$699,900
1301 Lotus Drive
Dunedin, FL 34698
Property type
Year built
Lot size
Price / sq ft
HOA dues
Days on market
Flood zone
About this home
This exceptional 4-Plex investment opportunity is located in the heart of Dunedin. It offers immediate income, strong location appeal, and multiple avenues for income growth. The property delivers stable cash flow (7% Cap Rate) with clear potential to enhance returns by optimizing rents to market levels, capitalizing on short-term rental zoning (Airbnb/VRBO), or leveraging an owner-occupant income strategy. Positioned just minutes from downtown, this asset is not located in a flood zone, helping reduce insurance costs and risk. The property offers 2,550 SF (3,280 SF under roof) with a balanced unit mix of (3) 1BR/1BA and (1) 2BR/2BA, each with private entrances, outdoor patio space, and two dedicated parking spaces, features that drive strong tenant demand and short-term rental appeal. The recently renovated 2BR/2BA unit offers flexibility as a flagship short-term rental unit or an ideal owner-occupant residence. Low operating expenses and tenant-reimbursed utilities create an efficient ownership profile, while below-market rents provide a clear path to increased income over time. 4-Point and Wind Mitigation inspections were completed in March, with clean reports available reinforcing the property’s insurability, finance ability, and turnkey investment profile. Located near downtown Dunedin, the Pinellas Trail, waterfront parks, marina, beaches, and a vibrant mix of dining, breweries, and year-round events, the property benefits from consistent demand drivers supporting both long-term and short-term rental performance. This is a rare opportunity to acquire a well-maintained, income-producing asset with built-in upside in one of Tampa Bay’s most desirable coastal submarkets. Opportunities combining in-place income, Short Term Rental flexibility, and non-flood zone positioning in Dunedin are increasingly limited.
Local Insight
At $275/sqft for a 1959 quadruplex, you're looking at an older four-unit building that'll need ongoing maintenance and likely some systems updates, so factor in realistic reserve funds for HVAC, plumbing, and roof work on top of your purchase price. The X flood zone is a genuine advantage here—you'll dodge the insurance premiums that plague most Pinellas properties—but that tight 0.21-acre lot means limited expansion potential and shared outdoor space across four units, which can complicate tenant satisfaction and management. The solid school catchment and Dunedin's walkable downtown proximity are real draws, but run the actual rent comps carefully against the $700k ask to confirm this pencils out as a genuine investment rather than just a dated property in a good location.
AI-generated insight based on listing data and neighborhood context. Verify independently.
Estimated monthly payment
Estimate only. Taxes use the listing's reported amount where available; insurance is a Florida-average estimate. Your actual payment will vary — run a full calculation or talk to a lender.
Price & listing history57 days on market
- Status: ActiveMar 17, 2026
- Listed$749,900Feb 4, 2026
- Price reduced$699,900
Virtual Tour
Facts & features
- Property type
- Residential Income
- Sub type
- Quadruplex
- Status
- Active
- Days on market
- 57
- Subdivision
- Sunny Ridge
- County
- Pinellas
- Year built
- 1959
- Living area
- 2,549 sq ft
- Price/sq ft
- $275
- Building area
- 3,280 sq ft (Public Records)
- Lot size
- 9,357 sq ft
- Lot category
- 0 to less than 1/4
- Flood zone
- X (12103C0069H)
- Annual taxes
- $8,801 (2025)
- Parcel #
- 26-28-15-86976-001-0010
- MLS #
- TB8470910
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Interior Details
- Bedrooms
- 5
- Flooring
- Carpet, Laminate, Linoleum, Luxury Vinyl, Tile
- Appliances
- Range, Refrigerator
- Interior features
- Ceiling Fans(s)
- Laundry
- Laundry Closet, Outside
- Stories / Levels
- One
Heating & Cooling
- Heating
- Baseboard, Electric, Space Heater
- Cooling
- Wall/Window Unit(s)
Parking
- Garage spaces
- 0
- Attached garage
- No
- Parking features
- Assigned, Covered, Guest, Parking Pad
- Carport
- Yes
HOA & Financial
- Total monthly fees
- $0/mo
- Total annual fees
- $0
- CDD
- No
- Min lease term
- No Minimum
- Listing terms
- Cash, Conventional
- Ownership
- Fee Simple
- Available for lease
- Yes
- Lease restrictions
- Yes
- Additional lease restrictions
- PLEASE NOTE: Unconditional Short Term Rentals Permitted / AirBNB & VRBO Friendly Units
Exterior & Construction
- Exterior features
- Fence, Hurricane Shutters, Lighting, Private Entrance, Sliding Doors, Storage
- Construction materials
- Block
- Roof
- Shingle
- Foundation
- Slab
- Road surface
- Paved
Utilities
- Sewer
- Public Sewer
- Water source
- Public
- Utilities
- Cable Connected, Electricity Connected, Sewer Connected, Water Connected
Community
- Pets allowed
- Cats OK, Dogs OK
Schools
Letter grades: Florida DOE 2024–25 school grades (Orange, Seminole, Lake, Osceola, Brevard). Assigned schools from the listing agent — verify enrollment with the district.
Listing Details
- Listing date
- 2026-02-04
- On market date
- 2026-02-04
- Original list price
- $749,900
- MLS area
- 34698 - Dunedin
- Listing AOR
- Suncoast Tampa
- Status changed
- 2026-03-17
- Tax legal description
- SUNNY RIDGE BLK 1, LOT 1
Flood risk
Minimal-risk area outside the mapped floodplain. Flood insurance is optional and typically low-cost.
Source: FEMA flood zone reported on the listing. Confirm current designation at FEMA Flood Map Service Center.
Location
Directions
From Main St, North on Pinehurst, Right on Lotus, SE corner Property on Right
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Listings courtesy of Stellar MLS as distributed by MLS GRID
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Based on information submitted to the MLS GRID as of May 7, 2026 at 10:00 AM ET. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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