5 Unit Income Producing Property w/ Upside - Nokomis, FL

Multi-Family for Sale
Catylist Listing ID: 30380192
Property Subtypes: Low-Rise/Garden, Other
Number of Units: 5 Units
Building Size (RSF): 3,541 SF
Gross Building Area: 5,081 SF
Gross Land Area: 40,517 SF
Sale Price: $1,189,000
Unit Price: $237,800 Per Unit
Property Use Type: Investment, Vacant/Owner-User
Building Name: Stacy Keys by the Sea
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Vacation Rental Income: Yes
Last Updated: 2/11/2019

Overview / Comments

Wow! What an amazing opportunity to own this immaculately maintained, very well-managed and ever so popular vacation rental destination in the heart of Nokomis, FL! Situated on almost 1 acre of land and completely fenced in, this private, resort-like paradise offers 5 rentable units including 2 duplexes and 1 stand-alone residence with plenty of upside potential. Excellent NOI based on 4 of the units being rented to vacationers almost year-round, with upside potential to rent out the 5th unit that was previously occupied by the Owners. An additional +/-11,200sf (0.26ac mol) of vacant land opens the door for further expansion and development of another stand-alone residence or possibly a Duplex, driving up earning potential even higher!

The sky is truly the limit with this gem of a property! Let your imagination run wild and utilize this property for a variety of different uses including annual rentals, seasonal rentals or continue operating as-is. Currently, this property is utilized as an Airbnb Vacation destination with everything an Owner would need to continue operating it as such. This place has it all! Features include recently updated/renovated private units that are turn-key finished, a new, heated saltwater community pool, bikes, beach chairs, gas grills and more!

Take advantage of this excellent opportunity to own your own slice of paradise while reaping the benefits of rental income with tons of room for increased cash flow.

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Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Tax ID/APN: 0168160039, 0168160031, 0168160033, 0168160034
Zoning: RMF-1
Community Amenities: Outdoor Pool
Area Description: Located in Nokomis, FL, one of Sarasota County's main destinations for vacationing families and visitors alike, this location provides ample access to Nokomis Beach and Casey Key, literally minutes away. Just a short drive to the world famous Siesta Key Beach, as well as shopping, dining, and entertainment galore! Nicely between Laurel Rd. West and Albee Rd. West. w/ access to US41 and Tamiami Trail.
Total Number of Buildings: 3
Property Condition: Excellent
Number of Stories: 1
Parking Type: Surface
Laundry: In Each Unit
Zoning Description: RMF-1

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,216 28,531 57,183
Median Age: 57.07 61.62 61.31
Households: 1,174 14,855 29,407

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