$975,000
$995,000
2.0%For more information regarding the value of a property, please contact us for a free consultation.
2 Beds
2 Baths
999 SqFt
SOLD DATE : 05/20/2023
Key Details
Sold Price $975,000
Property Type Condo
Sub Type Condo - Hotel
Listing Status Sold
Purchase Type For Sale
Square Footage 999 sqft
Price per Sqft $975
Subdivision Avalon Club Resort Condo
MLS Listing ID U8193674
Sold Date 05/20/23
Bedrooms 2
Full Baths 2
Condo Fees $1,067
HOA Y/N No
Originating Board Stellar MLS
Year Built 2021
Annual Tax Amount $11,732
Lot Size 0.350 Acres
Acres 0.35
Property Description
Is it EVEN POSSIBLE that a condo in a popular brand-new Beach building could be located on one of the top floors with 2 BR, 2 FULL bathrooms, a huge private owner’s closet (so big bunk beds were discussed as a possibility for that space) and yet still be PRICED UNDER ONE MILLION dollars?
What if we now told you that the condo has a garage space & even more impressively has two deeded balconies (nearly 300 total SF between them). These two provide phenomenal views of the Gulf of Mexico, the Beach, as well as the Bay, the heated swimming pool, & even the islands beautiful Park “McKay Playfield”. If only you could imagine owning this along with benefiting from a “zero effort” CASH STREAM rental program located in house with a “best in resort” commission rate of only 20% despite providing 24-hour service!
The owners took a very safe guaranteed program with a “leaseback” earning them $50,000 positive cash flow above all bills (even HOA & property tax) but realized they would have done even better with the more typical 80/20 split due to the 2022 Gross rental income that exceeded expectation by reaching OVER $130,000.
Now imagine those numbers that were produced in 2022 happened during the “rookie inaugural season” for this building! No one can give guarantees, but a reasonable person might project that most resorts receiving rave reviews like the Avalon Club improve after the first full year because they will have a repeat following.
As great an investment as this can be, “best of all” is that your family can use this fabulous condo with no blackout periods & no strict total day limits for your own enjoyment when it is not earning money for you. (Room sizes approximate to be verified by buyer/ condo DOCS attached)
NOTE we learned the "leaseback" constant cash payment each month was an offer only for Pre-construction buyers. Future owners will have the traditional 80/20 split offered for choosing in house management. Luckily this has provided higher revenue for those owners who elected it in the past anyway.
Location
State FL
County Pinellas
Community Avalon Club Resort Condo
Rooms
Other Rooms Storage Rooms
Interior
Interior Features Ceiling Fans(s), Eat-in Kitchen, Elevator, High Ceilings, Kitchen/Family Room Combo, Open Floorplan, Split Bedroom, Stone Counters, Thermostat, Window Treatments
Heating Central, Electric, Exhaust Fan
Cooling Central Air
Flooring Tile
Furnishings Furnished
Fireplace false
Appliance Dishwasher, Disposal, Dryer, Electric Water Heater, Exhaust Fan, Microwave, Range, Refrigerator, Washer
Laundry Inside, Laundry Room
Exterior
Exterior Feature Balcony, Lighting, Outdoor Shower, Sliding Doors
Garage Deeded
Garage Spaces 1.0
Pool Child Safety Fence, Gunite, Heated, In Ground, Infinity, Lighting, Outside Bath Access
Community Features Fitness Center, Park, Playground, Pool, Boat Ramp, Restaurant, Sidewalks
Utilities Available BB/HS Internet Available, Cable Connected, Electricity Connected, Public, Sewer Connected, Street Lights, Water Connected
Amenities Available Cable TV, Elevator(s), Fitness Center, Maintenance, Pool
Waterfront false
View Y/N 1
Water Access 1
Water Access Desc Beach,Gulf/Ocean,Intracoastal Waterway
View Park/Greenbelt, Pool, Water
Roof Type Membrane
Parking Type Deeded
Attached Garage true
Garage true
Private Pool Yes
Building
Lot Description Cleared, Corner Lot, Flood Insurance Required, FloodZone, Landscaped, Level, Near Marina, Near Public Transit, Sidewalk, Paved
Story 8
Entry Level One
Foundation Slab
Lot Size Range 1/4 to less than 1/2
Sewer Public Sewer
Water Public
Architectural Style Contemporary, Elevated
Structure Type Cement Siding, Concrete
New Construction false
Others
Pets Allowed Number Limit, Size Limit
HOA Fee Include Pool, Maintenance Structure, Maintenance Grounds, Maintenance, Pool, Recreational Facilities, Sewer, Trash, Water
Senior Community No
Pet Size Small (16-35 Lbs.)
Ownership Fee Simple
Monthly Total Fees $1, 067
Acceptable Financing Cash, Conventional
Membership Fee Required None
Listing Terms Cash, Conventional
Num of Pet 2
Special Listing Condition None
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