Active

$487,000

Features:
  • 4 Bedrooms
  • 3 Bathrooms
  • 1375 sq ft
Overview
  • ID: MFRTB8532067
  • Bedrooms: 4
  • Bathrooms: 3
  • Size: 1375 sq ft
Property Details
Remarks
Exceptional investment opportunity with immediate upside and located just minutes from the gulf beaches! This fully leased triplex is currently generating $4,425 each month with the opportunity to increase rental income immediately. A new roof was installed in 2023 on the 1/1 building. In addition to the existing income upside, the two 1/1 units provide an excellent value-add opportunity with cosmetic updates that can further increase rents and overall property value. The property features one updated 2/1 unit (rented below market at 1,500 but could rent for 1,600) and two 1/1 units (rented at 1,425 and 1,500), offering an ideal opportunity for both seasoned investors and buyers looking to house hack/ live in one unit while the rental income from the other two helps offset their mortgage and living expenses. The updated 2/1 unit features newer windows, appliances, and flooring providing a move-in-ready option. The 2/1 unit will be vacant upon closing.Whether you're looking to expand your investment portfolio or purchase your first income-producing property, this triplex offers immediate cash flow, multiple avenues for increased returns, or the opportunity to significantly reduce your housing costs by living on-site.
Financial Considerations
Price:
$487,000
HOA Fee:
N/A
Tax Amount:
$4568.26
Price per SqFt:
$354.18
Tax Legal Description:
BELMONT SUB 1ST ADD BLK H, LOTS 9 AND 10
Exterior Features
Lot Size:
6961
Lot Features:
N/A
Waterfront:
No
Parking Spaces:
N/A
Parking:
N/A
Roof:
Shingle
Pool:
No
Pool Features:
N/A
Interior Features
Bedrooms:
4
Bathrooms:
3
Heating:
Ductless
Cooling:
Wall/Window Unit(s)
Appliances:
Dishwasher, Refrigerator
Furnished:
Yes
Floor:
Luxury Vinyl
Levels:
One
Additional Features
Property Sub Type:
Triplex
Style:
N/A
Year Built:
1948
Construction Type:
Cement Siding
Garage Spaces:
No
Covered Spaces:
N/A
Direction Faces:
N/A
Pets Allowed:
No
Special Condition:
None
Additional Features:
Fence, Private Entrance, Private Yard, Rain Gutters
Additional Features 2:
N/A
Map
  • Address
    725 NEW YORK ST
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