$850,000
$899,000
5.5%For more information regarding the value of a property, please contact us for a free consultation.
551 BROADWAY ST #1 Longboat Key, FL 34228
3,262 SqFt
Key Details
Sold Price $850,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 3,262 sqft
Price per Sqft $260
Subdivision Long Beach, Rev Of
MLS Listing ID A4453133
Year Built 1946
Annual Tax Amount $7,839
Lot Size 0.430 Acres
Property Description
A rare, seaside income opportunity on boating water nestled between the Gulf and the bay. This 1946 vintage, uniquely charming six-unit limestone structure is located on a corner lot on one of the original building sites in the Historic Village of Long Beach on tropical North Longboat Key. Included are 3 platted nonconforming contiguous lots; two are vacant residential waterfront lots (7009 & 7017 Longboat Drive N). Perfect for vacation rentals, located just .01 mile to the beach access to Longboat Key's famous beaches and the waters of the Gulf of Mexico where blazing sunsets are enjoyed each night. New seawall, no bridges to the bay and direct access in minutes to Longboat Pass and the Gulf of Mexico. In operation since the 1800s, the Historic Village offers a treasured island lifestyle with restaurants and a Center for the Arts, nearby community boat ramp and fishing piers. Although the value is mainly in the land (2 conforming lots), the historic value and renewed interest in vintage buildings cannot be ignored. Restoring the building with 6 beachside vacation rentals could be a worthwhile investment. The six rental units include five efficiency units and one, one-bedroom unit. There is no recent rental history, however, a limited past history is available. The popular waterfront Mar Vista Restaurant is just two blocks away. The island trolley, a block away, heads north to Anna Maria Island?s restaurants and boutiques, or south to St. Armands Circle for shopping, dining and nightlife.
Location
State FL
County Manatee
Community Long Beach, Rev Of
Zoning R6SF
Interior
Heating Central
Cooling Wall/Window Unit(s)
Exterior
Exterior Feature Other
Garage Guest, None, Open
Community Features Water Access
Utilities Available Public
Waterfront true
Waterfront Description Canal - Saltwater
View Y/N 1
Water Access 1
View Water
Roof Type Metal
Building
Lot Description Corner Lot, Flood Insurance Required, Historic District, Near Public Transit, Paved
Foundation Slab
Sewer Public Sewer
Water Public
Structure Type Stone
New Construction false
Schools
Elementary Schools Anna Maria Elementary
Middle Schools Martha B. King Middle
High Schools Bayshore High
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition None
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Bought with KELLER WILLIAMS ON THE WATER