3/3 Townhouse with LEGAL Bonus 1/1 Unit & 2 Car Garage
$549,900
FOR SALE
1605 Royal Palm Dr S
Gulfport, FL
Unit consists of a 3 bed / 3 bath townhouse with an additional In Law Quarters downstairs (1/1 & Kitchenette) and 2 car garage. This community experienced 18 inches of water for the first time ever from Hurricane Helene. All water damage has already been resolved, but the bathroom and kitchenette downstairs have not yet been replaced.
COMP ANALYSIS:
-With such a small sought after community with 19 units, this neighborhood doesn't see many sales. Therefore, we were forced to go back to Jan 2024 to accurately evaluate this property. Doing so resulted in 2 comps that show how great of an opportunity this is!
- Comp 1: 1620 Royal Palm Dr S, Unit D- Sold for $852,500 January 2024. It was the identical end unit as our subject, with a beautiful renovation.
- Comp 2: 1605 Royal Palm Dr S, Unit B- Sold for $620,000 last August. This unit was not only the same size with the same bed/bath count as us, but it was also in very similarly outdated condition.
Roof on building was redone roughly 10 years ago.
Newer AC. Seller says 2023.
Tall Vaulted ceilings.
Priced to Sell!
$70k in equity compared to the cheapest similarly outdated unit that sold in our building last August.
Over $35k BELOW tax assessed value.
HOA = $2961.95 / Quarterly
HOA Rental Restrictions:
-Minimum Lease is 6 month and 1 day.
There are currently no rules regarding rental of downstairs unit.
Small HOA community with only 19 townhomes. Experiences very few sales due to high desirability.
2 Car Garage.
Seller can leave any and all unwanted items in the property at closing.
