13388 1ST STREET E,MADEIRA BEACH,Pinellas,Residential Income

Income-Producing Coastal Triplex – One Block from Madeira Beach

Rare opportunity to own a fully renovated, income-producing triplex just one block from the Gulf beaches in desirable Madeira Beach. Two of the three units are currently leased, generating $3,600 per month in rental income, with the third unit available to lease, occupy, or use as a seasonal residence—offering immediate cash flow with additional upside.

The property features two 1-bedroom, 1-bath units and one 2-bedroom, 1-bath unit, making it an ideal investment for seasonal residents, traveling professionals, or those seeking extended beach stays. The area is well suited for 90-day+ seasonal rentals, providing strong demand while minimizing the turnover associated with STR rentals.

Property Highlights

Income-producing property with two leased units generating $3,600/month
Opportunity to lease the third unit and achieve projected rental income of $6,000+ per month ($72,000+ annually)
One block from Madeira Beach
Approximately a 5-minute walk to John’s Pass Village, restaurants, shops, and marina
Multifamily zoning with potential for duplex through quadplex development (buyer to verify all zoning and redevelopment opportunities)
New HVAC systems and water heaters
Updated kitchens, bathrooms, flooring, and fixtures
Turnkey, low-maintenance condition
Located in a high-demand beachside area with excellent long-term appreciation and rental potential

Whether you’re an investor seeking immediate cash flow, a buyer looking to maximize rental income, or a house hacker wanting to live in one unit while the others generate income, this renovated beachside triplex provides a rare combination of location, flexibility, and long-term value.