News Summary
Gulfport is experiencing a real estate surge, highlighted by high-value properties like a $3.6 million waterfront estate. This luxurious property features multiple living units, impressive amenities, and significant growth in the region’s market. In addition, multi-family investments near St. Petersburg are attracting attention, reflecting a competitive landscape for buyers. The overall market is rebounding with affordable pricing and quick sales, driven by tourism and local attractions.
Gulfport is witnessing a significant boom in its real estate market, with an array of high-value listings and noteworthy sales. A prime example is a stunning waterfront estate located at 5659-5657 Shore Boulevard S., which is currently listed for an impressive $3.6 million. Built in 2012, this property stands out with three separate living units, a studio, and a generous total of seven bedrooms and seven full bathrooms plus one half-bath.
The main residence boasts three bedrooms and three baths, accompanied by an office and a gourmet kitchen equipped with a gas stove and an extra-large island. Its primary suite is equipped with two dedicated water closets and a custom walk-in closet. Notable features of the home include mahogany floors, vaulted ceilings with exposed beams, and a covered veranda offering picturesque views of Boca Ciega Bay.
In addition to the main house, the second living unit on the property comprises two bedrooms, two baths, and an office, featuring attractive bamboo flooring and a private dumbwaiter. The garage area has an independent bedroom and bath unit, while a separate studio apartment with a laundry area and full bathroom rounds out the estate’s impressive offerings. The property is designed for resilience, with hurricane impact windows, tankless water heaters, multiple HVAC systems, and well water irrigation. With a generous 350 feet of waterfrontage, it is poised to attract buyers looking for luxury and functionality.
The property’s history is also notable; it was purchased back in 2003 for $85,000, representing substantial growth over time.
Multi-Family Investments & Other Notable Listings
In addition, three properties known as the Greenland Apartments—operated by a family for over 40 years—are up for sale near downtown St. Petersburg. The 900 1st Street N. complex features 11 units and is listed for $2.3 million. Furthermore, the adjoining 105 and 115 7th Avenue N. complexes offer a total of 18 units with a combined asking price of $3.7 million. Another complex at 510/500 Bayview Drive NE consists of eight units, though its asking price has not been publicly disclosed.
Beyond Gulfport, a stunning Clearwater Beach home located at 755 Bay Esplanade is on the market for $7.5 million. This expansive 9,112 square-foot home features five bedrooms, five baths, and comes equipped with high-end kitchen appliances, an executive office, and a private in-law suite. Additionally, the Harbor Inn on Main in Safety Harbor is available for $4.99 million, comprising eight apartments and 3,000 square feet of retail space.
In another noteworthy transaction, Infinity Gold Investment Corp purchased two warehouses located at 320 and 340 Scarlet Blvd. in Oldsmar for a total of $4.48 million. Meanwhile, a luxurious estate located at 1755 McCauley Rd. in Clearwater sold for $3 million, just $149,000 below its list price after two months on the market. This stunning property boasted a size of 6,688 square feet and featured extensive luxury finishes.
Market Trends
The Gulfport real estate market is in a state of revival as it rebounds from previous economic downturns, mainly driven by strength in tourism and nearby casino activities. With relatively affordable median home prices around $191,000, the market remains competitive, with homes typically selling within 40 days. This presents a strong incentive for investors, especially those eyeing multi-family units and properties close to casinos, which offer a higher demand for rentals.
Deeper Dive: News & Info About This Topic
HERE Resources
St. Petersburg’s Housing Market Remains Strong Despite Rising Costs
Additional Resources
- The Gabber: April 29 – May 2 Gulfport Real Estate Sales
- Wikipedia: Gulfport, Mississippi
- St. Pete Catalyst: Multi-Home Estate for Sale
- Google Search: Gulfport real estate market trends
- Realty Biz News: Tourism Goldmine Property Payoffs in Gulfport
