$625,000
$649,900
3.8%For more information regarding the value of a property, please contact us for a free consultation.
1,300 SqFt
SOLD DATE : 02/20/2020
Key Details
Sold Price $625,000
Property Type Multi-Family
Sub Type Duplex
Listing Status Sold
Purchase Type For Sale
Square Footage 1,300 sqft
Price per Sqft $480
Subdivision Clark Spring Lake Estates
MLS Listing ID A4450788
Sold Date 02/20/20
Construction Status Inspections
HOA Y/N No
Year Built 1979
Annual Tax Amount $7,306
Lot Size 7,840 Sqft
Acres 0.18
Lot Dimensions 75x104
Property Description
Cash Flow Opportunity. Though zoned for vacation rentals, the owner had been renting as a long term rental. This duplex is now vacant and is ideal for a vacation rental program. Property has been priced to cash flow. 70% Occupancy rate should generate net income of nearly $60,000 per year. Upside to increase rents and occupancy for even better returns. Your vacation renters will love this excellent mid-island walkable location. Close to the beach - only a stroll away. Convenient to restaurants, marina, and shopping. Trolley stop nearby. The property also overlooks Spring Lake with a private wood dock. Private and serene setting. Unit A is 1-Bedroom 1-Bath unit which should rent for $1000/week during season. Unit B, 2-Bedroom 1-Bath unit was just remodeled and should rent for $1500/week during season. Each unit has a spacious 2-car garage. Washer and dryer hook-ups for each unit. Elevated living level complies with FEMA. Property is ready to rent, though would also benefit from your personal touch. Long term leases have expired and tenants have vacated, so great opportunity for a new owner to take advantage of the upcoming vacation rental season. Rental Income and Net Income Projections available.
Location
State FL
County Manatee
Community Clark Spring Lake Estates
Zoning R2
Interior
Interior Features Ceiling Fans(s), Kitchen/Family Room Combo, Solid Surface Counters, Thermostat, Window Treatments
Heating Central, Electric
Cooling Central Air, Humidity Control
Flooring Carpet, Hardwood
Furnishings Unfurnished
Fireplace false
Appliance Dishwasher, Disposal, Electric Water Heater, Microwave, Refrigerator
Laundry In Garage
Exterior
Exterior Feature Balcony, Lighting, Sidewalk
Garage Driveway, Garage Door Opener, Off Street, Oversized
Garage Spaces 4.0
Utilities Available Cable Connected, Electricity Connected, Phone Available, Public, Sewer Connected
Waterfront Description Lake
View Y/N 1
Water Access 1
Water Access Desc Lake
View Trees/Woods, Water
Roof Type Shingle
Porch Deck, Rear Porch
Attached Garage true
Garage true
Private Pool No
Building
Lot Description City Limits, Level, Near Marina, Near Public Transit, Sidewalk, Paved
Entry Level Two
Lot Size Range Up to 10,889 Sq. Ft.
Sewer Public Sewer
Water Public
Structure Type Block,Wood Frame
New Construction false
Construction Status Inspections
Schools
Elementary Schools Anna Maria Elementary
Middle Schools Martha B. King Middle
High Schools Manatee High
Others
Pets Allowed Yes
Senior Community No
Pet Size Extra Large (101+ Lbs.)
Ownership Fee Simple
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition None
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