Ad #7316868
MLS #263419
**Historic Downtown St. Augustine Turnkey Investment
16 Mulvey St, St Augustine, Florida, 32084
$1,740,000
--Beds
--Baths
--Sqft
--Acres
About this property
**Historic Downtown St. Augustine Turnkey Investment Opportunity** Rare opportunity to own a premier income-producing property in the heart of Downtown St. Augustine's Historic Entertainment District. This beautifully maintained five-unit multifamily property is currently operating as a highly successful short-term rental with a proven track record, generating $313,000 in gross revenue over the past year. The property has outpaced most of the competition in revenue growth with last year representing a 22% increase over the past 4 years. The property consists of four spacious one-bedroom, one-bath apartments and one efficiency apartment, offering an ideal mix of accommodations for visitors seeking the charm and convenience of the Nation's Oldest City. Whether you're an experienced investor or looking to enter the thriving vacation rental market, this turnkey opportunity is ready to continue producing exceptional returns. Major capital improvements have already been completed, including a newer roof, updated electrical and plumbing systems, and a current termite bond, providing peace of mind for years to come. Situated on a rare double lot, the property features a beautifully landscaped backyard retreat that sets it apart from the competition. Guests can enjoy their morning coffee surrounded by mature landscaping and birdsong or unwind after a day exploring the city in this peaceful outdoor oasis. The location is simply unbeatable-just steps from St. Augustine's renowned restaurants, shops, galleries, live music, museums, and historic attractions, while only minutes from the area's beautiful beaches. This is the perfect combination of historic charm, walkability, and coastal living. This is more than a property-it's an opportunity to own a thriving hospitality business in one of Florida's most iconic and desirable destinations. **Attractive Financing Potential** The property's strong operating history may make it an outstanding candidate for a Debt Service Coverage Ratio (DSCR) loan, allowing qualified buyers to potentially qualify based primarily on the property's income rather than personal income. Based on the property's proven performance, a qualified buyer with strong credit, a 25% down payment, and an interest rate in the 7% range could potentially achieve a Debt Service Coverage Ratio exceeding 1.70 while realizing an estimated cash-on-cash return of more than 30%. Actual financing terms and investment returns will vary based on lender requirements, operating expenses, and borrower qualifications. For a personalized financing analysis and to learn more about available business-purpose loan products, contact our preferred lender Gary Field, who can provide customized loan scenarios and help you identify the financing solution best suited to your investment objectives. Gary Field NMLS 2738702 NewFed Mortgage Corp. NMLS 1881
Property Features
0 Beds
0 Baths
0 Sqft
Built in 1890
0 Acres
Central, Electric (Heating)
$11,751 / yr property tax
Saint Johns County
Model Land Co-Fl Community
Additional Photos
Contact Information
Ian Hyde
Century 21, St. Augustine Properties, Inc.
520-907-7876
Location
Listing Agent: Ian Hyde 520-907-7876
Broker: Century 21, St. Augustine Properties, Inc. 904-797-6000 Listing Site
Copyright © 2026 St. Augustine & St. John's County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Broker: Century 21, St. Augustine Properties, Inc. 904-797-6000 Listing Site
Copyright © 2026 St. Augustine & St. John's County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
BeachHouse.com
Printed Jul 27, 2026
Photo Gallery
$1,740,000
--
Beds
--
Baths
--
Sqft
16 Mulvey St, St Augustine, Florida, 32084
By contacting this agent you agree to these Terms and Conditions.
MLS# 263419
**Historic Downtown St. Augustine Turnkey Investment
$1,740,000
16 Mulvey St, St Augustine, Florida, 32084
--
Beds
--
Baths
--
Sqft
--
Acres
$1,740,000
16 Mulvey St, St Augustine, Florida, 32084
-- Beds
-- Baths
-- Sqft
-- Acres
**Historic Downtown St. Augustine Turnkey Investment Opportunity** Rare opportunity to own a premier income-producing property in the heart of Downtown St. Augustine's Historic Entertainment District. This beautifully maintained five-unit multifamily property is currently operating as a highly successful short-term rental with a proven track record, generating $313,000 in gross revenue over the past year. The property has outpaced most of the competition in revenue growth with last year representing a 22% increase over the past 4 years. The property consists of four spacious one-bedroom, one-bath apartments and one efficiency apartment, offering an ideal mix of accommodations for visitors seeking the charm and convenience of the Nation's Oldest City. Whether you're an experienced investor or looking to enter the thriving vacation rental market, this turnkey opportunity is ready to continue producing exceptional returns. Major capital improvements have already been completed, including a newer roof, updated electrical and plumbing systems, and a current termite bond, providing peace of mind for years to come. Situated on a rare double lot, the property features a beautifully landscaped backyard retreat that sets it apart from the competition. Guests can enjoy their morning coffee surrounded by mature landscaping and birdsong or unwind after a day exploring the city in this peaceful outdoor oasis. The location is simply unbeatable-just steps from St. Augustine's renowned restaurants, shops, galleries, live music, museums, and historic attractions, while only minutes from the area's beautiful beaches. This is the perfect combination of historic charm, walkability, and coastal living. This is more than a property-it's an opportunity to own a thriving hospitality business in one of Florida's most iconic and desirable destinations. **Attractive Financing Potential** The property's strong operating history may make it an outstanding candidate for a Debt Service Coverage Ratio (DSCR) loan, allowing qualified buyers to potentially qualify based primarily on the property's income rather than personal income. Based on the property's proven performance, a qualified buyer with strong credit, a 25% down payment, and an interest rate in the 7% range could potentially achieve a Debt Service Coverage Ratio exceeding 1.70 while realizing an estimated cash-on-cash return of more than 30%. Actual financing terms and investment returns will vary based on lender requirements, operating expenses, and borrower qualifications. For a personalized financing analysis and to learn more about available business-purpose loan products, contact our preferred lender Gary Field, who can provide customized loan scenarios and help you identify the financing solution best suited to your investment objectives. Gary Field NMLS 2738702 NewFed Mortgage Corp. NMLS 1881
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Property Details
HOME DETAILS
0 Beds
0 Baths
0 Sqft
Built in 1890
0 Acres
INTERIOR
Central, Electric (Heating)
FINANCIAL & COMMUNITY
$11,751 / yr property tax
Saint Johns County
Model Land Co-Fl Community
See More Details
Location
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Ad Statistics
Ad Number
7316868
Viewed
3 times
Listing Status
Active
Added
Jul 27, 2026
Last Refresh
Jul 27, 2026 11:07:46 AM
Listing Information
Data Source
St. Augustine & St. John's County Board of Realtors
Source Property ID
263419
Listing Agent: Ian Hyde 520-907-7876
Broker: Century 21, St. Augustine Properties, Inc. 904-797-6000 Listing Site
Copyright © 2026 St. Augustine & St. John's County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Broker: Century 21, St. Augustine Properties, Inc. 904-797-6000 Listing Site
Copyright © 2026 St. Augustine & St. John's County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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