North Redington Beach Portfolio FOR SALE


North Redington Beach, FL - Redington Beach
$6,650,000 USD
724-272-9001
, North Redington Beach, FL for Sale
$6,650,000 USD
FOR SALE
1/11
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North Redington Beach Portfolio
North Redington Beach, FL
Redington Beach


HIGHLIGHTS

  • Majority of two-bedroom units feature private balconies or patios
  • Rental comps show strong upside: two-bedroom units are $800–$925 below market; one-bedroom units are $600–$795 below market
  • Offering includes two additional parcels next to the hard corner of Gulf Blvd, offering prime future development potential
  • 11 units currently occupied, generating $108,720 in-place income; 14 hurricane-impacted units are remediated and ready for renovations
  • Roofs on two of three buildings replaced in 2019; electrical and HVAC systems have been incrementally updated
  • Centrally positioned between Clearwater Beach and St. Pete Beach, the property benefits from a quiet, highly desirable coastal setting

OVERVIEW

Portfolio sale includes an existing 25-unit apartment complex with two adjacent parcels of land situated in the heart of North Redington Beach, immediately adjacent to Gulf Boulevard and public beach access to world-renowned, top-rated gulf beaches. $5,250,000 for the apartment units ($210,000 per unit) and $1,400,000 for both parcels of land with future development potential. Property includes 25 units: 17 two-bed/two-bath, one two-bed/one-bath, and seven one-bed/one-bath. North Redington Beach surrounding area consists of low-rise condos, boutique hotels, and waterfront homes, offering rare beachfront living without high-density development. Numerous entertainment and dining options within walking distance; five minutes to CVS Pharmacy and eight minutes to Publix Supermarket. Approximately 30 minutes to Clearwater, St. Petersburg, and 40 minutes from Tampa International Airport and Tampa’s Westshore Business District, with more than 4,000 businesses and 100,000 employees.

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 Policy.