UPDATED:
05/24/2024 08:55 PM
Key Details
Property Type Commercial, Multi-Family
Sub Type Lodging and Hospitality: Economy/Limited Service,Multi-Family: Low Rise (1-3 Floors),Multi-Family: 5+ Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID 224044362
Originating Board Florida Gulf Coast
Year Built 1977
Annual Tax Amount $13,198
Tax Year 2023
Lot Size 0.441 Acres
Acres 0.4408
Property Description
Imagine waking up to 161 feet of frontage on a gulf-access canal, where your private dock stretches the entire length of the property, ready to accommodate your boating adventures. This is the ultimate haven for water enthusiasts, where the sea becomes your backyard. Out of the eight studio apartments, five have been meticulously renovated in the past year, showcasing new flooring, sleek kitchens, and modern bathrooms. The remaining three units retain their charm while offering contemporary amenities, creating a perfect mix for diverse tenant preferences.
This property offers flexible leasing options to maximize your returns. Four units are under stable annual leases, while the other four are thriving on Airbnb, generating substantial short-term rental income. Every unit comes fully furnished with high-quality decor, ensuring a turnkey investment experience. The expansive waterfront deck, furnished and ready for gatherings, is the heart of this retreat. Picture hosting lively parties, intimate get-togethers, or simply relaxing with a good book as dolphins play in the canal and the sun sets over the horizon.
Spanning 0.44 acres, this property provides abundant parking, eliminating any crowding concerns. The fenced yard is a pet paradise, offering a safe space for dogs to run and bask in the sun. With a complete re-roof scheduled for May 2024, you can rest assured that the property will remain in excellent condition. Each unit is equipped with new mini-split air conditioners for efficient cooling, ensuring comfort in every season. Additional amenities include secured bike parking, a maintenance shed, and a cleaning shed stocked with all necessary supplies. Two brand new sets of coin-operated laundry machines add to the income potential, making this property a savvy investment choice.
Envision the future value-add potential of this tropical gem. The large waterfront lawn is perfect for adding a pool, transforming the space into an even more enticing resort-like retreat. St. James City, located on Pine Island, exudes tropical charm and is renowned for its vibrant fishing and boating community. The area offers a relaxed lifestyle filled with recreational activities such as fishing, boating, and exploring nearby islands. Local seafood restaurants, quaint shops, and stunning natural beauty are all part of the daily experience here.
This property is more than an investment; it’s a lifestyle. Embrace the essence of a tropical resort where modern amenities meet the tranquil ambiance of a coastal retreat. Don’t miss out on this unique opportunity. Experience the magic of St. James City and make this tropical paradise your own.
Location
State FL
County Lee
Area Pi02 - Pine Island (South)
Zoning CPD
Direction From Pine Island Rd, South on Stringfellow, property will be on the left before Sanibel Blvd
Interior
Cooling Mini Split Units
Inclusions Building And Land, Equipment, Fixtures, Furniture
Exterior
Fence Fenced
Utilities Available Electricity Available, Trash Removal, Water Available
Waterfront Yes
Waterfront Description Canal Front,Salt Water,Seawall
Total Parking Spaces 20
Private Pool No
Building
Faces From Pine Island Rd, South on Stringfellow, property will be on the left before Sanibel Blvd
Sewer Septic Tank
New Construction No
Others
Tax ID 35-45-22-04-00015.0000
Security Features Fire Sprinkler System
Jacob Stoutenburgh Cape Coral, Fl.
Broker Associate | License ID: F3302143
Broker Associate License ID: F3302143