117 127th Ave - Apartments FOR SALE


Treasure Island, FL 33706
$3,250,000 USD
724-272-9001
117 127th Ave, Treasure Island, FL for Sale
$3,250,000 USD
Apartments - FOR SALE
1/9
null | 7.18% Cap Rate

117 127th Ave
Treasure Island, FL 33706


HIGHLIGHTS

  • Recently renovated boutique STR asset comprised of six one-bedroom/one-bath units and two two-bedroom/one-bath units, all fully furnished
  • Ownership has spent over $750,000 in capital improvements since acquisition
  • All appliances and custom furnishings are included with the sale
  • In-season nightly rental rates average $170+ for one-bedroom units and $210+ for two-bedroom units during the January–May peak season
  • Treasure Island remains a highly visited Gulf Coast beach town known for broad white sand beaches and easy access to sunset views and water activities
  • The unit mix offers flexibility for couples, groups, and families, supporting a broad guest demographic

OVERVIEW

An 8-unit, fully furnished turnkey short-term rental property. Situated at entrance to Crabby’s on the Pass redevelopment site, with prominent exposure to future mixed-use waterfront project. Just one block to Gulf beaches and a five-minute walk to John’s Pass Village & Boardwalk – a major retail, dining, and entertainment destination. Upgrades include new roofing on both structures, electric, plumbing, flooring, kitchens, bathrooms, new appliances in all units and parking lot. Clear revenue upside through ADR optimization in high-season months while maintaining competitive, demand-driven pricing during the June-December off-season. Strategically positioned approximately 6 miles from Downtown St. Petersburg, 27 miles from Tampa International Airport, and within a 10-minute drive of both Clearwater Beach and St. Pete Beach

FOR SALE DETAILS

PRICE

$3,250,000 USD

PRICE/SF

$722 USD /SF

# OF UNITS

8

PRICE/UNIT

$406,250

CAP RATE

7.18%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1953

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.24 AC

LAND SF

10,454 SF

ZONING

RM-15, Treasure Island

APN/PARCEL ID

15-31-15-17784-005-0080

ASK ABOUT THIS PROPERTY

Zachary BrownMarcus & MillichapMore Info
724-272-9001

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Zachary BrownMarcus & MillichapMore Info
724-272-9001

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.