485 Forest Street Street, Santa Rosa Beach, FL 32459

$2,595,000
6
BD
6
BA
2,891
SqFt
List Price
$2,595,000
Days on Market
9
MLS#
840315
Status
ACTIVE
Type
Single Family Residential
Subtype
Detached Single Family
Bedrooms
6
Bathrooms
6
Full Bathrooms
5
Half Bathrooms
1
Living Area
2,891
Neighborhood
1801 - Hwy 283 to Hwy 395

Property Description

The residential property located in the attractive urban village of Seaside Florida is available to a purchaser seeking an unparalleled flexibility of balance between personal home, vacation rental and investment property. The offering comprises two freestanding two-story timber cottages on one generous-sized lot about 1000-feet setback from the Gulf of Mexico along the popular tourist 30-A corridor in the northwest Florida panhandle. Each cottage has its own access, parking, porches, and interior areas. Each may accommodate the owner's family, with an independent rental party in the adjacent cottage, or may be rented to two unrelated parties, or may be combined as a rental to one extended party. The ''main house'' cottage provides five bedrooms, four and half baths, two screened porches, a soaring ceiling dining room, open plan kitchen, spacious living room with gas log fireplace, two private outdoor showers, two parking spaces, a laundry room and oversized charcoal BBQ. Two bedrooms are fitted with king beds, one bedroom has a special private balcony and queen bed, one bedroom has twin bedding, and the fourth bedroom is configured for children or teenagers with two bunk beds. The house comfortably sleeps twelve. Two of the bedrooms have private baths with walk-in showers, one bedroom has a private half-bath, and the other two bedrooms share a larger bathroom with a tub and additional walk-in shower. The "carriage house" cottage has one bedroom with a queen four-poster bed, adjacent bathroom with walk-in shower and laundry downstairs and a full kitchen, living room and balcony on the second level. The staircase between the two levels is more accessible than most stairs found in carriage houses in the Seaside community. This cottage has dedicated off-street parking, a private entry, screened front porch and a gas BBQ grill. The property was designed by Seaside resident architect Deborah Burke in the mid-1980's and was owned by one family as a holiday rental investment for over 30 years. Ms. Burke was named a recipient of the Seaside Prize in urban architecture in 2018 and is currently the chair of the Yale University School of Architecture and maintains a thriving practice based in New York City. A signature design feature of the main house is Ms. Burke's circular staircase. The property was acquired in 2016 by the current owners, who oversaw significant renovations and upgrades in a year-long project in 2017. While maintaining the conceptual integrity of the original intent, the two houses now have three new heating / air conditioning systems, three new on-demand gas water heaters, a new roof, new underfloor closed-cell foam insulation, new lighting, new bathroom fixtures and new kitchen and laundry appliances. New furnishings and artwork throughout both houses complement the refinished light hardwood floors and soft alabaster painted timber shiplap walls and ceilings. The property is being sold fully furnished. Starting in January 2018, the main house became available for short-term rentals through Seaside's Homeowner's Collection marketing and management agency. Two years of rental history is available, with gross rental bookings for the main house in calendar 2019 amounting to $105,000 despite an atypical slow rental period across the region in early 2019. The current owners lived personally in the carriage house from December 2017 until late Spring 2019, at which time they purchased a second cottage in Seaside. Beginning in May 2019, the carriage house was placed under a rental agency agreement with Homeowner's Collection. Annualized gross rentals for this second unit are $54,000 for the recent period when combining seven months of actual results and five months firm forward bookings. While future rental performance is never a certainty, strong forward bookings, substantially in excess of this time last year, suggest gross rental income combined for calendar year 2020 may exceed $176,344. Some art has changed since photos were taken

Additional Information

Appliances
Cooktop, Dishwasher, Disposal, Dryer, Refrigerator, Refrigerator W/IceMk, Smoke Detector, Stove/Oven Electric, Washer, Wine Refrigerator
Assmt Fee Term
Annually
Association
Emerald Coast
Construction Siding
Foundation On Piling, Frame, Roof Metal, Roof Pitched, Siding Wood, Trim Wood
Design
Beach House
Elementary School
Bay
Energy
AC - 2 or More, AC - Central Elect, Water Heater - Gas, Water Heater - Tnkls
Exterior Features
Balcony, Fenced Lot-Part, Guest Quarters, Porch Screened, Shower
Fees
$3,604
Fees Include
Security, Trash
High School
South Walton
Interior Features
Breakfast Bar, Fireplace Gas, Floor Hardwood, Furnished - All, Kitchen Island, Lock Out, Renovated, Washer/Dryer Hookup, Window Treatment All, Woodwork Painted
Legal Description
Lot 8, Block C Seaside IV
Lot Dimensions
70'x70'
Lot Features
Covenants, Interior, Level, Restrictions, Within 1/2 Mile to Water
Middle School
Seaside
Neighborhood
1801 - Hwy 283 to Hwy 395
Parking Features
See Remarks
Project Facilities
Beach, Deed Access, Exercise Room, Fishing, Pavillion/Gazebo, Pets Allowed, Picnic Area, Playground, Pool, Tennis, TV Cable, Waterfront
Stories
2
Subdivision
Seaside 04
Utilities
Electric, Gas - Natural, Public Sewer, Public Water, Tap Fee Paid, TV Cable, Underground
Year Built
1990
Zoning
County, Resid Single Family

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Seaside Community Realty Inc.