Earn income while going through the developmental process for this .4238 acre parcel directly on Gulf BL across from Treasure Island Beach. Income producing, 6 unit, Treasure Island property! One two story, 4 bedroom, 2 bath single family producing $1,395/month, PLUS 5 unit single story building producing $3,680/month. All units are currently occupied with annual leases with an option to renew. Property has 100 feet footage on Gulf Blvd and the canal with easy access to John's Pass and the Gulf of Mexico. According to the City of Treasure Island: Size – 0.4238 acres Zoning – RFM 30 Base Flood Elevation – AE 11 (New Flood Maps are currently being reviewed by FEMA. Anticipated adoption is within 24 months.) Required Freeboard - +2 feet Allowed Density – 30 Units per acre for Hotels/Motels/Condo-Hotels – 15 Units per acre for multi-family dwellings (Condo – Non-Tourist Dwelling) Actual Density - Hotels/Motels/Condo-Hotels 12 Units can be placed on this parcel - (for 0.4238 ac) Multi-family dwellings (Condo – Non-Tourist Dwelling) 6 Units can be placed on this parcel
Listing courtesy of BHHS FLORIDA PROPERTIES GROUP.
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