About this property

Rare beach-side find! $143k existing annual income with TWO beautiful homes, TWO pools & FOUR additional potential lots on nearly ONE acre of land. This income-producing, high-potential property sits right on S. 11th Street near Anchor Dr on 0.91 acres of land. The setup includes two adjacent 0.455-acre tracts (each 19,869 SF) each with its own beautifully update, top-performing short term rental home PLUS engineered plans & space to add 4 more residential condo lots. 2016 S 11th, aka 'Palm House' is a 4 bdrm, 3 bath beauty. This fully furnished 3-story home features an AC game room, private pool & Gulf peeks from the top deck & brought in $83,132 in rental income in 2024. Right next door, 2022 S 11th aka 'Agave House' is an equally cute & updated 3 bdrm, 2 bath home with its own pool & easy potential to become a 4 bdrm. It grossed $60,286 in 2024. That’s over $143K in built-in income already flowing. And it gets better: sellers have fully engineered plans to replat the land into SIX total condo lots—two at 7308 SF, two at 7272 SF (with existing homes) & two at 5288 SF. The replat is straightforward, expected to cost under $600 & wrap up in about 60 days - ready for a buyer to submit. No HOA means flexibility for dividing, building, holding or flipping plus BUILT IN income so you can develop on your own timeline. Zoned TR-1 for short-term rentals to keep the cash flow coming. Ask about floor plans for new 6-bdrm homes designed to maximize rental income on the 4 new lots. Whether you're looking to expand a rental portfolio, develop & sell off lots, or create a mini compound, this one's loaded with potential. Golf cart a couple blocks to the beach or nearby shopping & dining. Opportunities like this are almost never available—seriously, don’t miss THIS boat!