1803 Gulf Blvd
Indian Rocks Beach, FL 33785
$2,400,000
Last Sold Price
18
Beds
15
Baths
8,101 Sq. Ft.
$296 / Sq. Ft.
8,101
Sq. Ft.
$296
per Sq. Ft.
Sold 10/14/24
Sold 10/14/24
Description
CASH OR OWNER FINANCING ONLY (50% MINIMUM DOWN PAYMENT) This is a high vacancy property with delayed maintenance awaiting for the new owner(s)/operator(s) to transform it. excellent opportunity to acquire a rare non-conforming 14 unit licensed VALUE ADD Motel on the market in primo location, off Gulf Blvd on Indian Rocks Beach, FL! The Sea Star Motel, a family owned and operated Motel over the last 25 years hits the market! The property consist of 13 units ( efficiencies, one bedroom/one bathroom,...CASH OR OWNER FINANCING ONLY (50% MINIMUM DOWN PAYMENT) This is a high vacancy property with delayed maintenance awaiting for the new owner(s)/operator(s) to transform it. excellent opportunity to acquire a rare non-conforming 14 unit licensed VALUE ADD Motel on the market in primo location, off Gulf Blvd on Indian Rocks Beach, FL! The Sea Star Motel, a family owned and operated Motel over the last 25 years hits the market! The property consist of 13 units ( efficiencies, one bedroom/one bathroom, two bedroom/one-two baths) and the owner’s home (14th unit) a 2 bedroom/2 bathroom home with large office that can be converted to third bedroom, living room, dinning, and ability to reconfigure to 4/2 that sits over two car garage plus two carport. Guest will enjoy stunning views of the Gulf of Mexico from the stop of the stairs, front porch, with Hot tub. All units are combined on Three parcels, two facing Gulf Blvd, in total 8,100 living sqft/9,834 over roof sqft, four (4) Buildings and separate building for laundry and storage(5th building) in total. Sale Price includes all furnishings for units 1-13. All rooms have full size kitchen or kitchenettes with multiple laundry on site. There is ample guest parking, boat, RV, Trailor, for additional revenue. There are several Value-add strategies: 1. Owner/operator optimizes bookings, rebrands Motel, brings in professional management, renovates units, can live on site or off site to maximize ROI. There is enough space in the court yard to add in a New Pool and still have plenty of outdoor guest space. The Nightly rates are well below market and owners are aware. See website for current boking prices. This creates an opportunity for new owner/operator to capture lost revenue from sub market rates. 2. Use some units as month to month or furnished longer term rentals with no leases in place therefore, new owner/operator can operate as full time Motel or allow Short term rental bookings via VRBO/AirBNB. Of importance when performing your independent financial analysis/ underwriting, Owner’s home/unit has never been leased due to owner occupancy onsite full time. The single family home has the ability to reconfigure to allow 8+ guest due to its size of just under 1700sqft. 3. Alternatively, A developer could assemble all three parcel and rezone to achieve 8+ Luxury townhomes (speak to local zoning) up to 35ft each with variable density and sqft. Indian Rocks Beach zoning and municipality currently allows short term rentals with no minimum day restrictions. Therefore, a savvy Investor/Developer can capitalize on this rare opportunity. Multiples offers are expect as property is priced for quick sale with minimal inspection/due diligence period. No HOA, Condo, Deed restrictions, a rare fee simple Motel ready for the new owner. Please note this business is an active Motel with guest therefore, shown by appointment only. Sellers will consider Owner financing with 50% downpayment to qualified and experienced Hotel/Motel Investor-Operators who have a proven and verifiable track record with similar projects. Financials and creditworthiness will be independently evaluated by sellers to consider owner financing terms. Do not walk, solicit, or disturb guest or owners. A non-disclosure agreement (NDA) must be signed by all parties prior to sharing any inspections, disclosures, Financials, and offering memorandum package.
- Listed by Ben Mitrano PA • Brokerage DRE #1064576 • LPT REALTY, LLCP: (727)-504-3490 C: (727)-504-3490 tampabencrr@gmail.com
Property Details for 1803 Gulf Boulevard
Subdivision Name
INDIAN BEACH RE-REVISED
Township30
Carport Spaces2
Garage Spaces2
ViewWater
WaterfrontNo
Water ViewGulf/Ocean - Partial, Gulf/Ocean to Bay
FurnishedFurnished
LISTING UPDATED: 10/15/2024 11:33 PM
Property Details for 1803 Gulf Boulevard
| Status | Sold |
|---|---|
| MLS # | U8255142 |
| Days on Market | 7 |
| Taxes | $8,038 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | - |
| MLS Type | Sale / Commercial / HOTEL / MOTEL |
| Year Built | 1991 |
| Lot Size | 0.52 AC / 22,500 SF |
| County | Pinellas County |
Location
Listing Courtesy of LPT REALTY, LLC, Ben Mitrano PA
Sold By LPT REALTY, LLC, Ben Mitrano PA
Add your commute
Building Information for 1803 Gulf Boulevard
Stories-Residences14Year Built1991Lot Size0.52 AC / 22,500 SF
Payment Calculator
$13,244 per month
30 year fixed, 6.845% Interest
Principal and Interest
$12,575
Property Taxes
$670
HOA Dues
$0
The Payment Calculator is for illustrative purposes only.
Property Information for 1803 Gulf Boulevard
Summary
Location and General Information
- Building Area Source: Public Records
- Building Area Total: 9834.0
- Building Area Units: Square Feet
- Directions: turn right on gulf blvd heading south from Belleair cause way. across the street from IRB public parking lot.
- Mls Major Change Type: Sold
- Major Change Type: Closed
- Listing Service: Full Service
- Senior Community: No
- Unit Number: No
- Street Number: 1803
- Street Name: Gulf
- Street Suffix: BOULEVARD
- State: FL
- City: INDIAN ROCKS BEACH
Parking
- Attached Garage: Yes
- Carport: Yes
- Garage: Yes
Taxes and HOA Information
- Association: No
- CDD: No
- Tax Block: 64
- Tax Book Number: 5-6
- Tax Legal Description: INDIAN BEACH RE-REVISED BLK 64, LOT 3, 4, and 5
- Tax Lot: 5
- Tax Year: 2023
Virtual Tour
- Virtual Tour URL Unbranded: https://www.propertypanorama.com/instaview/stellar/U8255142
Property
Lot Information
- Additional Parcels Description: 01-30-14-42030-064-0050 01-30-14-42030-064-0040
- Additional Parcels: Yes
- Lot Features: Corner Lot
- Parcel Number: 013014420300640050
- Total Acreage: 1/2 to less than 1
- Total Num Buildings: 4
- Water Access: No
- Water Body Name: Gulf Of Mexico
- Water Extras: No
- Living Area: 8101
Property and Assessments
- Year Built Numeric: 1991
- Flood Zone Code: AE
- Flood Zone Date: 08-24-2021
- Flood Zone Panel: 12103C0113H
- New Construction: No
- Number Of Lots: 3
- Property Attached: Yes
- Public Survey Range: 14
- Public Survey Section: 01
- Dock YN: No
Utilities
- Sewer: Public Sewer
- Utilities: Cable Available
- Water Source: Public
Interior and Exterior Features
Exterior Features
- Construction Materials: Block, Concrete, Stucco, Wood Frame, Wood Siding
- Exterior Features: Balcony, Outdoor Grill, Outdoor Shower, Sidewalk
- Foundation Details: Block, Pillar/Post/Pier, Slab, Stilt/On Piling
- Levels: One
- Pool Private: No
- Pool: None
- Pool Private: No
- Roof: Shingle
- Waterfront Feet Total: 0
Interior Features
- Bedrooms Total: 18
- Appliances: Bar Fridge, Built-In Oven, Cooktop, Dishwasher, Disposal, Dryer, Electric Water Heater, Exhaust Fan, Freezer, Ice Maker, Microwave, Range, Washer
- Cooling: Central Air
- Fireplace Features: Wood Burning
- Fireplace: Yes
- Heating: Central, Electric, Wall Units / Window Unit
- Interior Features: Attic Fan, High Ceilings, Kitchen/Family Room Combo, L Dining, Living Room/Dining Room Combo, Solid Wood Cabinets
- Laundry Features: Common Area
- Living Area Source: Public Records
- Living Area Units: Square Feet
- Water View: Yes
Multi Family
Multi-Family Information
- Annual Net Income: $150,000.00
- Unit Count: 3
Property History for 1803 Gulf Boulevard
| Date | Event & Source | Price | Appreciation |
|---|---|---|---|
| Oct 14, 2024 | Sold MFRMLS #U8255142 | $2,400,000 | — |
| Sep 23, 2024 | Sold (Public Record) Public Record #1543141009 | $2,400,000 | — |
| Sep 3, 2024 | Pending MFRMLS #U8255142 | — | |
| Aug 27, 2024 | Listed (Active) MFRMLS #U8255142 | $3,200,000 | — |
| Date | Event & Source | Price |
|---|---|---|
| 10/14/2024 | Sold MFRMLS #U8255142 | $2,400,000 |
| 09/23/2024 | Sold (Public Record) Public Record #1543141009 | $2,400,000 |
| 09/03/2024 | Pending MFRMLS #U8255142 | — |
| 08/27/2024 | Listed (Active) MFRMLS #U8255142 | $3,200,000 |
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1803 Gulf Boulevard
Taxable ValueLand-Additions-Total-
Tax Record2024$8,096 ($675 / month)
Home Facts
Baths3Total Finished SqFt2,560 SqFtAbove Grade Finished SqFt2,560 SqFtStories1Lot Size7,475 SqFtStyleHotel / MotelYear Built1991Year Renovated1999CountyPINELLASAPN01-30-14-42030-064-0050
Schools near 1803 Gulf Boulevard
This home is within Pinellas.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 6 to 12 |
Rating | School | Distance |
|---|---|---|
Anona Elementary School PublicPK to 5 | ||
Seminole Middle School Public6 to 8 | ||
Largo High School Public9 to 12 | ||
Charles Britt Academy Public6 to 12 |
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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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 LPT REALTY, LLC, Ben Mitrano PA
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: 10/15/2024 11:33 PM
