UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,132 sqft
Price per Sqft $199
Subdivision Tarpon Spgs Official Map
MLS Listing ID TB8322463
Bedrooms 6
Construction Status Fixer
HOA Y/N No
Year Built 1925
Annual Tax Amount $5,065
Lot Size 8,712 Sqft
Acres 0.2
Lot Dimensions 60x143
Property Sub-Type Triplex
Source Stellar MLS
Property Description
Power & AC Restored | Prime Tarpon Springs Multi-Unit Income Opportunity
This property qualifies as a historic structure under the National Flood Insurance Program (NFIP) and is exempt from Substantial Improvement (SI) requirements (FEMA 50% Rule)—a key advantage for investors planning renovations or repositioning. Letter and links in attachments.
Located in the high-demand Fruit Bowl neighborhood of Tarpon Springs, this versatile multi-unit property presents a compelling opportunity with $55,000+ projected annual revenue and $20,000+ in net income, with upside for increased returns through value-add improvements or short-term rental conversion.
Property Highlights:
• Three income-producing units
o 223 Bath St: 2 Beds | 1 Bath | Washer/Dryer hookup potential
o 225 Bath St: 3 Beds | 1 Bath | Generous layout
o The Hideaway: 1 Bed | 1 Bath | Recently renovated | Private entrance
• 2,153 sq. ft. heated | Nearly 3,000 gross sq. ft.
• Three covered carports | Each unit with designated parking
• Offered AS IS, providing flexibility for contractor updates (water impact from prior storm event)
Why Investors Take Notice:
• Historic exemption—no FEMA 50% Rule cap
• Walkable lifestyle appeal in one of Tarpon Springs' most charming and established neighborhoods
• Strong rental demand and multiple configurations: long-term income or owner-occupant with rental income,
• Utilities operational—power and HVAC have been restored
This property combines location, cash flow potential, and long-term value, making it an ideal fit for investors seeking both immediate returns and future appreciation in the high-demand Fruit Bowl neighborhood in Tarpon Springs.
Location
State FL
County Pinellas
Community Tarpon Spgs Official Map
Area 34689 - Tarpon Springs
Zoning R-60
Interior
Interior Features Ninguno
Heating Central
Cooling Central Air
Furnishings Unfurnished
Fireplace false
Laundry None
Exterior
Exterior Feature Sidewalk
Utilities Available Cable Available, Cable Connected, Electricity Available, Electricity Connected, Sewer Available, Sewer Connected, Water Available, Water Connected
Roof Type Metal
Garage false
Private Pool No
Building
Lot Description Flood Insurance Required, City Limits, Sidewalk, Paved
Entry Level Two
Foundation Other
Lot Size Range 0 to less than 1/4
Sewer Public Sewer
Water Public
Structure Type Brick
New Construction false
Construction Status Fixer
Schools
Elementary Schools Tarpon Springs Elementary-Pn
Middle Schools Tarpon Springs Middle-Pn
High Schools Tarpon Springs High-Pn
Others
Pets Allowed Yes
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition None
Virtual Tour https://www.zillow.com/view-imx/dafd5734-2437-4e51-b626-28a7a5735deb?initialViewType=pano&utm_source=dashboard
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Edward Peterson
Team Leader / Realtor/ Listing Specialist | License ID: SL3463440
Team Leader / Realtor/ Listing Specialist License ID: SL3463440