509 129TH AVENUE E MADEIRA BEACH FL 33708 MLS #TB8340387

Welcome to this Madeira Beach triplex, ideally situated just steps from John’s Pass Village and Boardwalk. Located on a deep-water canal with stunning views and direct access to Boca Ciega Bay and the Gulf of Mexico, this property features a 14′ x 20′ composite dock and a 13,000 lb boat lift with electric. The triplex consists of three units: a one-bedroom, one-bathroom unit of approximately 450 square feet, another one-bedroom, one-bathroom unit of about 559 square feet, and a spacious two-bedroom, two-bathroom unit measuring roughly 1,114 square feet. The roof was replaced in 2015, and while the 1/1 units boast polished terrazzo flooring, the 2/2 unit features durable concrete flooring. Additional upgrades include some impact windows, new plumbing and waste lines in the 2/2 unit, and brand-new mini-split A/C and heating units in all units. Although the property did sustain flooding during recent hurricanes, it offers a blank slate for investors to
reimagine the interior design. The dock could be rented for an additional $500 per month. The seller has a no substantial damage letter from the City of Madeira Beach so the home can get an interior repair permit and does not need to be demolished per FEMA’s 50% rule. Zoned R2 with a three-month minimum lease requirement, this triplex is within a couple of blocks of John’s Pass Village and Boardwalk, where you can enjoy an array of restaurants, breweries, nightlife, and more.