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485 forest street street

seaside 04

$2,595,000
6 BEDS | 5.5 BATHS | 2891 SQFT

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 fifth 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 LED 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 were projected at $54,000 based on the first seven months of bookings. Following the 90-day interruption to short-term rentals in all of Florida in early 2020, the two cottages now have strong forward bookings, with the rental management agency forecasting combined gross rentals from June 2020 in excess of $175,000 for the next twelve months.

  • Design: Beach House
  • Year Built: 1990
  • Square Footage: 2891
  • Stories: 2
  • Construction: Foundation On Piling, Frame, Roof Metal, Roof Pitched, Siding Wood, Trim Wood
  • MLS#: 840315
  • Appliances: Cooktop, Dishwasher, Disposal, Dryer, Refrigerator, Refrigerator WIceMk, Smoke Detector, StoveOven Electric, Washer, Wine Refrigerator
  • Interior Features: Breakfast Bar, Fireplace Gas, Floor Hardwood, Furnished - All, Kitchen Island, Lock Out, Renovated, WasherDryer Hookup, Window Treatment All, Woodwork Painted
  • Energy: AC - 2 or More, AC - Central Elect, Water Heater - Gas, Water Heater - Tnkls
  • Acreage: 0
  • Lot Dimensions: 70'x70'
  • Lot Access: Paved Road, Private Road
  • Waterfront: N/A
  • Waterview: N/A
  • Parking: See Remarks
  • Utilities: Electric, Gas - Natural, Public Sewer, Public Water, Tap Fee Paid, TV Cable, Underground
  • Subdivision: seaside 04
  • Schools: South Walton, Seaside, Bay
  • HOA Fee: $3,604.00 Annually
  • HOA Includes: Security, Trash
  • Project Facilities: Beach, Deed Access, Exercise Room, Fishing, PavillionGazebo, Pets Allowed, Picnic Area, Playground, Pool, Tennis, TV Cable, Waterfront