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711 Donax ST Sanibel, FL 33957
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Key Details
Sold Price $2,459,000
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Square Footage 3,744 sqft
Price per Sqft $656
MLS Listing ID 224021129
Sold Date 05/03/24
Construction Status Resale
HOA Y/N No
Year Built 1969
Annual Tax Amount $9,895
Tax Year 2023
Lot Size 0.488 Acres
Acres 0.488
Property Description
Welcome to the Driftwood Inn, a boutique gem located in Sanibel Island's Resort Housing district, offering nightly rentals. This is a rare opportunity to acquire one of a few properties with nightly rentals on Sanibel Island. This well-established property is in one of Florida's most coveted beach destinations. Featuring four charming two-bedroom / two-bathroom cottages with full kitchens and screened lanais just seven houses from the beach access. Meticulously maintained, efficiently managed, and conveniently located near restaurants and shops, the Inn provides a perfect balance of island tranquility and accessibility. The Driftwood's Island charm, peaceful grounds, and ideal location make it a top choice for island vacationers. Recent renovations exceeding $600,000 make it a turnkey investment opportunity with reservations already secured. Projections for 2024 forecast a robust gross rental income of $315,000, supported by strong occupancy and loyal repeat guests. The Driftwood Inn offers the perfect combination of rental income and real estate value appreciation, making it a sound investment opportunity in the hospitality market.
Location
State FL
County Lee
Area Si01 - Sanibel Island
Rooms
Bedroom Description NaN
Interior
Fireplace No
Exterior
Utilities Available Electricity Available, Sewer Available, Trash Collection, Water Available
Waterfront Description None
Garage No
Building
Story 1
Construction Status Resale
Others
Senior Community No
Tax ID 30-46-23-T2-00302.0310
Financing Cash
Read Less
Bought with Pfeifer Realty Group LLC