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520 DRURY LANE

Multi-family Recently Sold
$450,000

BTC: 4.99999833

ETH: 141.94643257

Sold on: 2022-04-14
6 days
0 room(s)
1,608 sqft
Est. Estimated sales range: $0 - $0
$0

Overview

RECENTLY RENOVATED DUPLEX WITH EXTENSIVE RENTAL INCOME OPPORUNTIES: This gorgeous TURN-KEY duplex was remodeled in 2015-2016 from the studs in with new windows, doors, A/C systems, roof, water heaters, floors, cabinets, granite counters, appliances, bathrooms, furnishings, closet laundry spaces and outdoor decks. An already established short term income producing property with revenue streams through Airbnb and VRBO bookings generating a net income of over $38,000 annually, this property is ideal for investors looking to be in Southwest Florida. The significant potential that this property affords is nowhere near maximized with substantial room for growth. In addition to the duplex running at only a 30% occupancy rate for short term rentals that can easily be increased, the property also includes a BONUS RV that is hard plumbed/wired for additional rental income. The Owner only recently started renting out the RV and is generating an additional $150 a night from the unit, which is not included in any of the income calculations or materials provided. Not advertised locally, offered at a discount out of season, available for single night rentals or a primary focus point to lease for the Owner, this income opportunity could easily generate twice its current annual income. Not looking to do short term rentals or stays? The property can also be rented as THREE annual rental units for approximately $3,400 a month altogether. Alternatively, live in any one of the units and rent out the others for income or utilize the OMI zoning for commercial purposes, the options are endless. Currently combined with an additional acre of land to be separated at time of sale this property is part of a larger package that can be sold together or separately. Additional package includes an acre of OMI land (MLS#C7455055) and a multiunit complex with additional 7 rental units (MLS#C7455063) along with resort style amenities. Centrally located across from the famous Fat Point Brewery, the property is 1.2 miles off of the interstate as well as 1.5 miles from downtown Punta Gorda offering fine dining, nightlife, Harbor views, walking trails and shopping. Punta Gorda airport is less than 3 miles from the property providing convenience and extremely affordable travel arrangements. Informational packet containing survey, elevation certificates, P&L's, Airbnb bookings, VRBO bookings and rental proforma is available upon request. This is a one of a kind opportunity that will not last long.

Location

Facts and features

Type:
Residential Income
Parking:
Assigned
Year Built:
1973
Lot:
0.19 Acres
Heating:
Central / Electric
Price/sqft:
$280
Cooling:
Central Air
HOA:
No Data
All facts and features
  • Flooring

    • Ceramic Tile

    Heating

    • Central

    • Electric

    Cooling

    • Central Air

    Appliances

    • Dishwasher

    • Dryer

    • Microwave

    • Range

    • Refrigerator

    • Washer

    Other interior features

    • Ceiling Fan(s)

    • Primary Bedroom Main Floor

    • Solid Surface Counters

    • Split Bedroom

    • Stone Counters

    • Window Treatments

  • Parking

    • Assigned

    Property

    • Levels: One

    • Exterior Features: Fenced / Lighting / Sidewalk

    Lot

    • Lot: 0.19 Acres

    Other Property Information

    • Parcel Number: 412305256012

    • Zoning: OMI

  • Type and style

    • Property Type: Residential Income

    • Property Sub Type: Duplex

  • Utility

    • Electricity Connected

    • Public

    • Sewer Nearby

    • Water Available

    • Water Connected

  • Other financial information

    • Annual tax amount: $1,884

  • Source details

    • MLS ID: C7455142

    Other facts

    • Construction Materials: Block / Stucco

    • Foundation Details: Slab

    • Laundry Features: Inside / Laundry Closet

    • Lot Features: FloodZone / Street Dead-End

    • Patio And Porch Features: Deck / Rear Porch

    • Living Area: 1608

    • Water Source: Public

    • Lot Size Dimensions: 139 x 68 x 106 x 75

    • Subdivision Name: FT OF LT B

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The multiple listing information is provided by the Stellar MLS from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024-present Stellar MLS. All Rights Reserved. The information provided is for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Listing courtesy of: RE/MAX PALM REALTY