Acquired in August of 2020, 302 Beach Road was a well-located duplex on Siesta Key, a barrier island near Sarasota, Florida.  The property needed a gut renovation since it has not been updated in more 20 years.  In four short months, the renovations were complete, and the property was immediately leased to snowbirds and short-term renters.    

 

302 Beach Road was acquired for $725,000.  After $200,000 in improvements, including the addition of a roof top deck with Gulf of Mexico views, the project was sold in January 2023 for $1,700,000.  In just 2.5 short years, equity in the investment was tripled.