701 1st St - Apartments FOR SALE


Indian Rocks Beach, FL 33785
$2,195,000 USD
724-272-9001
701 1st St, Indian Rocks Beach, FL for Sale
$2,195,000 USD
Apartments - FOR SALE
1/18
null | 5.48% Cap Rate

701 1st St
Indian Rocks Beach, FL 33785


OVERVIEW

Fully renovated 10-unit apartment community located just steps from the white sand beaches of Indian Rocks Beach, one of Tampa Bay’s most desirable coastal submarkets. Attractive unit mix consisting of eight spacious one-bedroom / one-bath units and two oversized two-bedroom / two-bath units. Thoughtfully designed outdoor common area featuring grilling stations, seating areas, and coastal-inspired seashell landscaping, creating a true beach-lifestyle experience for residents. Strong rental upside with nearby comparable properties achieving approximately $200-$300 monthly rental premiums, presenting investors with a clear path to continued NOI growth. Indian Rocks Beach continues to attract both tenants and investors due to its limited housing inventory, walkable beach-town atmosphere, and proximity to major employment hubs. The area is well-known for its laid-back coastal lifestyle, highly rated local dining scene, waterfront bars, entertainment venues, and boutique beach-town charm that differentiates it from more densely populated Gulf Coast markets. 10-minute walk to CVS, and 5-minute drive to Publix Super Market at Indian Rocks Shopping Center, with numerous grocery, retail and dining options. Residents and visitors are drawn to Indian Rocks Beach for its quiet beaches, strong sense of community, and convenient access to Clearwater, St. Petersburg and Tampa.

FOR SALE DETAILS

PRICE

$2,195,000 USD

PRICE/SF

$285 USD /SF

# OF UNITS

10

PRICE/UNIT

$219,500

CAP RATE

5.48%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Residences at Royal Palm

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1972

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.33 AC

LAND SF

14,375 SF

ZONING

RM-2

APN/PARCEL ID

12-30-14-18090-003-0010,12-30-14-18090-003-0030

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.