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4851 W Gandy Blvd # B1L24 Tampa, Florida 33611 MLS# MFRTB8356545
Welcome to Regency Cove, a peaceful, gated 55+ community nestled along the serene waters of the Bay in the heart of South Tampa. This highly sought-after neighborhood offers the best of both worlds—quiet living with easy access to everything you need. Conveniently located, you’ll be just a short drive from major expressways, the beaches, the airport, and the vibrant downtown area, providing an ideal balance between a tranquil retreat and access to the excitement of the city. Regency Cove is much more than just a place to live; it’s a lifestyle. The community is meticulously maintained, offering a variety of amenities designed to enhance your quality of life. Whether you're looking to stay active, relax, or socialize, you'll find something for everyone here. The heated pool is perfect for year-round swimming and relaxing under the sun, while the pavilions provide ideal spots for gathering with friends and neighbors, enjoying outdoor meals, or simply soaking in the peaceful surroundings. For water enthusiasts, the kayak launch offers easy access to the Bay, perfect for kayaking, fishing, or enjoying nature. Additionally, residents enjoy the fun and social atmosphere provided by the shuffleboard court. Staying fit and healthy is easy with access to a fully equipped gym and a variety of fitness classes for all levels. The community also offers RV and boat parking, a rare and valuable amenity that makes it perfect for those who enjoy traveling or spending time on the water. Beyond these amenities, Regency Cove hosts a variety of organized events and social clubs, offering ample opportunities for residents to get involved and build lasting friendships with the wonderful, friendly community. One of the standout features of this community is that it operates as a resident-owned cooperative, meaning there are no lot rental fees. This unique arrangement provides financial stability and autonomy to homeowners. As part of the cooperative, you not only own your home but also share ownership in the entire community, ensuring that decisions are made collectively by the residents. This fosters a strong sense of community and helps keep living costs lower compared to traditional rental-based neighborhoods. This home offers an excellent value-add investment opportunity. Priced substantially below market value, it presents a perfect chance to purchase a property in a highly desirable community and add significant value through renovation. The property has some deferred maintenance—the primary challenge here—but that also means there’s incredible potential for the savvy buyer who’s willing to roll up their sleeves and update the home. The home could benefit from modernizing various aspects, including new flooring, a fresh coat of paint, and an updated kitchen with new cabinets, appliances, and countertops. Windows could be replaced to improve energy efficiency, and a new roof would address exterior needs while providing peace of mind. While the home did experience minimal water intrusion during Hurricane Milton, the property itself has held up well. Once renovated, homes of similar square footage in this community are selling for twice the current listing price, making this a high-return investment opportunity. Whether you’re looking to make this your primary residence or use it as a rental property, you could see a significant return once the updates are completed.
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