Listing Details for MLS # TB8489780
16007 Gulf Boulevard, Redington Beach, Fl 33708

Residential Property - Single Family Residence in Redington Beach

Listing Price: $1,250,000Days on Market: 5

Description of Property

This .30-acre (13,068 sqft) corner property, situated at the intersection of Gulf Boulevard and 160th Avenue in Redington Beach, presents two distinct investment opportunities. The first involves restoring the property to its original grandeur as a unique, spectacular 1940s home through rebuilding and remodeling. The original custom-designed home featured a wraparound design with a distinctive hexagon-shaped living room. The property's pool is fully functional, and city approval is in place to remodel the home in its current state. Given the area's allowance for short-term vacation rentals, the property could be used for that purpose, as it has 4 parking spaces. Furthermore, the property includes a 16x17 studio attached to the main home with a private entrance. Alternatively, developers may consider removing the existing structure and constructing two new homes, which could be the soundest investment given the newly permitted height allowance of 35 feet above the base flood elevation (BFE). The addition of rooftop decking would provide stunning views of the Gulf sunsets.The average asking price for a 4 bedroom/2 bath single family residence in this Zip code is $879,667. This single family residence is listed at about 142% of the average asking price. This is the only 4 bedroom/2 bath single family residence between $1,000,000 and $1,400,000 currently listed for sale in this Zip code.