Under contract-accepting backup offers. Great investment opportunity! This rare and exceptional 4-plex property sits on three contiguous lots totalling 104x120 square feet, making it one of the few parcels over 1/4 of an acre for sale from St Pete Beach to Clearwater Beach. Prime location in the highly desirable coastal market of Madeira Beach and only a few blocks from the Gulf of Mexico and John’s Pass Village & Boardwalk. a popular tourist destination with over 100 merchants, including unique boutiques and waterfront restaurants, and full-service marina. The property consists of four tropical-themed one-bedroom, one-bath cottages thoughtfully arranged around a spacious courtyard. Amenities include a gated in-ground swimming pool and spa, two grilling stations, and 4 dedicated storage sheds. The cottages have undergone full remediation and are delivered as a blank canvas, providing the new owner the opportunity to implement custom interior finishes or redevelop as single families or townhomes. The pool and spa have been drained, professionally restored, and are continuously operating. The property had been successfully used as a rental since 2011, and it received a "not substantially damaged" determination from the City of Madeira Beach. This offering presents compelling value-add potential through continued rental operations or strategic repositioning and redevelopment to capitalize on the site’s underlying land value and prime coastal location. This unique property won’t last long!
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Buyer and Buyer’s agent are responsible for conducting their own due diligence with the City of Madeira Beach regarding zoning, permitted uses, and any development restrictions.