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$2,999,000
7 Days Online

1803 GULF BOULEVARD
INDIAN ROCKS BEACH, FL 33785

For Sale|Multi Family|Pending
18
Beds
15
Full Baths
0
Partial Baths
8,101
SqFt
$370
/SqFt
1991
Built
Subdivision:
INDIAN BEACH RE-REVISED
County:
Pinellas
Call Now: 727-821-0603
Is this the home for you? We can help make it yours.
727-821-0603
1803 GULF BOULEVARD1803 GULF BOULEVARD1803 GULF BOULEVARD1803 GULF BOULEVARD
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Monthly Payment (Est.)

$13,683
Calculator powered by Showcase IDX. Copyright ©2024 Information is deemed reliable but not guaranteed.

Under contract-accepting backup offers. CASH OR OWNER FINANCING ONLY (50% MINIMUM DOWN PAYMENT) This is a high vacancy property with delayed maintenance awaiting for the new owner(s)/operator(s) to transform it. excellent opportunity to acquire a rare non-conforming 14 unit licensed VALUE ADD Motel on the market in primo location, off Gulf Blvd on Indian Rocks Beach, FL! The Sea Star Motel, a family owned and operated Motel over the last 25 years hits the market! The property consist of 13 units ( efficiencies, one bedroom/one bathroom, two bedroom/one-two baths) and the owner’s home (14th unit) a 2 bedroom/2 bathroom home with large office that can be converted to third bedroom, living room, dinning, and ability to reconfigure to 4/2 that sits over two car garage plus two carport. Guest will enjoy stunning views of the Gulf of Mexico from the stop of the stairs, front porch, with Hot tub. All units are combined on Three parcels, two facing Gulf Blvd, in total 8,100 living sqft/9,834 over roof sqft, four (4) Buildings and separate building for laundry and storage(5th building) in total. Sale Price includes all furnishings for units 1-13. All rooms have full size kitchen or kitchenettes with multiple laundry on site. There is ample guest parking, boat, RV, Trailor, for additional revenue. There are several Value-add strategies: 1. Owner/operator optimizes bookings, rebrands Motel, brings in professional management, renovates units, can live on site or off site to maximize ROI. There is enough space in the court yard to add in a New Pool and still have plenty of outdoor guest space. The Nightly rates are well below market and owners are aware. See website for current boking prices. This creates an opportunity for new owner/operator to capture lost revenue from sub market rates. 2. Use some units as month to month or furnished longer term rentals with no leases in place therefore, new owner/operator can operate as full time Motel or allow Short term rental bookings via VRBO/AirBNB. Of importance when performing your independent financial analysis/ underwriting, Owner’s home/unit has never been leased due to owner occupancy onsite full time. The single family home has the ability to reconfigure to allow 8+ guest due to its size of just under 1700sqft. 3. Alternatively, A developer could assemble all three parcel and rezone to achieve 8+ Luxury townhomes (speak to local zoning) up to 35ft each with variable density and sqft. Indian Rocks Beach zoning and municipality currently allows short term rentals with no minimum day restrictions. Therefore, a savvy Investor/Developer can capitalize on this rare opportunity. Multiples offers are expect as property is priced for quick sale with minimal inspection/due diligence period. No HOA, Condo, Deed restrictions, a rare fee simple Motel ready for the new owner. Please note this business is an active Motel with guest therefore, shown by appointment only. Sellers will consider Owner financing with 50% downpayment to qualified and experienced Hotel/Motel Investor-Operators who have a proven and verifiable track record with similar projects. Financials and creditworthiness will be independently evaluated by sellers to consider owner financing terms. Do not walk, solicit, or disturb guest or owners. A non-disclosure agreement (NDA) must be signed by all parties prior to sharing any inspections, disclosures, Financials, and offering memorandum package.

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Listing Snapshot
Price 
$2,999,000
Days Online 
7 Days
Bedrooms 
18
Inside Area (SqFt) 
8,101 sqft
Total Baths 
15
Full Baths 
15
Partial Baths 
N/A
Lot Size 
0.51 Acres
Year Built 
1991
MLS® Number 
U8255142
Status 
Pending
Property Tax 
$8,038
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
Public Records
Friends & Family
Recent Activity
a week agoListing first seen online
a month agoListing updated with changes from the MLS®
General Features
Acres 
0.51
Attached Garage 
Yes
Carport 
2
Foundation 
BlockPillar/Post/PierSlab
Garage 
Yes
Garage Spaces 
2
Parking 
Attached
Property Sub Type 
Multi Family
Sewer 
Public Sewer
SqFt Total 
8101
Stories 
One
Utilities 
Cable Available
Water Source 
Public
Interior Features
Appliances 
Bar FridgeCooktopDishwasherDisposalDryerElectric Water HeaterExhaust FanFreezerIce MakerMicrowaveRangeWasher
Cooling 
Central Air
Fireplace 
Yes
Fireplace Features 
Wood Burning
Furnished 
Furnished
Heating 
CentralElectric
Interior 
High Ceilings
Laundry Features 
Common Area
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Exterior Features
Construction Details 
BlockConcreteStuccoWood Siding
Exterior 
BalconyOutdoor GrillOutdoor Shower
Lot Features 
Corner Lot
Roof 
Shingle
View 
Water
Waterfront Features 
GULF OF MEXICO
Waterview 
Water
Community Features
Financing Terms Available 
Cash
MLS Area 
33785 - Indian Rocks Bch/Belleair Bch/Indian Shore
Roads 
Paved
Township 
30
Listing courtesy of LPT REALTY, LLC 7275043490



Listing information is provided by Participants of the Stellar MLS. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Properties displayed may be listed or sold by various participants in the MLS Copyright 2024, Stellar MLS.
Data last updated at: 2024-10-06 04:25 PM EDT

Neighborhood & Commute
Source: Walkscore
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