The Alcove at Madeira beach represents a rare investment opportunity in one of the most desired real estate markets in the country. The property consists of 18 units across 9 individual duplex buildings spread over 2 acres with a pond, lush landscaping, and ability by right to add two more units via current zoning. The asset has been meticulously upgraded with stainless steel appliances, new roofs, bathrooms, and more. Offering a turn key, fully renovated, block property, with multiple clear strategies for continued value appreciation and rental growth. Unit mix consists of five (5) two bedroom, one bath units, twelve (12) two bedroom, two bath units, and one (1) three bedroom, two bath unit. *Unit walkthrough videos & tours available upon request * Offering memorandum, financials, rent rolls, and due diligence files are available upon request. Please email for best response.
MLS# | R4908050 |
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Listing Type | For Sale |
Style | Town House |
Sub-Type | For-sale |
Status | Active |
Year | 1948 |
Days On Site | 109 |
Listing Provided By | SEACREST ADVISORS LLC | Craig Brown |
SQ Feet | 12,275 |
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Story(s) | 1 |
Units | 18 |
Zoning | RM-10 |
Acreage | 2.05 |
Water Front | Yes |
State | FL |
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County | Pinellas |
City | SAINT PETERSBURG |
Zip Code | 33708 |
Area | 33708 St Pete | Madeira Bch | N Redington Bch | Shores |
Community Name | EDGEWATER ESTATES |
Listing VS Median (in EDGEWATER ESTATES) | |
Price: $3,950,000 low | high Med: $970,000 SqFt: 12,275 low | high Med: 2,643 $ / SqFt: $322 low | high Med: $366 On Site: 109 low | high Med: 198.000000 |