Property
Beds
None
Full Baths
0
1/2 Baths
None
Year Built
None
Sq.Footage
N/A
PRICE REDUCED!!!! Great redevelopment piece or condo conversion with current cash flow. 84 unit brick Apartment Complex (48 - 2bed/1bath and 36 - 1/bed/1bath) located on peaceful Pitts Bayou (St. Andrews Bay) a mere 15 minutes (by boat) to the Pass and the Gulf of Mexico. Current density allows up to 20 units per acre (close to 100 future units) and the city is proposing a future density of up to 30 units per acre (close to 150 future units). Perfect location for future retirees who enjoy the water, beautiful sunsets, peaceful surroundings and a little tranquility yet like (or need) to be near ''the action''. No current height restriction but obviously limited by density. Proforma indicates that under the current density a 4-story stick constructed building (95-100 units) would yield
Features & Amenities
Interior
-
Bathrooms
0
Area & Lot
-
Property Type
E
-
Property Class
Commercial
Exterior
-
Garage
No
Financial
-
Sales Price
$5,500,000
-
Zoning
MULTI-FAMILY
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Location
County
Bay
Listing Courtesy of Jeffrey E Dale , Gulfcoast Preferred Properties
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