12321 Gulf Boulevard
Treasure Island,
FL
33706
Property Details
| List Price: |
$3,295,000 |
| Beds: |
10 |
| Baths: |
-- |
| Status: |
Active |
SqFt: |
4846 Square Feet |
| Agency: |
ENGEL & VOLKERS MADEIRA BEACH |
| Agency Phone: |
(727) 394-7365 |
Description/Comments
| Lot Size: |
0 acre(s) |
| Property Type: |
Residential Multi Family-Multi Family |
| Year Built: |
1948 |
| Notes: |
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. |
| MlsNumber: |
-- |
| ListingId: |
TB8322059 |
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| Listing Provided By: |
ENGEL & VOLKERS MADEIRA BEACH, original listing |
| Phone: |
(727) 459-5543 |
| Office Phone: |
(727) 394-7365 |
| Agent Name: |
Evan Pedone |
| Disclaimer: |
Copyright © 2025 Pinellas Suncoast Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. |
