55
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16007 GULF BOULEVARD
About This Property
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What does this mean?
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.
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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 |
|---|---|---|---|
| Jun 18, 2026 | Price Decreased |
$899,900
↓ $200K
(18.2%) | |
| Price Decreased | |||
| May 23, 2026 | Price Decreased |
$1,100,000
↓ $100K
(8.3%) | |
| Price Decreased | |||
| Apr 27, 2026 | Listed by YOUR NEIGHBORHOOD REALTY ASSOC | $1,200,000 | |
| Listed by YOUR NEIGHBORHOOD REALTY ASSOC | |||
| Mar 23, 2026 | Listed by YOUR NEIGHBORHOOD REALTY ASSOC | $1,250,000 | |
| Listed by YOUR NEIGHBORHOOD REALTY ASSOC | |||
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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.
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| Jan 3, 2000 | Sold | ||
| Sold | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017