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117 127th Ave
Treasure Island, FL 33706
Multifamily Property For Sale
·
8 Units
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
PROPERTY FACTS
| Price Per Unit | $437,500 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.66% | Lot Size | 0.24 AC |
| No. Units | 8 | Building Size | 4,502 SF |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 1953 |
| Zoning | RM-15, Treasure Island - Hotel/Motel | ||
| Price Per Unit | $437,500 |
| Sale Type | Investment |
| Cap Rate | 6.66% |
| 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 | - | - |
PROPERTY TAXES
| Parcel Number | 15-31-15-17784-005-0080 | Improvements Assessment | $20,597 |
| Land Assessment | $679,403 | Total Assessment | $700,000 |
PROPERTY TAXES
Parcel Number
15-31-15-17784-005-0080
Land Assessment
$679,403
Improvements Assessment
$20,597
Total Assessment
$700,000
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