59 CUNA Street, St Augustine, FL 32084 (MLS# 1249560)

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59 CUNA Street, St Augustine, FL 32084

$1,475,000
Property Type: Residential Income Bedrooms: 5 Baths: 3 Square Footage: 2,042 Lot Size (sq. ft.): 2,178 Status: Active
Current Price: $1,475,000 List Date: 9/25/2023 Last Modified: 9/06/2024

Description

Attention All AVID Airbnb Investors! Come and DOUBLE UP your earnings!! Currently average bookings around 50%-60% and room to hit 75%-100% bookings! Numbers below are after booking & Management Fees. -Just getting started in Sept. 2022 to Dec. 2022 earnings = $24k. -Jan. 2023 to Dec. 2023 earnings = $70k. (3 times more than what was earned in 2022.) -Jan. 2024 to Aug. 2024, earnings = $60k, with bookings through Dec. 2024 estimating an additional $23k. Putting 2024 currently at roughly $83k with more bookings happening daily. (This is 1.185 times more earned than 2023.) -Based on averages we anticipate an additional $7k-$10k of income booked through the end of this year. Putting the annual income close to $95k-$100k.(about 1.428 times more than 2023.) -Future bookings for 2025 are sitting at roughly 11k with about 39 days booked. Increase your bookings to 75% projects $149k annually, and 100% booked at $199k. (Based on averages ran)

Supplements: This pre-1900's (1860s) fully furnished turnkey property is located in the heart of our Nation's First and Oldest cities, St. Augustine's historic district and is truly one of a kind! Spending close to half a million dollars, the owner meticulously, lovingly and carefully restored this property, while maintaining its historic charm. You can own this piece of history with peace of mind that as much attention went into the aesthetic as went into the underlying structural integrity. You aren't just getting a property with some minor updates, you are getting a true internally completed restoration & renovation. The renovation includes all new plumbing, all new electrical, all new appliances, new on demand water heaters, a total scrape, repair and exterior paint job , new interior paint, structural inspection and rejuvenation where needed, no cost was spared, owner had intended on owning for the foreseeable future. The total restoration costs for this historical gem were upwards of half a million dollars. (Check out the docs tab for arch plans and more.) The area of Cuna and Spanish Streets just underwent a lengthy beautification process where we are now just next door to the most lovely walking district in all of downtown, quiet, beautiful and still in the middle of it all. The installation not only focused on the aesthetic but greatly improved the infrastructure with new sewer and water lines, a greatly improved drainage system and beautiful streetings and red brick streets. A great area to own downtown, safe and inviting. Currently an active airbnb with prime access to all of what downtown St. Augustine has to offer! Leave it as an airbnb, perfect for large groups of up to twelve, convert to a long term rental, student housing, pad split, commercial retail business or more! With commercial zoning, your possibilities are only limited by your imagination! This property and its amazing history will live on for years to come, with the recent renovations it will stand for another 170 plus years! Owning such a beautiful relic in your portfolio is certainly something to be proud of and one piece of real estate you will NOT regret owning! Schedule your private tour now!

More Information MLS# 1249560

Contract Information

Current Price: $1,475,000 List Price: $1,475,000 Status: Active Listing Contract Date: 2023-09-25 Property Sub Type: Duplex

Location, Tax, and Legal

Street Number: 59 Street Name: CUNA Street Suffix: Street County: St. Johns State: FL Postal Code: 32084 Parcel Number: 1982000000 Subdivision Name: City Of St Augustine MLS Area Major: 322-Downtown St Augustine Tax Annual Amount: 13208 Tax Year: 2024 Tax Legal Description: CITY OF ST AUG LOT 24 BLK 17 OR5297/250

General Property Information

Number Of Buildings: 1 Number Of Units Total: 2 Bedrooms Total: 5 Bathrooms Total: 3 Bathrooms Full: 2 Bathrooms Half: 1 Living Area: 1628 Living Area Source: Plans Building Area Total: 2042 New Construction YN: No Year Built: 1900 Garage YN: No Carport YN: No Lot Size Acres: 0.05 Lot Size Dimensions: 40x55 CDD Fee YN: No Waterfront YN: No Furnished: Furnished Stories Total: 2 Stories: 2 Directions: I-95 N,Take exit 318 toward St Augustine,Merge onto FL-16 E, Turn right onto US-1 S/N Ponce De Leon Blvd,Turn left onto Carrera St, left onto Cordova St, right onto Cuna St. Parking off Spanish Public Remarks: Attention All AVID Airbnb Investors! Come and DOUBLE UP your earnings!! Currently average bookings around 50%-60% and room to hit 75%-100% bookings! Numbers below are after booking & Management Fees. -Just getting started in Sept. 2022 to Dec. 2022 earnings = $24k. -Jan. 2023 to Dec. 2023 earnings = $70k. (3 times more than what was earned in 2022.) -Jan. 2024 to Aug. 2024, earnings = $60k, with bookings through Dec. 2024 estimating an additional $23k. Putting 2024 currently at roughly $83k with more bookings happening daily. (This is 1.185 times more earned than 2023.) -Based on averages we anticipate an additional $7k-$10k of income booked through the end of this year. Putting the annual income close to $95k-$100k.(about 1.428 times more than 2023.) -Future bookings for 2025 are sitting at roughly 11k with about 39 days booked. Increase your bookings to 75% projects $149k annually, and 100% booked at $199k. (Based on averages ran) List Price/SqFt: 906.02

Status Change Information

Major Change Timestamp: 2024-09-06T18:21:11Z Major Change Type: Price Reduced Price Change Timestamp: 2024-09-06T18:21:11Z

Unit 1 Details

Unit ID: A Actual Rent: 10000 Unit SqFt: 850 Beds Total: 3 Full Baths Total: 2 Furnished: Furnished Unit Remarks: SLEEPS 6

Unit 2 Details

Unit ID: B Actual Rent: 10000 Unit SqFt: 850 Beds Total: 2 Half Baths Total: 1 Furnished: Furnished Unit Remarks: SLEEPS 4

Historical Information

Public Historical Remarks 1: # 1 Bedroom Units: 3, Type-Multi Units: Y, Lot Location-Historic Area: Y, Possible Financing-1031 Exchange: Y, Number of Buildings: 1 Building, Energy Features-Forced Air: Y, Energy Features-Ceiling Fan(s): Y Public Historical Remarks 2: # 2 Bedroom Units: 2, Rent Includes-Furniture: Y Public Historical Remarks 3: Type: Multi Units, Occupant Type: Appointment, Call Listing Agent, Video Surveillance, 24 hour notice, Special Instructions, Restricted Hours

Property Features

Appliances: Dryer; Electric Cooktop; Ice Maker; Microwave; Refrigerator; Washer Cooling: Central Air; Wall/Window Unit(s) Current Use: Commercial; Investment; Mixed Use; Multi-Family; Single Family; Other Flooring: Vinyl Heating: Central; Electric Listing Terms: Cash; Conventional; Private Financing Available; VA Loan Lot Features: Historic Area; Other Owner Pays: Electricity; Hot Water; Sewer; Water Parking Features: Other Pool Features: None Possession: Negotiable Road Surface Type: Asphalt Roof: Shingle Sewer: Public Sewer Smart Home Features: Locks; Refrigerator Utilities: Cable Connected Water Source: Public
Listing Office: SANDBAR REALTY LLC
Last Updated: September - 06 - 2024
Information deemed reliable but not guaranteed.