Gulfgate Palms

Multi-Family for Sale
Catylist Listing ID: 30353436
Property Subtypes: Low-Rise/Garden
Number of Units: 6 Units
Building Size (RSF): 4,511 SF
Gross Building Area: 4,530 SF
Gross Land Area: 15,278 SF
Sale Price: $799,000
Unit Price: $133,166.67 Per Unit
Building Name: Gulfgate Palms
Usable Size (USF): 4,511 SF
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: 6.0%
Average Occupancy Rate: 100
Last Updated: 11/21/2018

Overview / Comments

Gulfgate Palms Condominiums is a 6-unit complex located one block from Gulfgate shopping district and walking distance to the proposed Siesta Promenade. Solid masonry construction with a new roof in 2011, updated units with tile flooring, granite counters, and quality cabinetry.

Well maintained and fully rented. Each unit has central A/C and an assigned covered parking space with ample additional parking. Common laundry facility with coin operated washer and dryer, for extra income.

Financials

Finance Data Year 2018
Real Estate Taxes - Annual($) $7,125 (Annual)
Tax Value Land $0
Tax Value Improvements $443,100
Tax Value Personal Property $0
Assessed Value - Total($) $443,100 (Annual)
Potential Rental Income $69,600 (Annual)

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Taxing Authority: Sarasota County
Tax ID/APN: 0103161001
Zoning: RMF2
Percent Occupied: 100%
Community Amenities: Restaurant(s)
Property Located Between: Clark and Gulf Gate
Highway Access: 4.5 Miles to I-75
Airports: 11 miles to Sarasota Airport
Site Description: Well maintained masonry construction. With newer windows and roof. Minimal landscape to maintain.
Area Description: Popular Gulfgate area. Walking distance to restaurants, grocery stores, and heath stores.
Total Number of Buildings: 1
Property Condition: Good
Number of Stories: 1
Year Built: 1966
Year Renovated: 2008
Roof Type: Hip
Construction/Siding: Block
Parking Type: Other
Parking Description: 6 covered parking spaces, and additional uncovered
Total Parking Spaces: 10
Laundry: Shared
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Fuel: Electric
Air Conditioning: Other
Internet Access: Cable
Interior Description: Tiled throughout. Granite counters.
Zoning Description: RMF2
Lot Frontage: 106.82
Lot Depth: 133.5
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Fee simple - Condo
Legal Description: Units A, B, C, D, E, and F, GULFGATE PALMS, a Condominium, according to the Declaration of Condominium thereof, as recorded in Instrument No. 2007189098, and any amendments thereto, and Condominium Book 41, Page 26, Public Records of Sarsaota County, Florida; together with an undivided interest in the common elements as set forth in the Declaration as amended

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,529 70,495 135,593
Median Age: 52.09 52.44 51.78
Households: 6,518 34,770 64,549

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