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521 Drury Lane

PUNTA GORDA, FL 33950

9 beds
7 baths
3,818 sqft
~1/2 acre lot
$340 per sqft
1956 build
– on site

Under contract-accepting backup offers. Have you been seeking a profitable real estate investment opportunity in the extremely popular and trendy city of Punta Gorda? Majestically nestled on a 0.57-acre lot just 3-miles from Downtown Punta Gorda, this 7-unit paradise provides guests an unforgettable experience with delightful onsite amenities and ultra-comfortable accommodations. Boasting a gross revenue of approximately $265,000 in 2023, the property also offers an impressive 12.68% cap rate for those seeking an above-average ROI. Thoughtfully fashioned for the utmost tranquility, the grounds express an organically flowing vibe with gorgeous new tropical landscaping (2022), heated pool (new heater, pumps, filter, and housing-2022/2023), blissful gazebo, hammocks, a meditation area, soothing hot tubs, and several decks. Three buildings encompass 7 rental units, which each have a unique layout and appealing aesthetic. Two units, Guava Bungalow and Papaya Bungalow, each sleep four and include a kitchen, two bedrooms (total 4 twin beds), and a modern full bathroom. Two other units, Orange Bungalow and Coconut Bungalow, both sleep three and have a kitchen, 2+ twin beds/sofa beds, and a full bathroom, while one unit also has a private hot tub and deck. Three units, Avocado Bungalow, Grapefruit Bungalow, and Mango Bungalow, each sleep 2 and feature 2 twin beds (convert to King), a full kitchen, and a chic full bathroom, while one unit also boasts a jetted soaking tub. In addition, the property has a plethora of updates including fresh paint (2022), new deck (2022), new main house roof (2022), new duplex house roof (2022), new Chickee Hut wiring (2022), new flooring (2022), new septic pump/wiring (2022), new fence panels (2022), new window A/C (2022), and new W/D (2023). Residents will appreciate the outstanding proximity to desirable conveniences, such as artistic venues, boutique shopping, world-class dining, and I-75. Get the coveted financial advantage of this rarely-available property, and call now for a tour!

Listing courtesy of STELLAR_MLS / KELLER WILLIAMS SOUTH TAMPA

Last checked: Checking… • Last updated Apr 29, 2024 •

MLS# T3494229 —

The Building

Year Built:

1956
New Construction:

false
Construction Materials:

Block
# of Buildings:

4
Building Area Total:

4616
Roof:

Metal
Foundation Details:

Crawlspace
Patio And Porch Features:

Covered

Interior

Interior Features:

Ceiling Fan(s)
Fireplace:

true

Room Dimensions

Living Area:

3818
Living Area Units:

Square Feet
Living Area Source:

Public Records

Location

Directions:

I-75 South. West on SR 17. Right on Marlympia Way. Right on Marion Ave. Right on Drury Lane.
Latitude:

26.942218
Longitude:

-82.027796
Coordinates:

-82.027796, 26.942218

The Property

Parcel Number:

412305256006
Property Type:

Residential Income
Property Subtype:

Multi Family
Lot Size Acres:

0.57
Lot Size SqFt:

25042
Lot Size Area:

25042
Lot Size Units:

Square Feet
Zoning:

OMI
Exterior Features:

Balcony
Water Source:

Public
Total Acres:

1/2 to less than 1
Road Surface Type:

Asphalt
Flood Zone Code:

AE

Listing Agent

Contact info:

Taxes

Tax Year:

2023
Tax Lot:

7
Tax Block:

1
Tax Book Number:

1-7
Tax Annual Amount:

13431.35
Tax Legal Description:

PPC 000 0001 000K PINEAPPLE CENTRE BLK 1 SUB OF LT 7 ALL OF LT K & LT L THAT PT OF LT J DESC AS BEG NE COR LT J S 10 FT SW 110.18 FT N 41.2 FT E 105.75 FT TO POB 728/1319 728/1325 759/20961037/1069 1737/2073 CT1885/300 2219/1850 CT3975/1583 4010/1913 PPC 000 0000 0

Beds

Bedrooms Total:

9

Baths

Total Baths:

7

The Listing

Virtual Tour URL Branded:

https://www.solsticepg.com/bungalows
Virtual Tour URL Unbranded:

https://www.youtube.com/watch?v=E0ykMivl1p8
Special Listing Conditions:

None
Buyer's Brokerage Compensation:

2%

Heating & Cooling

Heating:

Wall Units / Window Unit
Heating:

true
Cooling:

Mini-Split Unit(s)
Cooling:

true

Utilities

Utilities:

BB/HS Internet Available
Sewer:

Septic Tank

Appliances

Appliances:

Cooktop
Laundry Features:

Common Area

The Community

Subdivision Name:

PINEAPPLE CENTRE
Senior Community:

false
Water View:

false
Water Access:

false
Waterfront:

false
Spa:

true
Spa Features:

Above Ground
Pool Private:

true
Pool Features:

Heated
Association:

false
Ownership:

Fee Simple

Parking

Garage:

false
Carport:

false
Open Parking:

true
Parking Features:

Common

Extra Units

Other Structures:

Storage
# of Units Total:

7

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
4/29/24 Apr 29, 2024	Pending	STELLAR_MLS	$1,300,000
4/3/24 Apr 3, 2024	Price Changed	STELLAR_MLS	$1,300,000	-11.9%
2/10/24 Feb 10, 2024	Price Changed	STELLAR_MLS	$1,475,000	-7.8%

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This multifamily located in Solana, FL 33950 is currently pending sale for $1,300,000. 521 Drury Lane is a 3,818 square foot multifamily with 9 beds and 7 baths that has been on Estately for 122 days. This multifamily is in the attendance area of Punta Gorda Middle School, Charlotte High School, and East Elementary School.

Listing Courtesy of: STELLAR_MLS and KELLER WILLIAMS SOUTH TAMPA.

Based on information from the My Florida Regional MLS DBA Stellar MLS 2024.

All information provided is deemed reliable but is not guaranteed and should be independently verified. Stellar MLS, Estately and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The information on each listing is furnished by the owner and deemed reliable to the best of his/her knowledge, but should be verified by the purchaser. Stellar MLS and Estately assume no responsibility for typographical errors, misprints or misinformation. This property is offered without respect to any protected classes in accordance with the law. For any questions please call (407) 499-8911.

The offer of compensation listed above is made to, and can only be accepted by, participants of the multiple listing service in which this listing is filed.