151 PELICAN REEF Drive
About This Property
Every aspect of this home has been thoughtfully upgraded. A magnificent heated saltwater pool is enveloped by lush turf, creating an inviting oasis. The newly configured kitchen boasts top-of-the-line new Thermador appliances, including a wall oven and microwave drawer, Fisher & Paykel dishwasher drawers, trash compactor, twin Subzero fridge and freezers, Thermador professional 48-inch gas range. A newly designed expansive coffee bar off the kitchen allows for flexibility & convenience. Freshly painted inside and out an elegant white, the interior exudes sophistication, while the garage has been enhanced with AC, to accommodate an artist's studio and or your prized vehicle.
Ample closet space throughout adds to the home's appeal, a rarity in newer construction. A charming fruit grove, featuring lemons, limes and other fresh fruits, awaits the culinary enthusiast in the chef's dream kitchen. The newly installed shell stone entry impresses with its welcoming aesthetic. Once a hidden gem, this prime location has transformed into a sought-after address, especially after the renowned HGTV Dream Home was constructed on the same prestigious street. Nestled in a gated community along the Intracoastal, the property includes a private dock and an available boat slip to purchase for those who want to achieve the ultimate waterfront living experience. This Arthur Rutenberg home is a masterpiece of design and functionality, now the talk of the neighborhood. The listing also includes upscale furnishings from Restoration Hardware, featuring a stunning and massive RH dining room set, a fully functional living room and family room suite, and a striking glass door RH cabinet for your office. Additional highlights include a rare Holly Hunt chandelier waiting to be installed to complement the existing RH chandelier off the dining room, luxurious bedroom furnishings, and outdoor decor. A home gym adorned with handmade custom wool carpeting, private balcony with views of the bay and an exquisite full bath for the perfect spa-like experience. Complete with a whole-house generator, and central vacuum system, this home offers an unparalleled lifestyle just moments from downtown St. Augustine.
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Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
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Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Dec 30, 2024 | Temporarily off market | - | |
| Temporarily off market | |||
| Dec 4, 2024 | Listed by KELLER WILLIAMS REALTY ATLANTIC PARTNERS ST. AUGUSTINE | $3,750,000 | |
| Listed by KELLER WILLIAMS REALTY ATLANTIC PARTNERS ST. AUGUSTINE | |||
| Oct 1, 2021 | Sold | ||
| Sold | |||
| Jul 4, 2021 | Listed by KELLER WILLIAMS REALTY ATLANTIC PARTNERS ST. AUGUSTINE | $1,450,000 | |
| Listed by KELLER WILLIAMS REALTY ATLANTIC PARTNERS ST. AUGUSTINE | |||
| Nov 23, 2020 | Sold | ||
| Sold | |||
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About St. Augustine
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017