$2,459,000
$2,595,000
5.2%For more information regarding the value of a property, please contact us for a free consultation.
3,744 SqFt
SOLD DATE : 05/03/2024
Key Details
Sold Price $2,459,000
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Square Footage 3,744 sqft
Price per Sqft $656
MLS Listing ID 224021129
Sold Date 05/03/24
HOA Y/N Yes
Originating Board Florida Gulf Coast
Year Built 1969
Annual Tax Amount $9,895
Tax Year 2023
Lot Size 0.488 Acres
Acres 0.488
Property Description
Welcome to the Driftwood Inn, a boutique gem located in Sanibel Island's Resort Housing district, offering nightly rentals. This is a rare opportunity to acquire one of a few properties with nightly rentals on Sanibel Island. This well-established property is in one of Florida's most coveted beach destinations. Featuring four charming two-bedroom / two-bathroom cottages with full kitchens and screened lanais just seven houses from the beach access. Meticulously maintained, efficiently managed, and conveniently located near restaurants and shops, the Inn provides a perfect balance of island tranquility and accessibility. The Driftwood’s Island charm, peaceful grounds, and ideal location make it a top choice for island vacationers. Recent renovations exceeding $600,000 make it a turnkey investment opportunity with reservations already secured. Projections for 2024 forecast a robust gross rental income of $315,000, supported by strong occupancy and loyal repeat guests. The Driftwood Inn offers the perfect combination of rental income and real estate value appreciation, making it a sound investment opportunity in the hospitality market.
Location
State FL
County Lee
Interior
Cooling true
Fireplace No
Exterior
Utilities Available Electricity Connected, Sewer Connected, Water Connected
Waterfront Description None
Garage No
Building
Story 1
Level or Stories 1
New Construction No
Others
Senior Community No
Tax ID 30-46-23-T2-00302.0310
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Bought with Pfeifer Realty Group LLC
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