1809 Gulf Blvd Immeuble residentiel 4 lots 2 119 985 € (529 996 €/Lot) Taux de capitalisation 11,13 % Indian Rocks Beach, FL 33785

This property has advantageous commercial zoning, which allows unrestricted nightly rentals.

Buyers beware of the new imposed residential short-term ordinances in Indian Rocks Beach (IRB) before buying. This rare turnkey opportunity to acquire four fee simple condominiums in one freestanding building across the street from the sugary sands of Indian Rocks Beach. Since all units are under the same ownership, no monthly condo/HOA fees or assessments are required. Del Mar Condos units all share a similar two-bedroom/ two-bathroom floor plan, 878 square feet each, with an open kitchen concept, living room, dining area, in-unit washer and dryer, and front covered balconies to enjoy sunset beach views. Enjoy Gulf sunset views from the third-floor balconies.

The condo units are operated as a successful STR business with no minimum rental restrictions, which results in endless revenue potential for the next owner/operator. All units must be sold together with all furnishings, bedding, and indoor and outdoor furniture to operate STR. Each unit has its own hard-to-find two-car tandem garages with front and rear access roll-up doors. All units have been renovated to include granite countertops, solid real wood cabinets, newer appliances, hot water heaters, flooring, and interior Paint. Del Mar condominiums sit strategically across the street from two beach access points and within walking distance to many venues and dining on IRB. After a long day on the beach, you can enjoy your time in the tropical oasis backyard gas-heated pool and spa shared only between four units.

Recent Pinellas County Short Term Rental (STR) ordinance changes have impacted many inland and coastal vacation rentals. However, this is not the case for 1809 Gulf Boulevard, whose current zoning includes Multifamily and P1 (professional office ), which allows STR and commercial uses strategically advantageous to future owners.

This property remained unphased during two 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 the first floor. Due to an 11-foot elevation, Flood insurance is a fraction of the cost compared to other properties in the area. Hazard insurance is grossly discounted due to all units having newer impact-resistant windows, double pane sliding glass doors on all four balconies, and a brand-new shingle roof installed in 9/2022, over $250K Capital investment improvements from ownership (list available). The property recently completed a clear Phase 1 condo study; no issues or assessments were required.

Since this property operates as a STR, please schedule an appointment and do not walk the property or speak to guests, as this may disqualify you as a buyer. All information in this listing is for informational purposes, and buyer(s)/buyer’s agents are responsible for independently verifying any information. Proforma for long-term and short-term rental available with an executed NDA and confidentiality agreement required from all prospective buyers (s) & agents.

Inquire today for more information. A 1031 Exchange is eligible and 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 in the land and today’s construction cost to rebuild and furnish.