Experience the best of Siesta Key with this vibrant two-unit duplex property, ideally located just steps from the stunning Crescent/Siesta Key Beach. This unique property is perfect for investors or those seeking a vacation home, offering both exceptional income potential and a prime location. The property features two units: Unit A, a spacious 3-bedroom, 2-bathroom residence with a heated inground saltwater pool and an above-ground hot tub; and Unit B, a cozy 1-bedroom, 1-bathroom unit with its own private above-ground pool and hot tub. Both units are decorated with fun, energetic, and colorful decor, including custom murals by local artists that add vibrant pops of color to the traditional shiplap walls. Recent upgrades include new floors, fresh paint, modern bathrooms, and stylish new furnishings. The kitchens in both units are equipped with granite countertops and stainless-steel appliances, ensuring a modern and comfortable living experience. The exterior of the property is equally impressive, featuring new fencing, a stone-paved patio with two grills, and private pools and hot tubs for each unit. This property is not only aesthetically pleasing but also functionally superior, having earned a 4. 9-star rating as a VRBO 'Premier Host' and recognized as an Airbnb 'SuperHost'. The property is zoned for short-term and nightly rentals, making it an excellent investment opportunity. Tucked away on a peaceful cul-de-sac, this property offers privacy while being within walking distance to the beach, local restaurants, bars, grocery stores, and shops. Guests can enjoy easy access to rental shops for boating, kayaking, jet skiing, and other water sports, enhancing the vacation experience. The property is a short five-minute drive from Publix, adding convenience for both guests and owners. With in-house property management, cleaners, and handyman services already in place, the transition will be seamless and hassle-free. The current management fee is a low 3. 5%, compared to the standard 20% in most cases. This turnkey operation generated $286, 000 in gross income over the past 12 months, with a gross cap rate of 10%, and is projected to increase rental income by 20% next year with the newly renovated and added amenities. This massive income-producing duplex is a rare find in Siesta Key, combining a fun, Instagram-worthy atmosphere with substantial financial benefits. Don't miss out on this exceptional opportunity to own a piece of paradise that promises both enjoyment and profit. Contact us today to schedule a showing and discover why this property is one of the most sought-after investments in Siesta Key.
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NMLS Mortgage Loan Originator ID 16953
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $2,120,000 | $2,120,000 | $2,120,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.125% | 6.125% | 6.000% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.443% | 6.258% | 6.201% |
Monthly Tax Payment | $1,198 | $1,198 | $1,198 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $12,881 | $12,881 | $17,890 |
Total Monthly Payment | $14,204 | $14,204 | $19,213 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.