St. Augustine, FL 32080,50 Cubbedge RD
St. Augustine, FL 32080,50 Cubbedge RD
St. Augustine, FL 32080,50 Cubbedge RD
St. Augustine, FL 32080,50 Cubbedge RD
St. Augustine, FL 32080,50 Cubbedge RD
St. Augustine, FL 32080,50 Cubbedge RD
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Listed by Compass Florida LLC
Bought with Compass Florida LLC

$2,310,000

$2,800,000

17.5%
Est.Price: ?

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Est. payment /mo

10 Baths

6,284 SqFt


SOLD DATE : 04/21/2021

Key Details

Sold Price $2,310,000

Property Type Commercial

Sub Type MultiFamily (5+ Units)

Listing Status Sold

Purchase Type For Sale

Square Footage 6,284 sqft

Price per Sqft $367

MLS Listing ID RX-10683366

Sold Date 04/21/21

Construction Status Resale

Year Built 1977

Annual Tax Amount $12,057

Tax Year 2020

Lot Size 0.600 Acres

Property Description

This unparalleled and rarely available multifamily property sits directly on Crescent Beach within the heart of Saint Augustine, FL. This 7-unit building offers investors a unique value-add opportunity while providing reliable cash flows from the existing 100% occupancy. The property is properly zoned and perfectly suited for a short-term vacation rental or a repositioned annual lease model. Renovated units provide nearly a 75% increase in rents. Short-term vacation rentals have proven to generate almost 300% of current monthly revenues. No matter use, residents enjoy breathtaking vistas of the Atlantic with private beach access to renowned Crescent Beach. Some of the most stunning ocean views are the focal of this investment property. Current NOI is $121K. Bring All Offers.

Location

State FL

County St. Johns

Area 5940

Zoning Multi Family

Interior

Heating Central Individual

Cooling Central Individual

Flooring Ceramic Tile, Vinyl Floor

Fireplaces Type Smoke Alarm, Smoke Detector

Exterior

Utilities Available Cable, Electric

Roof Type Built-Up,Comp Rolled

Building

Story 100.00

Construction Status Resale

Others

Acceptable Financing Assumable-Qualify, Cash, Conventional, Cryptocurrency

Listing Terms Assumable-Qualify, Cash, Conventional, Cryptocurrency

Financing Assumable-Qualify,Cash,Conventional,Cryptocurrency

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