Property Description

Looking for a lucrative investment property that you can enjoy? This is it: A 3-day min vacation rental steps from the sand! Indeed, the front gate of the building is just 900' to the pristine, white sand of gorgeous St Pete Beach, famed as the #2 voted beach in the US for 2020! Past years St. Pete Beach was #1, as well as #1 family beach vacation destination! RENTAL INCOME FOR 2018 WAS JUST UNDER $25k, DESPITE OWNER USAGE AT PEAK TIMES FOR 63 NIGHTS! IN A NORMAL MARKET, IT SHOULD BE EARNING $35k WITH OWNER USE ONLY IN LOW SEASON VS CHRISTMAS, EASTER & ALL OF APRIL! The Waves is a charming, gated enclave of 19 condominiums organized around a central courtyard and community pool. (Just in case you are wondering how a property with only 19 units can have a #20, the developers must have been superstitious. They never built a unit #13, skipping that number altogether!) The location is exceptional with the beach, restaurants, shops & "watering holes" just a short stroll away! This upstairs, corner 2/2 has been FULLY remodeled, including the addition of a full-size, stackable washer and dryer. The unit also has a great built-in Murphy bed in the living room, comfortably boosting the sleeping capacity from four to six. There are large closets, plus a locked owner's closet for storing your items, while renters are in residence. The tile floors throughout are perfect for the beach life and a popular rental! The Waves amenities include an air-conditioned laundry room on the ground floor, complete with an air-hockey machine and comfy seating area; and the beautiful, heated pool. The community has been exceedingly well maintained. The roof was replaced in 2006. Within the last few years, the pool had a face lift with new tiles, finish and equipment and the whole building was painted. HOA Fees cover it all except electric @ $140/mo. avg. Because legal 3-nt minimums are scarce on St. Pete Beach, units at the Waves have been selling quite briskly. Waves units have been selling at prices per square foot up to $379, and that was BEFORE this ugly Pandemic. #20 is offered at just $291.01/sf!!! Indeed, seven have sold since Oct of 2019. Why? Because this is a GREAT building, superior location with a super walk-ability score AND affordable. Leverage your cash with a mortgage and at today's rates, (with owner usage restricted to quieter times), you will be earning a great rate of return on your investment. You can't vacation in a stock certificate and you can't beat St. Pete Beach! Check out the 3-D Matterport Virtual Tour and Floor Plan!