The Bungalows welcomes investors with an impressive 11 CAP RATE! This 10 unit plus office licensed hotel offers high income potential in its current use and intriguing value for future use of its four buildings and three parcels. A newly resurfaced pool and new pool equipment await guests. Two of the four buildings lay adjacent to the pool, offering multiple rentals just steps to a relaxing dip or lounging on the pool deck. The Bungalows offers studios, one and two bedroom units to appeal to all types of vacationers. Every unit features a kitchenette making them feel like a home away from home. The charm and pride of ownership also extends to the multiple outdoor spaces frequently raved about in reviews. Relax under shade, unwind in an Adirondack chair or play corn hole in the Florida sun - there are many options for outdoor enjoyment here. Each unit has direct access to outdoor areas made to feel like a private oasis for guests. This boutique hotel offers new roofs, HVAC and water heaters presenting the buyer with a low maintenance, tropical sanctuary. New floors and cabinets are just another highlight. Prime Gulf Blvd location with direct access to a crosswalk makes staying here a breeze for guests. The property is a two minute walk to Pinellas County's #1 tourist destination John's Pass Village & Boardwalk featuring shopping, restaurants, jet ski rentals, sunset cruises, fishing charters and live music. Treasure Island beach is located steps away and beacons guests to relax and stay a while. A boat ramp is located steps from this property making kayaking a breeze. Kayak, jet ski and floating tiki hut rentals routinely make arrangements to pick up guests here. This property is currently in the process of being renovated after receiving water intrusion from Hurricane Helene. Permits are already in place, giving the new owner the opportunity to be one of the first hotels reopening on the beaches and to take advantage of the busy winter and spring seasons. Additional 8 unit hotel for sale next-door, schedule your tour today.
Property Details
Property Features
Property Information:
Year Built: 1948
Living Area: 4,846 SqFt
Listing Office:
Office Name: ENGEL & VOLKERS MADEIRA BEACH
Office Phone: (727) 394-7365
Listing Agent: Evan Pedone
Interior Features
Interior Information:
Interior: Kitchen/Family Room Combo, Solid Wood Cabinets, Stone Counters, Thermostat
Bedroom and Bathroom Information:
Total Bedroom Count: 10
Exterior Features
Exterior Information:
Private Pool: Yes
Exterior: Courtyard, Fence, Sidewalk, Storage
Lot Features
Lot Information:
Lot Size: 0.40 Acres
Utilities
Utilities Information:
Heating: Central, Electric
Cooling: Central Air
Other
Directions Information:
Directions: From Central Ave turn right onto Gulf Blvd. Turn right onto 124 Ave W. Parking spaces on right side of street.
Price Information
Listing Price Info
Price Summary:
List Price: $3,295,000
Price Per SqFt: $680/SqFt
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Housing Market Comparison
See how this home compares to others in Treasure Island, FL.
This property is $2.5M more than the Median Sold Price and $115/SqFt more than other homes in Treasure Island, FL.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: MFRMLS
MLS Number: #TB8322059
Listing Office:
Office Name: ENGEL & VOLKERS MADEIRA BEACH
Office Phone: (727) 394-7365
Listing Agent: Evan Pedone
Listings courtesy of Stellar MLS as distributed by MLS GRID.
All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Copyright 2024 My Florida Regional Multiple Listing Service DBA Stellar MLS. The real estate listing data marked with this icon comes from the IDX program of the Stellar MLS system. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided exclusively for consumers’ personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Properties displayed may be listed or sold by various participants in the MLS. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 11/21/2024, 12:19:59 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Listing History
DATE
EVENT
PRICE
Dec 27, 2016
Dec 27, 2016Home Sold
$1,525,000
Dec 27, 2016
Dec 27, 2016Home Sold
$1,525,000
Sep 16, 2014
Sep 16, 2014Home Sold
$925,000
Sep 16, 2014
Sep 16, 2014Home Sold
$925,000
Nov 20, 2002
Nov 20, 2002Home Sold
$585,000
Jun 08, 2001
Jun 08, 2001Home Sold
$699,000
Jun 08, 2001
Jun 08, 2001Home Sold
$699,000
Apr 01, 1999
Apr 01, 1999Home Sold
$364,000
History based on county public records data.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
5
/10
Azalea Elementary
1680 74th St N
Distance between this listing and this school2.43 miles
Public District Grades PK-5
9
/10
Gulf Beaches Elementary Magnet School
8600 Boca Ciega Dr
Distance between this listing and this school2.48 miles
Public Magnet Grades KG-5
9
/10
Pasadena Fundamental Elementary School
95 72nd St N
Distance between this listing and this school2.62 miles
Public Magnet Grades KG-5
Nearby Schools
8
/10
Madeira Beach Fundamental K-8
591 Tom Stuart Cswy
Distance between this listing and this school2.16 miles
Public Magnet Grades KG-8
3
/10
Azalea Middle School
7855 22nd Ave N
Distance between this listing and this school2.26 miles
Public Magnet Grades 6-8
7
/10
Plato Academy of St.Petersburg
3901 Park St N
Distance between this listing and this school2.53 miles
Public Charter Grades KG-8
Nearby Schools
10
/10
St. Petersburg Collegiate High School
6605 5th Ave N
Distance between this listing and this school3.07 miles
Public Charter Grades 10-12
3
/10
Dixie Hollins High School
4940 62nd St N
Distance between this listing and this school4.32 miles
Public Magnet Grades 9-12
3
/10
Boca Ciega High School
924 58th St S
Distance between this listing and this school4.37 miles
The neighbors living near this home have an average income of $29,043. The majority of Treasure Island, FL residents have income less than $35k annually. The most common type of family is single, no kids. Residents of this area typically have post secondary degree education.
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This home is located at 12321 Gulf Blvd in Treasure Island, FL and zip code 33706 in the Treasure Island Downtown neighborhood. This 4,846 square foot home, which was built in 1948, sits on a 0.40 acre lot. Features: 10 bedrooms, 10 bathrooms. It has been listed on Rocket Homes since November 18, 2024 and is currently priced at $3,295,000.
Treasure Island, FL housing market in October 2024 saw over 0 listings sold above listed price, more than 1 sold at listed price and over 11 sold below. In October 2024 in Treasure Island, FL there were 5.1% more homes for sale than in September 2024. The median list price of listings available in October 2024 was $771,250, while the average time on the real estate market was 47 days.
From Rocket Homes Real Estate and based on county public records data.
Listings courtesy of Stellar MLS as distributed by MLS GRID.
Copyright 2024 My Florida Regional Multiple Listing Service DBA Stellar MLS. The real estate listing data marked with this icon comes from the IDX program of the Stellar MLS system. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided exclusively for consumers’ personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Properties displayed may be listed or sold by various participants in the MLS.
Symphony or Opera
Symphony or Opera
Minor League Baseball Games
Hiking/backpacking
Chico's
New York & Company
Nordstrom Rack
Boston Market
Chick-fil-A
Chipotle
Volvo
Kia
Mazda
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Rock
Classical