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 |
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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