$370,000
$490,000
24.5%For more information regarding the value of a property, please contact us for a free consultation.
3 Beds
4 Baths
2,396 SqFt
SOLD DATE : 10/04/2024
Key Details
Sold Price $370,000
Property Type Townhouse
Sub Type Attached
Listing Status Sold
Purchase Type For Sale
Square Footage 2,396 sqft
Price per Sqft $154
Subdivision Mexico Beach Unit 1
MLS Listing ID 760632
Sold Date 10/04/24
Style Fourplex
Bedrooms 3
Full Baths 3
Half Baths 1
Construction Status Under Construction
HOA Y/N No
Year Built 2003
Annual Tax Amount $5,059
Tax Year 2023
Lot Size 1,306 Sqft
Acres 0.03
Property Description
This remarkable property, located just a short stroll away from beautiful beaches, presents a unique opportunity for the discerning buyer. Previously affected by Hurricane Michael, this home is now ready to be restored to its former glory.Key Features:Reconstruction Ready: All necessary demolition work has been completed, offering a blank canvas for your vision. Electrical systems, windows, ductwork, and much of the plumbing are already in place.Versatile Potential: Whether you aim to create a dream home or a lucrative investment property, this space is primed for transformation. Neighboring units are operating as short-term rentals, generating impressive annual revenues of approximately $65k.Substantial Equity: With an After Repair Value (ARV) of $850k to $900k and a local licensed contractor's estimated rehab cost of $250k, the next owner stands to gain significant equity once renovations are complete.Official Estimate: Detailed rehabilitation quotes are available in the listing documents, providing transparency and aiding in your renovation planning.
Location
State FL
County Bay
Community Short Term Rental Allowed
Area 05 - Bay County - East
Interior
Furnishings Unfurnished
Fireplace No
Exterior
Exterior Feature Balcony
Parking Features Carport, Driveway
Community Features Short Term Rental Allowed
Utilities Available Cable Available, Electricity Connected, Sewer Connected, Water Connected
View Y/N Yes
View Gulf
Roof Type Metal
Porch Balcony
Building
Lot Description Landscaped
Story 4
Foundation Pillar/Post/Pier
Architectural Style Fourplex
Construction Status Under Construction
Schools
Elementary Schools Port St. Joe
Middle Schools Port St. Joe
High Schools Port St. Joe
Others
Tax ID 04603-030-000
Acceptable Financing Cash
Listing Terms Cash
Financing Cash
Special Listing Condition Listed As-Is
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