Price Improvement! This distinctive triplex, located just a few blocks from the breathtaking St. Pete Beach, offers a unique opportunity for prospective buyers. Built above the historical flood lines, this property did not flood delivering peace of mind. Its versatile layout accommodates various uses, functioning either as a turnkey three-unit monthly rental or as a residence where the owner can occupy the main house, which sleeps 6 people, while leasing the adjacent duplex. 2025 gross income was $110,000 delivering a CAP rate of 8%.
The surrounding neighborhood promotes a vibrant community atmosphere, with local cafes, shops, and parks all within easy walking distance. Characterized by charming architecture and an inviting exterior, the triplex exudes warmth and character. The thoughtfully designed interior features open-concept living areas that flow seamlessly, while expansive windows allow natural light to fill the rooms, creating a bright and airy ambiance.
Recent enhancements to the detached unit include new sunroom windows, comprehensive interior painting, and modern lighting throughout the property. The main house bathroom has undergone a renovation, showcasing new tile, toilets, and fixtures. Additional updates include new ceiling fans and light fixtures that contribute to a contemporary aesthetic. Unit 1 boasts improved lighting, freshly painted walls, and updated bathroom finishes, complemented by the highly coveted terrazzo flooring. Unit 2 has been entirely renovated, featuring fresh paint, updated tile, and new completely bathroom.
The exterior and grounds have been thoroughly transformed, with completely updated landscaping that includes new plants, decorative rocks, and seashell accents. A brand-new fence encloses the property, while sealed cement landscaping provides a clean and durable finish. Enhanced sprinkler and irrigation systems have been installed, accompanied by new landscape lighting with programmable timers. The exterior has been freshly painted, and the front posts have been updated. Additionally, new composite decks have been constructed at the front and back of Studios 1 and 2, complete with a modern grilling setup.
An ongoing semi-annual pest control service is in place and can be transferred to the new owner. The electrical panels have been replaced and upgraded within the last 24 months, and the main plumbing line has been replaced with new PVC, with all plumbing systems updated. New hot water tanks and air conditioning units have also been installed for Studios 1 and 2. The property includes all furnishings and is equipped with keyless smart locks, as well as a security system.
