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    50 Cubbedge Road

    St. Augustine, FL 32080
    • $2,800,000
    • STATUS: Active
    • ON SITE: 47 days
    • MLS #: RX-10683366
    $2,800,000
    • 0
      BEDS
    • 0.6
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 6,284
      SQFT
    • $446
      $/SQFT
    Type:
    Commercial
    Built:
    1977
    County:

    School Ratings & Info

    Description

    This unparalleled and rarely available multifamily property sits directly on Crescent Beach within the heart of Saint Augustine, FL. This 7-unit building offers investors a unique value-add opportunity while providing reliable cash flows from the existing 100% occupancy. The property is properly zoned and perfectly suited for a short-term vacation rental or a repositioned annual lease model. Renovated units provide nearly a 75% increase in rents. Short-term vacation rentals have proven to generate almost 300% of current monthly revenues. No matter use, residents enjoy breathtaking vistas of the Atlantic with private beach access to renowned Crescent Beach. Some of the most stunning ocean views are the focal of this investment property. Current NOI is $121K. Bring All Offers.* 0.60 Acres of Oceanfront Property with Direct Beach Access; * Rare Multifamily / Short Term Zoning Allows Endless Possibilities; * 100% Occupancy provides over $120k in Current NOI; * Crescent Beach is One of the Fastest Growing Areas in Saint Augustine; * 6.0% Population Growth 2015 to 2020, with 7.7% Growth Expected in Next Five Years; * Flexible Ownership

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    www.jackcodengroup.com/homes/113146483
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    50 Cubbedge Road St. Augustine, FL 32080

    • Price: $2,800,000
    • Status: Active
    • MLS #: RX-10683366
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.6
    Acres
    6,284
    SQFT
    $446
    $/SQFT
    1977
    Built
    County:
    St. Johns
    Area:
    St. Augustine
    Property Description
    This unparalleled and rarely available multifamily property sits directly on Crescent Beach within the heart of Saint Augustine, FL. This 7-unit building offers investors a unique value-add opportunity while providing reliable cash flows from the existing 100% occupancy. The property is properly zoned and perfectly suited for a short-term vacation rental or a repositioned annual lease model. Renovated units provide nearly a 75% increase in rents. Short-term vacation rentals have proven to generate almost 300% of current monthly revenues. No matter use, residents enjoy breathtaking vistas of the Atlantic with private beach access to renowned Crescent Beach. Some of the most stunning ocean views are the focal of this investment property. Current NOI is $121K. Bring All Offers.* 0.60 Acres of Oceanfront Property with Direct Beach Access; * Rare Multifamily / Short Term Zoning Allows Endless Possibilities; * 100% Occupancy provides over $120k in Current NOI; * Crescent Beach is One of the Fastest Growing Areas in Saint Augustine; * 6.0% Population Growth 2015 to 2020, with 7.7% Growth Expected in Next Five Years; * Flexible Ownership
    Exterior Features

    Roof Built-UpComp Rolled Waterfront YN Yes

    Interior Features

    Bath Toilets 10.00 Cooling Central Individual Flooring Ceramic TileVinyl Floor Heating Central Individual Percent Air Conditioned 100.00

    Property Features

    Available Docs AerialAppraisalOccupational LicensePrevious Title Available Info AppraisalBooks & RecordsDeed Built Desc Resale Fire Protection Smoke AlarmSmoke Detector For Lease No For Sale Yes Lease Annual List Office Board Code Realtor Association Of The Palm Beaches (Rapb) Possession At Closing Sale Includes Building And LandEquipmentFixturesFurnitureSigns Tax Amount Real Estate Taxes 12057.94 Tax Year 2020 Tenant Pays Electric Terms Considered Assumable-QualifyCashConventionalCryptocurrency Type Of Building Resident. Multi-Fam. Use Hotel/ MotelIncomeMixed Utilities CableElectric

    Listing provided courtesy of Compass Florida Llc. Listing information © 2021 BeachesMLS
     
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    The Jack Coden Group | Keller Williams Eagle Realty
    700 NE 90th St
    Miami FL, 33138