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… Read More 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. Read Less
Courtesy of COMPASS FLORIDA LLC 727-339-7902
Listing Snapshot
Days Online
1
Last Updated
Property Type
Triplex
Beds
3
Square Ft.
1,816
Lot Size
0.13 Acres
Year Built
1950
MLS Number
TB8471888
Additional Details
Property Access
Road Surface: Asphalt
Appliances & Equipment
Other equipment: Private Entrance
Building
Built in 1950, Living area: 1816, Living area units: Square Feet, Construction Materials: Frame
Cooling
Central Air, Wall/Window Unit(s)
Exterior Features
Lighting, Private Entrance
Foundation
Slab
Heating
Central, Electric, Ductless
Income
Gross Income: $68,400
Interior Features
Ceiling Fans(s)
Lot
0.13 acres, Dimensions: 54x107
Parking
1 carport space
Roof
Shingle
Sewer
Public Sewer
Taxes
Additional parcels description:, Parcel Number: 28-31-16-67338-003-0100, Public Survey Range: 16, Public Survey Section: 28, Annual Amount: $5,870.69, Tax Block: 3, Tax Book Number: 6-96, Legal Description: PASADENA GARDENS GULFVIEW SEC BLK 3, LOT 10, Lot: 10, Year: 2024
Utilities
Cable Connected, Electricity Connected, Public, Sewer Connected, Water Connected, Water Source: Public
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