UPDATED:
11/14/2024 12:35 PM
Key Details
Property Type Multi-Family, Condo
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 1,628 sqft
Price per Sqft $829
Subdivision City Of St Augustine
MLS Listing ID 1249560
Bedrooms 5
Full Baths 2
Half Baths 1
Originating Board realMLS (Northeast Florida Multiple Listing Service)
Year Built 1900
Annual Tax Amount $13,208
Lot Size 2,178 Sqft
Acres 0.05
Lot Dimensions 40x55
Property Description
Numbers below are after booking & Management Fees.
-Just getting started in Sept. 2022 to Dec. 2022 earnings = $24k.
-Jan. 2023 to Dec. 2023 earnings = $70k. (3 times more than what was earned in 2022.)
-Jan. 2024 to Aug. 2024, earnings = $60k, with bookings through Dec. 2024 estimating an additional $23k. Putting 2024 currently at roughly $83k with more bookings happening daily. (This is 1.185 times more earned than 2023.)
-Based on averages we anticipate an additional $7k-$10k of income booked through the end of this year. Putting the annual income close to $95k-$100k.(about 1.428 times more than 2023.)
-Future bookings for 2025 are sitting at roughly 11k with about 39 days booked. Increase your bookings to 75% projects $149k annually, and 100% booked at $199k. (Based on averages ran) *Ask for updated numbers. This pre-1900's (1860s) fully furnished turnkey property is located in the heart of our Nation's First and Oldest cities, St. Augustine's historic district and is truly one of a kind!
Spending close to half a million dollars, the owner meticulously, lovingly and carefully restored this property, while maintaining its historic charm. You can own this piece of history with peace of mind that as much attention went into the aesthetic as went into the underlying structural integrity. You aren't just getting a property with some minor updates, you are getting a true internally completed restoration & renovation.
The renovation includes all new plumbing, all new electrical, all new appliances, new on demand water heaters, a total scrape, repair and exterior paint job , new interior paint, structural inspection and rejuvenation where needed, no cost was spared, owner had intended on owning for the foreseeable future.
The total restoration costs for this historical gem were upwards of half a million dollars. (Check out the docs tab for arch plans and more.)
The area of Cuna and Spanish Streets just underwent a lengthy beautification process where we are now just next door to the most lovely walking district in all of downtown, quiet, beautiful and still in the middle of it all. The installation not only focused on the aesthetic but greatly improved the infrastructure with new sewer and water lines, a greatly improved drainage system and beautiful streetings and red brick streets. A great area to own downtown, safe and inviting.
Currently an active airbnb with prime access to all of what downtown St. Augustine has to offer! Leave it as an airbnb, perfect for large groups of up to twelve, convert to a long term rental, student housing, pad split, commercial retail business or more! With commercial zoning, your possibilities are only limited by your imagination!
This property and its amazing history will live on for years to come, with the recent renovations it will stand for another 170 plus years! Owning such a beautiful relic in your portfolio is certainly something to be proud of and one piece of real estate you will NOT regret owning!
Schedule your private tour now!
Location
State FL
County St. Johns
Community City Of St Augustine
Area 322-Downtown St Augustine
Direction I-95 N,Take exit 318 toward St Augustine,Merge onto FL-16 E, Turn right onto US-1 S/N Ponce De Leon Blvd,Turn left onto Carrera St, left onto Cordova St, right onto Cuna St. Parking off Spanish
Interior
Heating Central, Electric
Cooling Central Air, Wall/Window Unit(s)
Flooring Vinyl
Furnishings Furnished
Exterior
Pool None
Utilities Available Cable Connected
Waterfront No
Roof Type Shingle
Garage No
Private Pool No
Building
Lot Description Historic Area, Other
Story 2
Sewer Public Sewer
Water Public
Level or Stories 2
New Construction No
Others
Tax ID 1982000000
Acceptable Financing Cash, Conventional, Private Financing Available, VA Loan
Listing Terms Cash, Conventional, Private Financing Available, VA Loan
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