521 Drury LANE
Punta Gorda, FL, 33950 $ 1,300,000
Baths0.0 Sq 3,818 Monthly Estimate*
$ 8,640
Studio
for $1,300,000. This 3,818 square foot building was built in 1956 on a lot size of 0.57.
Have you been seeking a profitable real estate investment opportunity in the extremely popular and trendy city of Punta Gorda? Majestically nestled on a 0.57-acre lot just 3-miles from Downtown Punta Gorda, this 7-unit paradise provides guests an unforgettable experience with delightful onsite amenities and ultra-comfortable accommodations. Boasting a gross revenue of approximately $265,000 in 2023, the property also offers an impressive 12.68% cap rate for those seeking an above-average ROI. Thoughtfully fashioned for the utmost tranquility, the grounds express an organically flowing vibe with gorgeous new tropical landscaping (2022), heated pool (new heater, pumps, filter, and housing-2022/2023), blissful gazebo, hammocks, a meditation area, soothing hot tubs, and several decks. Three buildings encompass 7 rental units, which each have a unique layout and appealing aesthetic. Two units, Guava Bungalow and Papaya Bungalow, each sleep four and include a kitchen, two bedrooms (total 4 twin beds), and a modern full bathroom. Two other units, Orange Bungalow and Coconut Bungalow, both sleep three and have a kitchen, 2+ twin beds/sofa beds, and a full bathroom, while one unit also has a private hot tub and deck. Three units, Avocado Bungalow, Grapefruit Bungalow, and Mango Bungalow, each sleep 2 and feature 2 twin beds (convert to King), a full kitchen, and a chic full bathroom, while one unit also boasts a jetted soaking tub. In addition, the property has a plethora of updates including fresh paint (2022), new deck (2022), new main house roof (2022), new duplex house roof (2022), new Chickee Hut wiring (2022), new flooring (2022), new septic pump/wiring (2022), new fence panels (2022), new window A/C (2022), and new W/D (2023). Residents will appreciate the outstanding proximity to desirable conveniences, such as artistic venues, boutique shopping, world-class dining, and I-75. Get the coveted financial advantage of this rarely-available property, and call now for a tour!
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FeaturesGeneralSewer Septic Tank
Cooling Mini-Split Unit(s) Wall/Window Unit(s)
Possession Close of Escrow
Roof Metal Shingle
Appliances Dishwasher Dryer Microwave Refrigerator Washer
Zoning OMI
Construction Materials Block Stucco Vinyl Siding Wood Siding
Year Built 1956
Levels One
Property SubType Multi Family
Tax Year 2023
Percent Ownership Sole Proprietor
County Charlotte
New Construction No
Property Type Commercial Sale
Subdivision Name PINEAPPLE CENTRE
Building Features Furnished Pool/Spa
Other Structures Storage
Status Active
Directions I-75 South. West on SR 17. Right on Marlympia Way. Right on Marion Ave. Right on Drury Lane.
City PUNTA GORDA
Buyer Agent Compensation 2%
Disclosures Lead Paint
View Y/N No
NumberOfUnitsTotal 7
MLS Area 33950 - Punta Gorda
Lot Size Units Square Feet
Lot Size Square Feet 25042
Waterfront Y/N No
Street Name Drury
Tax Annual Amount 13431.35
Additional Parcels Y/N No
Virtual Tour https://www.youtube.com/watch?v=E0ykMivl1p8 https://www.solsticepg.com/bungalows
Days on Market 93
Building Area Units Square Feet
Living Area Units Square Feet
Standard Status Active
Occupancy Type Tenant
Tax Lot 7
Legal Description PPC 000 0001 000K PINEAPPLE CENTRE BLK 1 SUB OF LT 7 ALL OF LT K & LT L THAT PT OF LT J DESC AS BEG NE COR LT J S 10 FT SW 110.18 FT N 41.2 FT E 105.75 FT TO POB 728/1319 728/1325 759/20961037/1069 1
Water Access Y/N No
Water View Y/N No
Flood Zone Code AE
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ExteriorVegetation Bamboo Fruit Trees Mature Landscaping
Parking Features 6 to 12 Spaces
Water Source Public
Lot Size Area 25042
Foundation Details Crawlspace Slab
Number of Buildings 3
Building Area Total 4616
Street Suffix LANE
Lot Size Acres 0.57
Road Surface Type Asphalt
Road Frontage Type City Street
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InteriorTotal Stories 1
Air Conditioning Y/N Yes
Total Baths 0
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* Excluded FeaturesList ByKeller Williams South TampaBroker
Affordability Calculator
- Monthly Principal & Interest
- $8,640
- Monthly Property Taxes
- $1,119
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyCommerical listings in Punta Gorda, FL
Average List Price $1,379,949
Percent of Sale Price 6%
About Punta Gorda, FL 19,064 Population
29% Since 2002
$ 59,217 Median Income
68.93 Median Age
7% Households with Children
Trends Information provided by ATTOM Data Solutions.
266288 Elementary School
265661 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
4/3/2024 | $1,300,000 | -11.86% | Price Down |
2/10/2024 | $1,475,000 | -7.81% | Price Down |
1/1/2024 | $1,600,000 | | Listed Price |