$2,900,000

404 Canal Street

TARPON SPRINGS FL, 34689

Description

WOW!! Calling all INVESTORS, BUILDERS & DEVELOPERS!! Here is your UNIQUE OPPORTUNITY to own 2 Acres in Downtown, Historic Tarpon Springs! 6 Contiguous Properties on over Half of a City Block with Spectacular Views Overlooking Spring Bayou, that will lead you out to the Gulf of Mexico! Within just a Short Walking Distance to The Historic Downtown Tarpon Springs and World Famous Sponge Docks with Amazing Waterfront Restaurants and Shopping, along with Craig Park, which surrounds Spring Bayou and has a Community Boat Launch Ramp! Wet & Dry Boat Storage are also available within Walking Distance. This Total Property Package has Endless Potential ~ Just Given the Current Structures alone, which includes The Historic, First Baptist Church, Built in 1926, that has been Structurally Reengineered and Redesigned into an Exquisite and Amazing Estate Home, Ready to be Completed with your Very Own Finishing Touches! This Property also comes with built in Rental Income from the existing FourPlex, Triplex and 3 Single Family Homes located on the property, all currently leased on a month to month agreement that can be renewed or ready to bring in New Tenants! There is also enough vacant land to build additional Income Properties, which the City of Tarpon has already approved for an additional 7 units! Or if you are the right Buyer/Contractor, you might take advantage of even a greater potential project that could include Total Redevelopment into 17 New Townhomes! Detailed next, are the 6 properties that are included to be sold in this Total Property Package: 1.) 160 Read St. ~ Expansive Single Family Home, divided into Two, Independent Living Spaces. Approximately $850K invested in Near-Complete Redevelopment into Two, High-End Living Spaces. 5 Bedrooms, 5 Full Baths & 2 Half Baths ~ 7,041 sq. ft. Living Space with 3,500 sq. ft. Garage/Workshop on Ground Level that will Accommodate up to 12 Vehicles. Major Redevelopment project completed by current owner in 2014-2016, which utilized SIP's Construction and all Steel Structural Members, the building is Simply Incredible & Essentially Termite-Proof! New Roof in 2016, Pre-wired for Solar Panel Installation and all Bedrooms are Master Bedrooms! Tiltco Premium Hurricane Rated, Triple Pane Windows and Doors are Beautiful and Eliminate ALL external noise and are HUGE Energy Savers! Centrally located Elevator serves both Units and the Former Bell Tower is PERFECT to catch all the Sunrises and Sunsets! 2.) 158 Read St. ~ 1 Bedroom/1 Bath Cottage with Attached Carport. New Kitchen and Bath in 2011 and is 616 sq. ft. 3.) 154 Read St. ~ 1 Bedroom/1 Bath Craftsman Style Home with Attached Carport. Last Updated by Previous Owner around 2005. Bonus Room could be used as a 2nd Bedroom. Heart Pine and Tile flooring throughout and is 780 sq. ft. 4.) 140 Read St. ~ 2 Bedroom/1 Bath Single Family Home with Detached Carport and Workshop. New Tile throughout in 2009 and home has 2 Bonus Rooms, a Screened Lanai and a Fenced-in Back Yard. This home is 1,340 sq. ft. 5.) 404 Canal St. ~ Fourplex ~ Four 1 Bedroom/1 Bath Apartments. 2 of the units have been partially Remodeled and a New Roof was put on within the last 4 Years. This Fourplex is 2,550 sq. ft. 6.) 125 W. Park St. ~ Triplex ~ One 2 Bedroom/1 Bath Apartment and Two 1 Bedroom/1 Bath Apartments. All 3 Units have been remodeled within the last 5 years & New Roof within the last 4 years. This Triplex is 1,728 sq. ft.

Details

MLS#U8094446
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1926
Days On Site97

Features

SQ Feet14,055
Property ViewWater
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Area Information
StateFL
CountyPinellas
CityTARPON SPRINGS
Zip Code34689
Area34689 - Tarpon Springs
Listing VS Median (in 34689)
Price:
$2,900,000
low | high
Med:
$249,999
100% of Average
SqFt:
14,055
low | high
Med:
2,301
100% of Average
$ / SqFt:
$206
low | high
Med:
$109
97.343194937733% of Average
On Site:
97
low | high
Med:
54
100% of Average
Listing Updated: October 29, 2020 4:28:19 PM PDT
Christina Devine LogoMLS Number: U8094446
Listing Provided By:
Christina Devine  of  COASTAL PROPERTIES GROUP

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