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$575,000

For Sale - Active
5940 Pelican Bay Plz S Apt 1105, Gulfport, FL 33707
2 Beds
2 Baths
1,476 Square Feet
1.63 Acres Lot
Built in 1983
For Sale - Active
1 Units
Checked: 17 hours ago
Updated: Jul 01, 2025 at 03:42AM

Investment Summary


Potential Missing Expenses

We noticed that HOA fees are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
-$1,245
Cap Rate
3.5%
Cash-on-Cash Return
-11.3%
Debt Coverage Ratio
0.58
Internal Rate of Return (5 years)
-6.9%

Property Description


1.63 Acres Lot
Built in 1983
For Sale - Active
1 Units

BREATHTAKING WATER VIEWS from this elegant 11th-floor corner-end unit in the exclusive, guard-gated Pasadena Yacht & Country Club! Enjoy ultimate privacy and panoramic views of Boca Ciega Bay. This stunning waterfront condo offers the perfect blend of luxury, privacy, and coastal living. Step inside to an open and inviting floor plan, perfect for entertaining. The spacious living room features a contemporary TV wall with ledger stone and wood accents, a bar-height butcher block counter, and floor-to-ceiling windows showcasing stunning water views. The gourmet kitchen is standout, offering solid wood cabinetry, granite countertops, stainless steel Electrolux appliances, and stone backsplash. Enjoy your morning coffee in the cozy breakfast nook or step onto the balcony to take in the view of luxury waterfront estates. The primary suite is a true retreat, featuring his and hers walk-in closets and a spa-like en-suite bathroom with a beautifully remodeled vanity, quartz countertop, and sleek glass faucets. The second bedroom also boasts a walk-in closet, private balcony access, and an adjacent remodeled bathroom. Additional features include: Tile flooring throughout, Recently replaced water heater, In-unit laundry room with ample storage, Private storage unit on the same floor, Assigned parking space in a covered parking and plenty of visitor parking. Rare Membership Opportunity! Buyers in PYCC receive a 30-day priority window to join the exclusive Yacht & Golf Club, skipping the long waitlist, and enjoy world-class amenities, including golf, tennis courts, swimming pool with Tiki bar, wellness center, and fine dining. Various membership options are available (additional fees apply). !! BOATERS TAKE NOTE!! The seller also owns a boat slip in PYCC, available for purchase separately. Schedule your private showing today!

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Location


Property Details


Parking

  • Description: Underground/Basement
  • Details: Assigned, Covered, Guest, Basement, Attached
  • Garage Spaces: 1
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 4
  • # of Stories: 13

Exterior Features

  • Exterior Walls Materials: Concrete
  • Foundation: Slab
  • Roof Material: Concrete

HOA

  • Association: Resource Property Management/Gigi Pelosi
  • Additional Association: Pasadena Yacht & Country Club

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 323116682110021105
  • Lot Size: 71199 sqft

Property Information

  • Property Type: Condominium
  • Style: Contemporary
  • Year Built: 1983

Tax Information

  • Annual Tax: $8,578

Utilities

  • Water & Sewer: Public
  • Heating: Central
  • Cooling: Central Air

Location

  • County: Pinellas

Listing Details


Listed by:
Silviya Nikolova
CHARLES RUTENBERG REALTY INC
(727) 729-1989

Source:
Stellar MLS
MLS#: TB8369107
Stellar MLS

Investment Summary


Potential Missing Expenses

We noticed that HOA fees are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
-$1,245
Cap Rate
3.5%
Cash-on-Cash Return
-11.3%
Debt Coverage Ratio
0.58
Internal Rate of Return (5 years)
-6.9%

Purchase Details

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Purchase price:
$575,000
Amount financed:
-$460,000
Down payment:
$115,000
Closing costs:
$17,250
Rehab costs:
$0
Initial cash invested:
$132,250
Square feet:
1,476
Cost per square foot:
$390
Monthly rent per square foot:
$2.37

Financing Details

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Loan amount:
$460,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$2,945
Property tax:
$715
Insurance:
$245
Private mortgage insurance (PMI):
$0
Monthly payment:
$3,905

Operating Income

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% Rent Monthly Yearly
Gross rent:
$3,500 $42,000
Vacancy loss: (6%)
6% -$210 -$2,520
Operating income:
$3,290 $39,480

Operating Expenses


% Rent Monthly Yearly
Property taxes: (20%)
20%-$715-$8,579
Insurance: (7%)
7%-$245-$2,940
Property management: (8%)
8%-$280-$3,360
Repairs & maintenance: (5%)
5%-$175-$2,100
Capital expenditures: (5%)
5%-$175-$2,100
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (45%)
45%-$1,590-$19,079

Cash Flow


Monthly Yearly
Net operating income:
$1,700 $20,400
Mortgage payments:
-$2,945 -$35,340
Cash flow:
$1,245 $14,940