Under contract-accepting backup offers. Introducing a rare opportunity for an owner-occupant or individual investor in desirable South Pasadena. This solid concrete-block 4-plex w/2 car garqage is ideally positioned directly across from Boca Ciega Bay, with Unit #1 offering water views and the unique flexibility to be occupied by a new… Read More owner or held open for additional rental income.The property has been recently renovated and fully remediated following Hurricane Helene, with updates completed to current building standards and code, providing peace of mind and long-term durability. Three of the four units are currently occupied, creating immediate cash flow, while the vacant waterview unit allows for personal use, premium rental positioning, or a blended live-in investment strategy.Each residence features a spacious 1-bedroom, 1-bath layout with durable vinyl plank flooring throughout and an open living and kitchen design that feels light, functional, and easy to maintain. All four units are equipped with new air-conditioning systems and updated electrical, further reducing future capital expenses for the next owner.From an investment standpoint, the property delivers a strong, stable cap rate with meaningful upside potential, particularly through improved rent positioning and utilization of the waterview unit. Utilities are efficiently structured with four separate electric meters and a shared water meter.The larger waterview unit (#1) benefits from private parking and a private rear entrance with alley access, offering added privacy and convenience and making it especially appealing as an owner-occupied residence if desired. The property also includes a large attached 2-car garage, accessible from both the courtyard and the rear alley.The 30-day minimum rental period provides notable flexibility and creates a clear opportunity to reposition the property toward seasonal or mid-term rentals, which may significantly increase rental income and materially improve the overall cap rate compared to traditional long-term leasing. Buyer and buyer’s agent to independently verify all material facts, including but not limited to minimum rental periods, zoning, future use, income potential, square footage, permitting, and compliance with all local, city, and county regulations.
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Courtesy of GULFSIDE REALTY SALES 727-826-0001
Listing Snapshot
Days Online
9
Last Updated
Property Type
Quadruplex
Beds
4
Square Ft.
2,009
Lot Size
0.25 Acres
Year Built
1968
MLS Number
TB8465363
Additional Details
Property Access
Road Responsibility: Public Maintained Road, Road Surface: Paved
Appliances & Equipment
Convection Oven, Dishwasher, Refrigerator
Building
Built in 1968, Living area: 2009, Living area units: Square Feet, Construction Materials: Block
Cooling
Central Air
Exterior Features
Patio/Porch Features: Covered, Front Porch, Courtyard, Rain Gutters, Sidewalk, Storage
Floors
Luxury Vinyl
Foundation
Slab
Garage
2 spaces
Heating
Heat Pump
Income
Gross Income: $64,800
Interior Features
Ceiling Fans(s)
Laundry
Common Area, Laundry Room
Lot
0.24 acres, FloodZone
Parking
Boat, Golf Cart Parking, Guest, Open
Pets Policy
Allowed: Yes
Property
Completed, Other structures: Shed(s), Storage
Roof
Shingle
Sewer
Public Sewer
Taxes
Additional parcels description:, Parcel Number: 30-31-16-00504-000-0010, Public Survey Range: 16, Public Survey Section: 30, Annual Amount: $8,016, Tax Block: 000, Tax Book Number: 26-86, Legal Description: ALLEN'S REPLAT, E. A. LOT 1, Lot: 010, Year: 2025, Zoning: 0820 QUAD
Utilities
BB/HS Internet Available, Electricity Connected, Water Source: Public
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