23 Unit Sarasota Multifamily Complex

Multi-Family for Sale
Catylist Listing ID: 30325991
Property Subtypes: Mid-Rise, Other
Number of Units: 23 Units
Building Size (RSF): 14,458 SF
Gross Building Area: See Agent
Sale Price: $2,950,000
Unit Price: $128,260.87 Per Unit
Property Use Type: Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 12/14/2018

Overview / Comments

Sale Price: $2,950,000
• 23 Total Units: Twenty 1BR/1BA units and Three 2BR/1BA units
• Highly Desirable Location: Near Sarasota Memorial Hospital and convenient to
Downtown
• Historically Stable: Strong rental history with a waiting list
• Recent Capital Improvements include the following:
• Most units have new kitchen cabinets with high end laminate countertops
• 10 Air Conditioning Units replaced within the last two year
• Over 75% of the units are below market rents
• Buildings 1, 2, and 3 were completely rehabbed to block walls in 2007/08; lining of all
cast iron pipes in buildings and to street
• Buildings 4 & 5 have new PVC plumbing and main sewer lines
• All buildings have new insulation, trusses and roofs installed to 2008 building code
• Surrounding neighborhood is experiencing significant growth
• Please Note: Adjacent newly built complex may also be available for sale

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,531 87,566 170,351
Median Age: 47.86 46.31 48.38
Households: 5,530 39,779 78,833
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