Largo, FL1500 Clearwater Largo Road N
Price$1,700,000
Est. Mortgage: $/month
MLS Number U8202296
- MultiFamily
- Mls Status Pending
- Property SubType Multi-Family
- Subdivision Highland Park
- Square Feet 3,724
Under contract-accepting backup offers. ***Back on market after owners converted 3 of the cottages dining rooms to bunk rooms to accommodate more guests and higher nightly rates. Updated pictures to follow*** This unique 5-unit Airbnb property just a mile from the gulf consists of a large main house & 4 individual cottages spread across 3 lots on 2 parcels. Each unit comes fully furnished and has been professionally designed to form a short-term rental paradise with estimated annual rental income of over $207k, NOI of $166.8K, and a 10.46% cap rate. The 3 bedroom 2 bath main house operates as the crown jewel of the property as it comes equipped with luxury finishes, LVP flooring, a true master with walk in closet, bunk room, side patio w/ dining, and screened back porch with darts & foosball. The fenced in backyard includes a firepit, cornhole boards, string lights, and recently installed sod. While the front yard was also recently sodded, it also had irrigation put in place with a new timer. In addition, the cottages each offer large private retreats for 2, or even a small family, but still boast all the amenities of home, including an assigned parking spot out front & Yale smart locks. 3 of the 4 cottages are nearly identical layouts, but all have in common large backyards with string lights, Adirondack chairs, & cornhole boards. There is also a large shell courtyard in the center of the property where the current owners have plans for a swimming pool to be installed, which each unit would have direct access to via their rear gate. In addition, the mulched picnic table area between the pink cottage, main house, and future pool site has been prepped for a children's playset for all units to have access to. So while these properties are turnkey, they are still packed with plenty of potential value add opportunities such as adding the swimming pool for increased nightly rates & occupancy or converting the cottage dining rooms to 2nd bedrooms. To help the incoming buyer with bringing this property to its fullest potential the owners have also agreed to credit them $25k to have the pool and playground installed (for strong offers). The main house boasts its own interior laundry closet with W&D, but also includes a W&D in the centrally located utility room for cottages guests and/or cleaners use. To round out this Florida paradise the property also features tropical landscaping including Orange & Palm trees. In addition, the sellers also own the 2 vacant lots directly adjacent north of this listing and would be willing to entertain offers on those as well, although are not included in this listing. This isn't the type of property or new turnkey operation that comes around often, especially with Clearwater, Bellaire, & Indian Rocks Beach only a few minutes away, yet still in Airbnb friendly Largo. Don't pass up on this opportunity to operate your own Airbnb village without fear of fines.
Listing Courtesy of EXP REALTY LLC
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