Attention all Real Estate Investors and Developers! A unique opportunity is available to own an affordable townhome rental complex that includes seven attached units on Scenic 30A in South Walton. The list price of $2,500,000 is less than the cost of many of the homes in Watersound Beach, which is directly across the road. Prices of single-family homes there range from $1,670,000 to $4,465,000 with an average listing at $2,877,688.
The charming Old Florida styled architectural design of these townhomes feature two porches, floor to ceiling windows and identical open floor plans that encompass approximately 1,300 square feet. Each of these two story units includes two bedrooms, one full bath, and one-half bathroom. All of these are currently rented and provide a gross annual income over $100,000. The architectural design takes full visual advantage of its prominent locale since this highly sought after point marks one of the most beautiful stretches of sensational scenery located along Scenic 30A. It sits beside Camp Creek Lake with a large sparkling swimming pool and has over 100 linear feet of deeded water access. This lake was named for the Creek Indians who reportedly camped here 200 years ago due to the abundance of fish. It is a rare Coastal Dune Lake which is a treasure since they are only found in Madagascar, Australia, portions of the Pacific Northwest and here along Scenic 30A. It opens and closes periodically with a creek that crosses over the sugary dune into the gulf. This creates a unique exotic water mixture supporting a huge habitat with a wide array of flora, fauna, and fish. This provides a beautiful, serene place to fish, paddle board, kayak or canoe. This is also a close distance away from the beautiful beach and another coastal dune treasure called Deer Lake State Park, which comprises over 2,000 acres of stunning nature. A raised walkway spans across Scrub Oaks, Magnolias, Coca-Cola colored streams, flowing creeks, and Cypress marshlands all the way to the ancient sugary dunes and beach. It is also minutes away from Rosemary Beach and Seagrove Beach, providing residents with an abundant choice of restaurants, wine bistros, bars, seasonal festivals and shopping venues to choose from.
This property presents a rare opportunity to own a popular rental income producing townhome complex, renovate it for more income or redevelop the one-acre parcel to increase the number of units. As mentioned before, it also comes listed at a great price due to the premium location that commands a much higher real estate value. Contact our Ocean Reef office today at (877) 392-6085. We can provide more details on this unique opportunity and others like it throughout South Walton. This one of a kind opportunity will not last long!