Log In/Sign Up
Your email has been sent.
117 127th Ave 8 Unit Apartment Building $3,250,000 ($406,250/Unit) 7.18% Cap Rate Treasure Island, FL 33706
Investment Highlights
- Recently renovated boutique STR asset comprised of six one-bedroom/one-bath units and two two-bedroom/one-bath units, all fully furnished
- All appliances and custom furnishings are included with the sale
- Treasure Island remains a highly visited Gulf Coast beach town known for broad white sand beaches and easy access to sunset views and water activities
- Ownership has spent over $750,000 in capital improvements since acquisition
- In-season nightly rental rates average $170+ for one-bedroom units and $210+ for two-bedroom units during the January–May peak season
- The unit mix offers flexibility for couples, groups, and families, supporting a broad guest demographic
Executive Summary
An 8-unit, fully furnished turnkey short-term rental property. Situated at entrance to Crabby’s on the Pass redevelopment site, with prominent exposure to future mixed-use waterfront project. Just one block to Gulf beaches and a five-minute walk to John’s Pass Village & Boardwalk – a major retail, dining, and entertainment destination. Upgrades include new roofing on both structures, electric, plumbing, flooring, kitchens, bathrooms, new appliances in all units and parking lot. Clear revenue upside through ADR optimization in high-season months while maintaining competitive, demand-driven pricing during the June-December off-season. Strategically positioned approximately 6 miles from Downtown St. Petersburg, 27 miles from Tampa International Airport, and within a 10-minute drive of both Clearwater Beach and St. Pete Beach
Financial Summary (Pro Forma - 2027) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2027) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $3,250,000 | Apartment Style | Low-Rise |
| Price Per Unit | $406,250 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.24 AC |
| Cap Rate | 7.18% | Building Size | 4,502 SF |
| No. Units | 8 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1953 |
| Property Subtype | Apartment | ||
| Zoning | RM-15, Treasure Island - Hotel/Motel | ||
| Price | $3,250,000 |
| Price Per Unit | $406,250 |
| Sale Type | Investment |
| Cap Rate | 7.18% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.24 AC |
| Building Size | 4,502 SF |
| No. Stories | 1 |
| Year Built | 1953 |
| Zoning | RM-15, Treasure Island - Hotel/Motel |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
| 2+1 | 2 | - | - |
1 1
Property Taxes
| Parcel Number | 15-31-15-17784-005-0080 | Improvements Assessment | $20,597 (2025) |
| Land Assessment | $679,403 (2025) | Total Assessment | $700,000 (2025) |
Property Taxes
Parcel Number
15-31-15-17784-005-0080
Land Assessment
$679,403 (2025)
Improvements Assessment
$20,597 (2025)
Total Assessment
$700,000 (2025)
1 of 10
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
117 127th Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.