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Waterfront 8 Unit STR with 6 Boat Slips 2307 Bay Blvd 8 Unit Apartment Building $5,740,453 CAD ($717,557 CAD/Unit) 9.41% Cap Rate Indian Rocks Beach, FL 33785
Investment Highlights
- Short term rental zoning via city of Indian Rocks Beach
- 6 boat slips for additional income potential
- 6 waterfront units with patios with Bay views - 8 units total
Executive Summary
Exceptional opportunity to own a fully renovated waterfront apartment complex in highly sought-after Indian Rocks Beach. Situated on three contiguous lots, this unique property features eight well-appointed units and six deepwater boat slips, creating multiple income streams and offering both immediate revenue potential and long-term upside. Recently renovated in 2026, the property offers a well-balanced unit mix with five 2-bedroom, 1.5-bath units and three 1-bedroom, 1-bath units, appealing to a wide range of renters. Six units—including four 2-bedroom and one 1-bedroom—enjoy beautiful water views with sliding glass doors opening to covered porches and shared outdoor spaces overlooking the bay, while two additional 1-bedroom units are located in a detached front duplex. The property is comprised of three separate buildings arranged around a charming palm-lined courtyard. The waterfront building includes the majority of the units with direct water views and access, while a
third structure provides six covered carports, eight private storage rooms, a common laundry facility, and an EV charging station. Boating enthusiasts will appreciate the on-site marina with six deepwater slips accommodating vessels up to 50 feet, complete with electric (110V/220V), water hookups, and individual dock boxes, with projected boat slip income of approximately $45,000 annually. With approximately 160 feet of water frontage, this property delivers true coastal living. Previously operated as an annual rental, the property presents significant upside through conversion to short-term rentals, as Indian Rocks Beach allows for short-term leasing—making it an ideal opportunity for investors looking to maximize returns or reposition as a boutique hotel or motel concept. Additional highlights include ample guest parking and walkability to the beach, enhancing both tenant and guest appeal. STR AirDNA reports available and proforma info is based on the report. With recent renovations complete, multiple revenue streams, and a prime waterfront location, this is a rare chance to acquire a high-performing, high-upside asset in one of Florida’s most desirable coastal markets. Seller financing available—contact for details.
third structure provides six covered carports, eight private storage rooms, a common laundry facility, and an EV charging station. Boating enthusiasts will appreciate the on-site marina with six deepwater slips accommodating vessels up to 50 feet, complete with electric (110V/220V), water hookups, and individual dock boxes, with projected boat slip income of approximately $45,000 annually. With approximately 160 feet of water frontage, this property delivers true coastal living. Previously operated as an annual rental, the property presents significant upside through conversion to short-term rentals, as Indian Rocks Beach allows for short-term leasing—making it an ideal opportunity for investors looking to maximize returns or reposition as a boutique hotel or motel concept. Additional highlights include ample guest parking and walkability to the beach, enhancing both tenant and guest appeal. STR AirDNA reports available and proforma info is based on the report. With recent renovations complete, multiple revenue streams, and a prime waterfront location, this is a rare chance to acquire a high-performing, high-upside asset in one of Florida’s most desirable coastal markets. Seller financing available—contact for details.
Financial Summary (Pro Forma - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$540,005
|
$90.76
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $540,005 |
| Annual Per SF | $90.76 |
Property Facts
| Price | $5,740,453 CAD | Building Class | C |
| Price Per Unit | $717,557 CAD | Lot Size | 0.44 AC |
| Sale Type | Investment | Building Size | 5,950 SF |
| Cap Rate | 9.41% | Average Occupancy | 97% |
| No. Units | 8 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1969 |
| Property Subtype | Apartment | Parking Ratio | 1.5/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | RM2, County - 0822 Apartments (5-9 units) | ||
| Price | $5,740,453 CAD |
| Price Per Unit | $717,557 CAD |
| Sale Type | Investment |
| Cap Rate | 9.41% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.44 AC |
| Building Size | 5,950 SF |
| Average Occupancy | 97% |
| No. Stories | 1 |
| Year Built | 1969 |
| Parking Ratio | 1.5/1,000 SF |
| Zoning | RM2, County - 0822 Apartments (5-9 units) |
Amenities
Unit Amenities
- Air Conditioning
- Ceiling Fans
- Tile Floors
- Kitchen
- Granite Countertops
- Refrigerator
- Range
- Views
- Patio
Site Amenities
- Courtyard
- Laundry Facilities
- Waterfront
- Storage Space
- Dock
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | - | - |
| 2+1.5 | 5 | - | - |
1 1
Somewhat walkable
30/100
Very drivable
80/100
Limited public transit
30/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 06-30-15-42318-000-0310 | Improvements Assessment | $88,058 CAD (2025) |
| Land Assessment | $2,916,394 CAD (2025) | Total Assessment | $3,004,452 CAD (2025) |
Property Taxes
Parcel Number
06-30-15-42318-000-0310
Land Assessment
$2,916,394 CAD (2025)
Improvements Assessment
$88,058 CAD (2025)
Total Assessment
$3,004,452 CAD (2025)
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Waterfront 8 Unit STR with 6 Boat Slips | 2307 Bay Blvd
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