Don't just buy house, buy a business. This is an old-school Florida beach rambler that is a legal duplex located within the R2 weekly rental zone. We have done a lot of loving updates, including the installation of a lagoon-like pool in 2014 and full kitchen remodel in early 2018. The house is presently divided into a 5 bdrm/2 bath with outdoor shower situated around the pool. The bedrooms are split into two separate areas in an L-shape so it's comfortable for two families or groups to share the house. More than 95% of all guests have rated this property 5-stars on all rental sites for years with a Superhost distinction on Airbnb. Purchaser would be able to take over these accounts for a seamless transition. The other unit is a one-bedroom/1.5 bath with an outdoor shower, large outdoor deck, split-ductless AC and a lush, tropical yard, gazebo and fire pit. We do have ready-to-permit plans from our pool builder for a pool in this space and local ordinances allow for a second pool. This smaller unit presently sleeps four. Both units could be used as a weekly rentals, although we presently homestead the smaller unit (which we call "the cottage") and retain it exclusively for our use. The home has five parking spots, and there's space to add a sixth. The main house is a fully compliant, city-registered rental. The home has a strong rental history earning $80K-$85K annual per year from renting only the larger side of the property. This is based on around 70% occupancy and discounted rates for return/monthly guests; it is owner occupied about 20% of the year. Use the property less than we do, and earnings would likely hit $90K-$100K. Both units together could generate as much as $140K annually, particularly if a second pool was added. We can provide Schedule C information and Airbnb/Homeaway income statements for four years to support income history. The larger unit comes turnkey furnished to allow for continuity with rentals. We have an awesome cleaner, handyman and support crew already in place, or switch to your own rental management company. We have architectural plans for fourth bathroom which would make the main rental a 5 bd/3 bath. One of the owners grew up on the island and bought this home to be close to her mother who was a resident for 43 years. However, her elderly mother recently moved to the mainland near Tampa which is why we are considering selling.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
