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Rivers Rae - 510 W 8th St Unit 1,2,3,4

Carrabelle, FL 32322

8 beds
8 baths
4,672 sqft
10,900 sqft lot
$212 per sqft
1981 build
– on site

Presenting Rivers Rae, a premium multi-unit investment property offering unparalleled potential for both long-term stability and high-income short-term rental returns. Nestled in the quiet, scenic town of Carrabelle on Florida's Forgotten Coast, this completely renovated four-unit townhome building is perfect for savvy investors. With modern upgrades, high rental income potential, and a location that appeals to beach lovers, outdoor enthusiasts, and vacationers, Rivers Rae is an exceptional opportunity for growth. Renovations: all new electric, plumbing, windows, exterior and interior doors, lighting, water heaters, bathrooms, luxury vinyl plank flooring. Newly configured Eat-in-Kitchen with breakfast bar, appliance packages that include dishwasher, stove, microwave and refrigerators with solid surface countertops over clean white cabinetry. Crown molding, recessed lighting, neutral tones, and tall vanities add sophistication and comfort. Inviting backyards with covered patio and privacy fencing. All units are fully furnished and turnkey ready for short term or long-term rentals. Schedule a tour today!

Listing courtesy of RAFGC / Coastal Realty Group-carrabelle

Last checked: Checking… • Last updated Feb 5, 2025 •

MLS# 320794 —

The Building

Year Built:

1981
Building Name:

Rivers Rae
Construction Materials:

Block, Concrete
Structure Type:

Fourplex, Townhouse
Roof:

See Remarks, Shingle
Foundation Details:

Slab, On Grade
Levels:

2
Stories:

2
Exterior Features:

Renovated
Window Features:

Window Treatments, Double Pane Windows, Insulated Windows
Patio And Porch Features:

Covered Patio, Covered Porch, Front Porch

Interior

Interior Features:

Breakfast Bar, Crown Molding, Recessed Lighting, Newly Painted, Renovated, See Remarks, Woodwork Painted
Furnished:

Furnished
Flooring:

Luxury Vinyl, Plank
Fireplace:

false

Room Dimensions

Living Area:

4672
Living Area Units:

Square Feet

Location

Directions:

Hwy 98 Carrabelle turn north on W 8th St. Proceed 4 blocks. Property on Right
Latitude:

29.856643
Longitude:

-84.6717

The Property

Property Type:

Residential
Property Subtype:

Quadruplex,Townhouse,Dup/Tri/Quad (Multi-Unit)
Property Condition:

Renovated, Construction Complete
Property Attached:

true
Zoning:

R-2
Zoning Description:

City,Residential Multi-Family
Lot Features:

Level, Within 1/2 Mile of Water
Lot Size Area:

10900
Lot Size Dimensions:

100 x 109
Lot Size SqFt:

10900
Lot Size Acres:

0.2502
Lot Size Units:

Square Feet
Waterfront:

false
Fencing:

Back Yard, Privacy
Road Surface Type:

Paved
Road Frontage Type:

City Street
Additional Parcels:

false

Listing Agent

Contact info:

Taxes

Tax Legal Description:

BL E R 13 131 LOT 6 & 7 PICKETTS ADDITION OR 111/493 ORB 0163 PAGE 0122 ORB 318/64 632/17 634/458 1278/315

Beds

Bedrooms Total:

8
Master Bedroom Features:

Blinds

Baths

Total Baths:

8
Total Baths:

6
Full Baths:

4
Half Baths:

4

The Listing

Flood Zone:

X
Virtual Tour URL Unbranded:

tour.usamls.net/510-W-8th-St-Carrabelle-FL-32322/unbranded

Heating & Cooling

Heating:

Central Electric, Heat Pump
Heating:

true
Cooling:

true
Cooling:

Central Electric, Heat Pump, Ceiling Fan(s)

Utilities

Utilities:

Cable Available, Electricity Connected, Internet Available, Sewer Connected, Water Connected, Private Trash
Water Source:

Public
Sewer:

Public Sewer

Appliances

Appliances:

Dryer, Washer, Dishwasher, Disposal, Microwave, Refrigerator w/Ice Maker, Electric Oven, Electric Water Heater
Laundry Features:

Washer/Dryer Hookup

The Community

Subdivision Name:

Picketts Add
Association:

false
Pool Private:

false
Pool Features:

None

Parking

Garage:

false
Attached Garage:

false
Carport:

false
Parking Features:

Space/Unit
Parking Total:

8

Monthly cost estimate

Asking price

$995,000

Expense	Monthly cost
Mortgage	$5,327
Taxes	N/A
Insurance	$273
Utilities	$260 See report
Total	$5,860/mo.^*
	^*This is an estimate

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Air Pollution Index

Provided by ClearlyEnergy

Sale history

Date	Event	Source	Price	% Change
2/4/25 Feb 4, 2025	Listed / Active	RAFGC	$995,000

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This townhouse located in Carrabelle, FL 32322 is currently for sale for $995,000. Rivers Rae - 510 W 8th St Unit 1,2,3,4 is a 4,672 square foot townhouse with 8 beds and 8 baths that has been on Estately for 4 days. This townhouse is in the attendance area of Apalachicola Bay Charter School and Franklin County Schools K-12.

Listing Courtesy of: RAFGC and Coastal Realty Group-carrabelle.

Property information provided by the RAFGC MLS – a service of the REALTOR® Association of
Franklin & Gulf Counties. The information provided is 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. All information provided is deemed reliable but is not guaranteed and should be independently verified.