177 Riberia St
Property Description
Exceptional investment opportunity in the heart of downtown St. Augustine! This fully renovated 4-plex is zoned for nightly rentals, offering tremendous income potential in one of Florida's most sought-after historic destinations. The property features four updated units, including two spacious 2-bedroom, 2-bath units and two well-appointed 1-bedroom, 1-bath units. All units have been renovated and are equipped with newer HVAC systems and propane tankless water heaters, providing modern comfort and efficiency for tenants or guests. Ideally located just steps from popular local destinations including The Ice Plant and St. Augustine Fish Camp, and within easy walking distance of shopping, dining, entertainment, and all the attractions that make downtown St. Augustine a year-round destination. The sale also includes the adjacent parcel at 179 Riberia Street, featuring a large garage/storage building and a multi-unit laundry facility. Continue utilizing the additional storage and laundry amenities, or explore the potential redevelopment opportunity. The site may offer the possibility of removing the existing storage structure and constructing a second 4-plex, potentially doubling your income-producing capacity (buyer to verify all zoning, permitting, and development requirements). The property is currently leased on a long-term basis; however, all leases have transitioned to month-to-month, providing maximum flexibility for an investor seeking to implement a short-term rental strategy or reposition the asset to maximize returns. Whether you're looking for a turnkey income property, a short-term rental portfolio addition, or a future development opportunity, this unique downtown St. Augustine offering checks all the boxes. Contact listing agent to schedule showings. All 4 units are rented so please allow for some time and flexibility as showings will need to be coordinated with all 4 sets of tenants. Showings will begin June 16th.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $1,699,900 |
| No. of Units: | 4 |
| Year Built: | 1926 |
| Opportunity Zone: | No |
| Price per unit: | $424,975 |
| Property Website | Click Here |
| Number of Bedrooms: | 0 |
| Number of Bathrooms: | 0 |
ID: 3yd-SJCBORFL-262794
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