1809 Gulf Blvd Immeuble residentiel 4 lots 2 246 611 € (561 653 €/Lot) Taux de capitalisation 10,68 % Indian Rocks Beach, FL 33785

1031 Exchange eligible, owner operator, qualifies for various loan options please inquire, with current and future financials supporting a 10% + CAP RATE return this opportunity will not last long! Offered below replacement cost when factoring Land and today’s construction cost to rebuild and furnish. This rare turn key opportunity to acquire Four (4) fee simple condominiums in one free standing building across the street from the sugary sands of Indian Rocks Beach! Since all units are under the same ownership there are no monthly condo/HOA fees, nor assessments required! Del Mar Condos features four induvial units(B1,B2,C1,C2) which all share a similar 2 bedroom/ 2 bathroom floor plan about 878sqft each with an open kitchen concept, living room, dining area, in unit washer and dryer, and front covered balconies to enjoy sunset beach views. The condo units are operated as a successful short term rental business with no minimum rental restrictions which results in endless revenue growth potential for the next owner/STR operator. All units will be SOLD together and include meticulous furnishings with carefully selected handpicked designer finishes from decorative pillows, coordinating linens, all bedding with sofa bed to accommodate 6+ guest per unit. All units must be SOLD Together with all furnishings, bedding, patio set/ outdoor furniture, and essential items to operate STR/Bed and Breakfast. In addition, each unit has its own, VERY HARD TO FIND on the beaches, 2 car tandem garages with front and rear access roll up doors to accommodate for storage, guest parking, plus the large ample paver parking driveway. All units have been renovated in the past to include granite countertops, solid real wood cabinets, newer appliances, newer hot water heaters, flooring, and interior Paint. DEL MAR CONDOMINIUMS sit strategically directly across street from TWO (2) beach access points and walking distance to many venues and dinning on IRB. After a long day on the beach, you can enjoy your time in the tropical oasis backyard gas heated pool and spa that is shared only between 4 residences. Recent changes to Pinellas County Short Term Rental (STR) Ordnance have impacted many inland and coastal vacation rentals. However, this is not the case for 1809 Gulf Blvd which current zoning includes Multifamily and P1 (professional office zoning district) that allows bed and breakfast and other commercial uses strategically advantageous to future owners in contrast to residential zoning. Additionally, this property remained unphased during back-to-back hurricanes in 2024 showcasing its resilience to Florida’s inclement weather. Furthermore, due to the elevated construction style of this building flooding was limited to tandem garages on first floor. Due to 11ft elevation Flood insurance is a fraction of the cost compared to other beach front properties in the area. In addition to low flood insurance premiums, Hazard insurance is grossly discounted due to all units having newer impact resistant windows and double pane sliding glass doors on all 4 balconies, and a Brand-new dimensional shingle roof installed in 9/2022. Over $250K Capital investment improvements from ownership. Most recently- 2024-2025 improvements and renovations include: four (4) brand new central HVAC systems in each condo unit plus ductwork. 8 Garage door rollers, sensors, etc for tandem garages, Exterior pressure wash, Exterior fresh paint, All pavers in the front and back pool area have been sanded, sealed, New pool pump with gas or electric Heating options, New Roof (2022) fascia, and soffit, Garage Drywall, new landscaping throughout front and rear of property, and all rotted wood from balconies and exteriors has been replaced and improved prior to painting. Property recently completed a clear Phase 1 condo study (8/2024) with no issues or assessments required. Since this property is operating as a STR please schedule an appointment and do not walk the property or speak to guest as this may disqualify you as a buyer. Please inquire and act now to secure this rare investment opportunity on Indian rocks beach. All information in this listing is for informational purposes and buyer(s)/buyer’s agents are responsible for independently verifying any and all information. Listing agent has proforma for long term and Short term rental operation, zoning info from city of Indian Rocks Beach, and further details. NDA and Confidentially agreement required from prospective buyer(s) & agent(s) to gain access to offering materials. CALL BEN MITRANO PA – 727-504-3490