11 Unit Multifamily with 3 bedroom home onsite

Multi-Family for Sale
Catylist Listing ID: 30775021
Property Subtypes: Low-Rise/Garden
Number of Units: 11 Units
Building Size (RSF): 5,169 SF
Gross Building Area: 6,327 SF
Gross Land Area: 28,926 SF
Sale Price: $1,600,000
Unit Price: $145,454.55 Per Unit
Property Use Type: Investment
Building Name: Laurel Villa Motel
Sale Terms: Cash to Seller
Cap Rate: 6.7%
Average Occupancy Rate: 100
Last Updated: 12/5/2021

Overview / Comments

Located between Venice and Siesta key. This property has a bit of upside potential as owner lives in the 3 bedroom home onsite. Can be used for a manager with additional income potential of $24,000 per year. Large pool and patio area with an additional covered picnic area.

Financials

Finance Data Year 2020
Real Estate Taxes - Annual($) $5,688 (Annual)
Potential Rental Income $144,000 (Annual)
Gross Operating Income $144,000 (Annual)
Net Operating Income $107,648 (Annual)
Actual or Proforma Year Proforma

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Taxing Authority: Sarasota County
Tax ID/APN: 0165050027
Zoning: RMF3
Percent Occupied: 100%
Community Amenities: Outdoor Pool, Tennis Courts, Play Ground
Property Located Between: Laurel Road and 681. The property is just North of Roberts Rd.
Highway Access: Tamiami Trail is directly in front of the property accessed from Roberts Rd. Close to Laurel Rd or 681 for North or South I75 Access
Airports: Sarasota/Bradenton Intl or Ft. Myers Airport
Total Number of Buildings: 3
Property Condition: Good
Number of Stories: 2
Year Built: 1978
Year Renovated: 1985
Roof Type: Gable
Construction/Siding: Block
Parking Type: Surface
Parking Description: Plenty of parking onsite for units and guests
Total Parking Spaces: 20
Laundry: Laundromat Nearby
Air Conditioning: Window Unit
Internet Access: Cable
Water Service: Well
Sewer Type: Septic
Easements: Ingress/Egress
Easements Description: RIGHT OF WAY
Land Ownership: Fee Simple in Trust
Legal Description: Lots 7&8 LESS STATE RD R/W IN OR 1277-682

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,053 24,222 58,775
Median Age: 68.98 61.84 62.62
Households: 639 12,534 30,618
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