Water Views - Eco Friendly
404 CANAL STREET Tarpon Springs, FL
$ 2,900,000
Property Attributes
  • MLS#U8094446
  • TypeIncome
  • CountyPINELLAS
  • CityTarpon Springs
  • AreaTarpon Springs
  • NeighborhoodCheyneys J K Sub
  • Zip34689
  • StyleQuadruplex
  • Year Built1926
  • Taxes24339
  • Price$ 2,900,000
  • Bedrooms3
  • Full Bathrooms3
  • Half Bathrooms0
  • Sqr Footage14055
  • Lot Size2 Acres
Listing Provided Courtesy Of:
Property Description

WOW!! Calling all INVESTORS, BUILDERS & DEVELOPERS!! Here is your UNIQUE OPPORTUNITY to own 2 Acres in Downtown, Historic Tarpon Springs! 6 Contiguous Properties on over Half of a City Block with Spectacular Views Overlooking Spring Bayou, that will lead you out to the Gulf of Mexico! Within just a Short Walking Distance to The Historic Downtown Tarpon Springs and World Famous Sponge Docks with Amazing Waterfront Restaurants and Shopping, along with Craig Park, which surrounds Spring Bayou and has a Community Boat Launch Ramp! Wet & Dry Boat Storage are also available within Walking Distance. This Total Property Package has Endless Potential ~ Just Given the Current Structures alone, which includes The Historic, First Baptist Church, Built in 1926, that has been Structurally Reengineered and Redesigned into an Exquisite and Amazing Estate Home, Ready to be Completed with your Very Own Finishing Touches! This Property also comes with built in Rental Income from the existing FourPlex, Triplex and 3 Single Family Homes located on the property, all currently leased on a month to month agreement that can be renewed or ready to bring in New Tenants! There is also enough vacant land to build additional Income Properties, which the City of Tarpon has already approved for an additional 7 units! Or if you are the right Buyer/Contractor, you might take advantage of even a greater potential project that could include Total Redevelopment into 17 New Townhomes! Detailed next, are the 6 properties that are included to be sold in this Total Property Package: 1.) 160 Read St. ~ Expansive Single Family Home, divided into Two, Independent Living Spaces. Approximately $850K invested in Near-Complete Redevelopment into Two, High-End Living Spaces. 5 Bedrooms, 5 Full Baths & 2 Half Baths ~ 7,041 sq. ft. Living Space with 3,500 sq. ft. Garage/Workshop on Ground Level that will Accommodate up to 12 Vehicles. Major Redevelopment project completed by current owner in 2014-2016, which utilized SIP's Construction and all Steel Structural Members, the building is Simply Incredible & Essentially Termite-Proof! New Roof in 2016, Pre-wired for Solar Panel Installation and all Bedrooms are Master Bedrooms! Tiltco Premium Hurricane Rated, Triple Pane Windows and Doors are Beautiful and Eliminate ALL external noise and are HUGE Energy Savers! Centrally located Elevator serves both Units and the Former Bell Tower is PERFECT to catch all the Sunrises and Sunsets! 2.) 158 Read St. ~ 1 Bedroom/1 Bath Cottage with Attached Carport. New Kitchen and Bath in 2011 and is 616 sq. ft. 3.) 154 Read St. ~ 1 Bedroom/1 Bath Craftsman Style Home with Attached Carport. Last Updated by Previous Owner around 2005. Bonus Room could be used as a 2nd Bedroom. Heart Pine and Tile flooring throughout and is 780 sq. ft. 4.) 140 Read St. ~ 2 Bedroom/1 Bath Single Family Home with Detached Carport and Workshop. New Tile throughout in 2009 and home has 2 Bonus Rooms, a Screened Lanai and a Fenced-in Back Yard. This home is 1,340 sq. ft. 5.) 404 Canal St. ~ Fourplex ~ Four 1 Bedroom/1 Bath Apartments. 2 of the units have been partially Remodeled and a New Roof was put on within the last 4 Years. This Fourplex is 2,550 sq. ft. 6.) 125 W. Park St. ~ Triplex ~ One 2 Bedroom/1 Bath Apartment and Two 1 Bedroom/1 Bath Apartments. All 3 Units have been remodeled within the last 5 years & New Roof within the last 4 years. This Triplex is 1,728 sq. ft.

Elementary School Middle School High School
Tarpon Springs Elementary-PN Tarpon Springs Middle-PN Tarpon Springs High-PN
Price History
8/18/2020 Listed $3,000,000
10/5/2020 4% - $2,900,000

General Features

Additional Parcels Y/N Yes
Additional Rooms Attic, Bonus Room, Den/Library/Office, Family Room, Inside Utility, Interior In-Law Suite, Loft, Storage Rooms
Appliances Gas Water Heater, Range, Refrigerator
Attached Garage Yes
Construction Materials Block, Stucco
Cooling Central Air
Elementary School Tarpon Springs Elementary-PN
Exterior Features Balcony, French Doors, Rain Gutters, Sidewalk, Sliding Doors
Flooring Other
Garage Spaces 12
Garage Y/N Yes
Heating Central, Electric
High School Tarpon Springs High-PN
Interior Features Cathedral Ceiling(s), Elevator, Kitchen/Family Room Combo, Open Floorplan, Walk-In Closet(s)
Levels Two
MLS Area 34689 - Tarpon Springs
Middle/Junior High School Tarpon Springs Middle-PN
Minimum Lease Period 6 Months
Parking Features Oversized, Under Building, Workshop in Garage
Patio/Porch Features Front Porch, Patio
Property SubType Quadruplex
Property Type Residential Income
Roof Tile
Sewer Public Sewer
Special Listing Conditions None
Status Active
Subdivision Name CHEYNEYS J K SUB
Terms Cash, Conventional
Total Num Buildings 6
Total Units 6
Township 27
Utilities BB/HS Internet Available, Cable Available, Electricity Available, Natural Gas Available, Public, Street Lights, Water Available
View Water
Water Body Name SPRING BAYOU
Year Built 1926

Interior Features

Fireplace Features Gas
Fireplace Y/N Yes
Living Area 14055.00
Unit Count 3

Exterior Features

Foundation Details Slab
Garage Dimensions 21X80
Lot Features Historic District, Near Marina, Oversized Lot, Street Brick
Lot Size Acres 2.00
Lot Size Square Feet 87120
Number of Lots 6
Water View Bayou, Intracoastal Waterway
Water View Y/N Yes


  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 34689

AVG $960K
AVG $8,235
AVG 326
Year Built
AVG 1959
AVG 52
Data Provided by Walkscore ® not using MLS data

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