Flamingo Way, St Petersburg, FL 33707

Property Description

Rare investment opportunity in highly coveted Florida neighborhood.
Waterfront property with over 140 ft. of water! What makes this property an investors dream is that it is legally zoned for short term rentals. As more cities are cracking down on illegal short-term vacation rentals, this is a true gem and huge cash flow generating over $60,000 per year! It's a charming 2 bed / 2 bath home with spectacular views of the water through double French doors that bring the outdoors inside. Enjoy dining at your table while both doors are fully opened and watching dolphins and manatees play just feet away from you! You can add a new dock with room for two boats, opening up additional revenue stream of $500/month. The home is also zoned for a 750 ft² mother-in-law suite that could be added into the spacious backyard! This mother-in-law week could be an additional cash flow opportunity that could bring in $2000 or more per month potentially!
This home is as close to the beach as you can get with legal short term rentals! St. Pete Beach, Gulfport Beach, Treasure Island and more. A short distance from grocery stores, restaurants, nails salons, pharmacies, doctor offices and a hospital. Bring your boat or kayak and check out the nearby islands. The closest one is Jack Island that is such a treat! This home has it all! And while many homes in the area have experienced flooding this home has NOT!!! It is a solid home with brand new plumbing and newer roof and AC. The location really says it all. This is the Florida life! And let's not forget that huge saltwater pool! It is deep enough to dive and a diving board me be added to the property. And has a wonderful sun shelf for putting your lounge chairs and benches all around and a pool heater. The ultimate party pool! The home also features outdoor speakers and solar panels. If you have dreamed about owning a waterfront home in the heart of St Pete Florida, but could not afford one, do not delay on this opportunity that will surely entice investors due to the sheer magnitude of all the cash flow opportunities from the single nearly one acre property.