Hello! I have a potential airbnb property I am eyeing on and it is located on West King Street. I am looking for some kind of insights from local investors who may be familiar in the area. Is it up and coming neighborhood? Anything I should consider before buy a property?
@Christian Ehlers Nocatee is an awesome planned community between Jacksonville and St.Augustine however they have restrictions against short term renting. For the most part, any neighborhood with a home owner's association is going to restrict short term rentals (not all but most). If you were wanting to invest in STR then I would highly recommend looking at properties close to downtown St.Augustine and the beaches...these are the two areas that bring tourist to the area and it's where they typically want to stay. Another hot spot with a lot of potential will be the west St.Augustine area (just west of downtown). Downtown is maxed out with the only way to expand being west...I'm buying in the area and fully expect it to boom within the next 5 years. Obviously we're in a "shifting market" so just make sure your numbers work and can handle a slight downturn. I'm always available to help if you need anything in the St.Augustine area.
I'm a St.Augustine native. I own a handful of STR in the area and am in the process of building two duplexes in the West King Street area. It used to be a bit rough (still is in certain areas) however it's proximity to our downtown historic district in great. We're the "Nation's Oldest City" so people travel here to be downtown and also close to the beaches. I'm a believer that the West King Street area is the next hot spot. If you'd like to call me I'd be happy to give you a more thorough rundown of the area.
As with any property, it depends on the strategy you want to implement. Do you want a short term rental or do you want a mid term rental? Both have different markets and can be very profitable. For instance, if it's a short term rental, you want to be closer to DT, beach front or maybe on a lake. If you are mid term, you might want to be near hospitals or places of business that perform contract work. Would love to connect and talk real time to explain further!
Real Estate Agent · NH & MA · Member since 2021 · 457 posts · 291 votes
4y
@Kevin Howard i've also heard good things about Nocatee (just north), I've heard there's a lot of development happening and some potential to buy new construction to buy Airbnb. Have you heard anything like this? I own an STR on Jacksonville Beach, but live out of state.
@Christian Ehlers Nocatee is an awesome planned community between Jacksonville and St.Augustine however they have restrictions against short term renting. For the most part, any neighborhood with a home owner's association is going to restrict short term rentals (not all but most). If you were wanting to invest in STR then I would highly recommend looking at properties close to downtown St.Augustine and the beaches...these are the two areas that bring tourist to the area and it's where they typically want to stay. Another hot spot with a lot of potential will be the west St.Augustine area (just west of downtown). Downtown is maxed out with the only way to expand being west...I'm buying in the area and fully expect it to boom within the next 5 years. Obviously we're in a "shifting market" so just make sure your numbers work and can handle a slight downturn. I'm always available to help if you need anything in the St.Augustine area.
Investor · Ponte Vedra · Member since 2017 · 11 posts · 0 votes
2y
Love living in Nocatee and late to post here but there are no STRs and restrictions on some neighborhoods to when you can rent. Great for living and long term appreciation. High rents and well qualified renters. Crosswinds is worth a look.