Auction Property. ***AUCTION LIVE onsite at the property SAT AUG 2nd @ 10 AM. Public welcome to participate. Sold Free and Clear of ALL liens
2 Electric Meters, 2 Water Meters. $55,000+ projected annual revenue/ $46,000 potential net income, with upside for increased returns through value-add improvements or short-term rental conversion.
(SI) EXEMPT: Historic Structure Designation Avoids 50 Rule Restrictions
Power & AC Restored | Prime Tarpon Springs Multi-Unit Income Opportunity
This property qualifies as a historic structure under the National Flood Insurance Program (NFIP) and is exempt from Substantial Improvement (SI) requirements (FEMA 50 Rule)—a key advantage for investors planning renovations or repositioning. Letter and links in attachments.
Located in the high-demand Fruit Bowl neighborhood of Tarpon Springs, this versatile multi-unit property presents a compelling opportunity.
Property Highlights:
• Three income-producing units
o 223 Bath St: 2 Beds | 1 Bath | Washer/Dryer hookup potential
o 225 Bath St: 3 Beds | 1 Bath | Generous layout
o The Hideaway: 1 Bed | 1 Bath | Recently renovated | Private entrance. Non conforming, on meters for 225.
• 2,792 sq. ft. heated | Nearly 3,000 gross sq. ft.
• Three covered carports | Each unit with designated parking
• Offered AS IS, providing flexibility for contractor updates (water impact from prior storm event)
Why Investors Take Notice:
• Historic exemption—no FEMA 50 Rule cap
• Walkable lifestyle appeal in one of Tarpon Springs’ most charming and established neighborhoods
• Strong rental demand and multiple configurations: long-term income or owner-occupant with rental income,
• Utilities operational—power and HVAC have been restored
This property combines location, cash flow potential, and long-term value, making it an ideal fit for investors seeking both immediate returns and future appreciation in the high-demand Fruit Bowl neighborhood in Tarpon Springs.