485 Forest Street St, SANTA ROSA BEACH

$2,595,000

6 Beds
6 Baths
2,891 Sqft
0 Acres
0 Garages

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 screenedporches, 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.

Essential Information
MLS® #840315
Price$2,595,000
Bedrooms6
Bathrooms6.00
Full Baths5
Half Baths1
Square Footage2,891
Acres0.00
Year Built1990
TypeResidential
Sub-TypeDetached Single Family
StyleBeach House
StatusActive
Community Information
Address485 Forest Street St
AreaSouth Walton East
SubdivisionSEASIDE 04
CitySANTA ROSA BEACH
CountyWALTON
StateFL
Zip Code32459
Amenities
ParkingSee Remarks
Has PoolYes
PoolCommunity
Amenities

Beach, Deed Access, Exercise Room, Fishing, Pavillion/Gazebo, Pets Allowed, Picnic Area, Playground, Pool, Tennis, TV Cable Available, Waterfront

Utilities

Electric Available, Gas - Natural, Public Sewer Available, Public Water Available, Tap Fee Paid, TV Cable Available, Underground

Interior
FireplaceYes
FireplacesFireplace Gas
# of Stories2
Interior Features

Breakfast Bar, Fireplace Gas, Floor Hardwood, Furnished - All, Kitchen Island, Lock Out, Renovated, Washer/Dryer Hookup, Window Treatment All, Woodwork Painted

Appliances

Cooktop, Dishwasher, Disposal, Dryer, Refrigerator, Refrigerator W/Ice Maker, Smoke Detector, Stove/Oven Electric, Washer, Wine Refrigerator

Cooling

A/C: Two Or More, A/C: Central Electric

Exterior
ConstructionFrame
FoundationFoundation On Pilings
Exterior

Foundation On Pilings, Frame, Roof Metal, Roof Pitched, Siding Wood, Trim Wood

Exterior Features

Balcony, Fenced Lot-Part, Guest Quarters, Porch Screened, Shower

Lot Description

Covenants, Interior, Level, Restrictions, Within 1/2 Mile Of Water

Roof

Foundation On Pilings, Roof Metal, Roof Pitched

School Information
ElementaryBay
MiddleSeaside
HighSOUTH WALTON
Additional Information
HOA Fees3604.00
HOA Fees Freq.Annually
Zoning

County, Residential Single Family

Listing Details
OfficeSeaside Community Realty Inc
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Listing information last updated on August 13th, 2020 at 6:45pm CDT.