There is SO MUCH to say about this fabulous quadraplex! First of all, it is a UNICORN as a legal nightly rental that is grandfathered in! That's right...a LEGAL NIGHTLY RENTAL ON ST PETE BEACH! Secondly it is next door to the new Saint Hotel & 82 Degrees Restaurant which recently opened and now has hit the market FOR SALE at DOUBLE-DIGIT MILLIONS!
Talk about Location, Location, Location!
The Waterside is located on the #1 rated Beach in the US, St. Pete Beach, and is within easy walking distance to that white, pristine sand. Indeed, from the Upper Deck unit 2, you can even see the Gulf!
All 4 units have been fully remodeled from top to bottom; AND are earning handsome rental income.
Two – 2 Bedroom units
One large 1 Bedroom unit
One Private Studio Bungalow
At the Waterside, the Owner has created a small compound to provide a comfortable and quiet oasis for vacationers that is within easy walking distance to restaurants, bars, entertainment and 'Downtown St Pete Beach.'
Between 2016 and now, this property has been acquired; remodeled; and yes, lovingly groomed in anticipation of its next adventure with a new owner. There is nothing left that needs done. During that same timeframe, the entire corridor and area has also undergone a gentrification that is still in process.
Recently the finest jewel yet, The Saint Hotel and 82 Degrees Restaurant, opened - NEXTDOOR! And as previously mentioned, that property is now on the market for double-digit millions!
Most recently, Units 1, 3 & 4 were remodeled between 11/20 and 3/21. Unit #2 was fully remodeled in 2016 with some later periodic updates as well.
During 2020, the water main service from the street to the main house was replaced, as well as all connection points and shut offs. PLUS, and it is a BIG PLUS, both buildings have all new electrical inside and out, AND a new roof! In 2016. And lest we forget the fabulous exterior, the attention to detail carries onto the outdoor spaces. From new decks to solar lighting, new shell for the yard, beachy decor and new fencing, it all comes together to create an inviting outdoor space for guests to enjoy. It is as pleasing to the eye as it is a useful and fun outdoor entertainment space!
There are too many features and upgrades to catalogue here. Know this: From SOLID concrete block construction to the SOLID Seller who has conscientiously renovated and maintained this 'labor of love, ' (pulling permits as required - fyi), this property is as SOLID as you will find. Low maintenance makes for a healthy ROI.
Financials provided.