Residential Multi Unit Cash Flow Investment

Hospitality for Sale
Catylist Listing ID: 30789472
Property Subtypes: Vacation Rental(s)
Number of Units: 3 Units
Building Size (RSF): 2,773 SF
Gross Building Area: See Agent
Gross Land Area: 16,233 SF
Sale Price: $1,795,000
Unit Price: $598,333.33 Per Unit
Property Use Type: Investment, Business
Sale Terms: Cash to Seller
Cap Rate: 7.0%
Last Updated: 5/5/2022

Overview / Comments

Excellent cash flow investment with established, lucrative rental units providing built-in income? This opportunity might have it all for someone seeking a passive investment with full time management in place or a live/work situation. Historic charm abounds this turnkey furnished property with stone porches, arched doorways, interior cypress paneling, beamed ceilings and a cozy fireplace. Yet, the amenities are updated and modern including stainless appliances, granite countertops and newer fixtures. The current floor plan allows for the owner's two bed, one & a half bath residence including an office, utility and private back yard retreat. There is also a two bed, one bath rental property referred to as "romantic" and "pristine" in customer reviews. This idyllic getaway has access to a private, heated pool and tropical lanai. In addition, you'll find a one bed, one bath "in law" suite also with its own private pool. Each unit is spacious and distinctly separate from the other allowing maximum privacy. There is a 700 sq. ft. garage and shared laundry with a double set of appliances. Few details have been overlooked in this renovated ranch style triplex on a large corner parcel recognized by the City as multi-family that also permits short term weekly rentals. This property is nestled among the city's most significant cultural and educational institutions. Just two miles north of downtown and a short jaunt over the John Ringling Bridge to the beaches of Lido and Longboat Key.

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Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Tax ID/APN: 2005150048
Zoning: RMF-2
Retail Clientele: Family, Traveler, Tourist
Property Visibility: Good
Largest Nearby Street: Tamiami Trail
Feet of Frontage: 142
Airports: Sarasota Bradenton International Airport
Site Description: Completely Developed
Area Description: Mostly residential area.
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Excellent
Year Built: 1945
Year Renovated: 2017
Roof Type: Gable
Construction/Siding: Stucco
Average Occupancy Rate: 98
Water Recreation: Outdoor Pool, Hot Tub
Parking Type: Surface
Laundry: Shared
Heat Type: Electricity
Air Conditioning: Package Unit
Internet Access: Cable
Zoning Description: RSF3
Lot Frontage: 142
Lot Depth: 99.50
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Fee Simple
Legal Description: LOTS 236 237 & 238 BAY HAVEN

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,124 54,252 153,573
Median Age: 40.4 45.25 47.26
Households: 3,499 24,051 69,383

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