Property Type:
Residential Income
Bedrooms:
99
Baths:
162
Square Footage:
100,339
Status:
Closed
Current Price:
$10,550,000
List Date:
8/29/2018
Last Modified:
1/16/2025
Overview
Description
Extraordinary opportunity on the St Johns River next to Club Continental. Consists of 60 of the 76 condominiums at Villas Continental and Yacht Club plus two 12 unit waterfront apartment buildings. The property is nestled among century old oak trees with stunning views of the St Johns River. Approximately 7.5 acres of land with 720 feet of waterfront. Current amenities include private boat ramp and fitness center plus the option for residents to join Club Continental with easy access to pool, tennis, restaurant and bar. Turn-key income producer with stable current tenant base, below market rents allowing for immediate upside, city water and sewer service and onsite sales/leasing office. The development possibilities of this property are endless. Actual bedroom count is 197.
Supplements:
With only 16 individually owned condos, it affords the new owner a realistic opportunity to acquire the whole development. Thus, allowing maximum flexibility and significantly increasing the value of the asset. Property previously had a 30-slip marina in the protected yacht basin that new owners may be able to rebuild.
