRMLS or Daytona Multiple Listing Service. Last updated: 11/19/2024 10:41 AM