551 BROADWAY STREET 1, LONGBOAT KEY, FL 34228
$1,100,000
Multi-Family Home 3,262 Square Feet Taxes: $5,504.00 Built in 1946 Style: Bungalow, Historical Type: Multi-Family Listed on 02/11/2018 MLS # A4209864

Description of 551 BROADWAY STREET 1, LONGBOAT KEY, FL 34228

Reduced $400K! A rare, seaside income opportunity on boating water nestled between the Gulf and the bay. This 1946 vintage, uniquely charming six-unit limestone structure is located on a corner lot on one of the original building sites in the Historic Village of Long Beach on tropical North Longboat Key. Included are 3 platted non-conforming contiguous lots; two are vacant residential waterfront lots (7009 & 7017 Longboat Drive N.) Perfect for vacation rentals, located just .01 mile to the beach access to Longboat Key's famous beaches and the waters of the Gulf of Mexico where blazing sunsets are enjoyed each night. New seawall, no bridges to the bay and direct access in minutes to Longboat Pass and the Gulf of Mexico. In operation since the 1800s, the Historic Village offers a treasured island lifestyle with restaurants and a Center for the Arts, nearby community boat ramp and fishing piers. Although the value is mainly in the land (2 conforming lots), the historic value and renewed interest in vintage buildings cannot be ignored. Restoring the building with 6 beachside vacation rentals could be a worthwhile investment. The six rental units include five efficiency units and one, one-bedroom unit. There is no recent rental history, however, a limited past history is available. The popular waterfront Mar Vista Restaurant is just two blocks away. The island trolley, a block away, heads north to Anna Maria Island’s restaurants and boutiques, or south to St. Armands Circle for shopping, dining and nightlife.

Directions to 551 BROADWAY STREET 1, LONGBOAT KEY, FL 34228

North on Gulf of Mexico Dr, East (Right) on Broadway Street (just before the North Bridge). Turn left at corner to park on Longboat Drive. Two vacant lots are #7009 & 7017 Longboat Drive North.

Features of 551 BROADWAY STREET 1, LONGBOAT KEY, FL 34228

Schools

  • Elementary school: Anna Maria Elementary
  • High school: Bayshore High
  • Middle school: Martha B. King Middle

Heating/Cooling

  • Central heat
  • Window unit air conditioner

Exterior

  • Patio
  • Porch
  • Stone exterior

Lot

  • Corner lot
  • Lot acreage is: 0.43
  • Lot dimension is: 169x125x150x125
  • Lot has canal view
  • Lot has southeastern exposure
  • Lot has water view
  • Lot on flood plain
  • Lot zoned: R6SF
  • Subdivision: LONG BEACH, REV OF
  • Waterfront lot

Roofing

  • Metal roof

Construction

  • Property style: bungalow
  • Total square feet: 3262.00
  • Units in building(s): 1

Other

  • Tax year: 2017

Mortgage Payments for 551 BROADWAY STREET 1, LONGBOAT KEY, FL 34228

The approximate monthly Principal & Interest payment for this property would be $5,498. This payment is based on a 30-year loan at a fixed rate of 4.54 % with a down payment of $110,000. Actual lender interest rates and loan programs may vary.

Use our Mortgage Payment Calculator to determine a more exact payment estimate.