Property Description
Located in one of Gulfport's most desirable rental corridors, 5505 16th Ave S presents a rare opportunity to acquire a stabilized, cash-flowing triplex with diversified income streams and long-term upside. This well-maintained NON FLOOD ZONE property offers a total of three units with a strong mix of long-term and short-term rental income, making it ideal for investors seeking both stability and growth. Also, a great opportunity for those looking to HOUSE HACK and live in one unit and have the other two units cash flow make for free living!Unit 1 features a spacious 3-bedroom, 1-bath layout encompassing 1,086 square feet, currently leased as a long-term rental at $2,500 per month. Unit 2 is a 330-square-foot studio, also rented long-term at $1,500 per month, offering efficient living with strong tenant demand.Unit 3 is a 400-square-foot fully furnished studio operating as a short-term rental, generating $1,700 per month with an average nightly rate of $80 and approximately 75% occupancy, providing immediate upside through optimized short-term management. All three units are serviced by a shared laundry area, adding convenience for tenants and an additional value component for ownership. Major capital improvements include a new roof installed in 2019 and a sewer line replacement in 2019, significantly reducing future maintenance exposure and enhancing long-term asset durability. With a compelling blend of reliable long-term income and flexible short-term rental potential, this property is perfectly positioned for investors looking to maximize returns in a thriving coastal market. Whether held as a stabilized asset or further optimized for increased cash flow, 5505 16th Ave S stands out as a turnkey multifamily opportunity in Gulfport.
Property Features
Property Type: Multi Unit - Multiple
Cooling: Central Air, Wall/Window Unit(s)
Heating: Central, Electric, Ductless
Lot Size: 0.13 Acres
Roof Type: Shingle
Taxes: $5,870
Year Built: 1950
Square Feet: 1,816
Amenities
Ceiling Fans(s)
Lighting
Private Entrance
Feature Descriptions
Annual Net Income: 47604.00
Days on Site: 54
Directions: From 16th Ave S, property is on the left.
Exterior: Frame
Flood Zone Code: X
Foundation: Slab
Home Warranty Y/N: No
Lease Terms: Twelve Months
Lot Dimensions: 0.13
Other Equipment: Private Entrance
Ownership: Fee Simple
Property Attached Y/N: No
Property Sub-Type: Triplex
Sewer: Public Sewer
Showing Instructions: 24 Hour Notice, ShowingTime
Special Sale Provisions: None
Units: 3
Utilities: Cable Connected, Electricity Connected, Public, Sewer Connected, Water Connected
Water: Public
Water Access Y/N: No
Listed By / Shown By
Listed By
Agency Name: COMPASS FLORIDA LLC
Agency Contact: 727-339-7902
Shown By
Agent Name: Katherine Figueroa Santiago
Agent Phone: Cell: (407) 417-4227
Agency Title: Watson Realty Corp., REALTORS ®
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Estimated Payment
$ 3,301.77 per month $2,652.18 Principal & Interest $489.17 Property Tax $160.42 Homeowner's InsuranceChange Payment Information
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5505 16th Avenue S | MLS# TB8471888
This multi-family property located at 5505 16th Avenue S, Gulfport, FL 33707 is currently listed for sale with an asking price of $550,000. Search Gulfport real estate on katherinef.watsonrealtycorp.com today.