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.

Attachments & Media

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

View FullscreenMap

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


© Copyright 2001-2022 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither My Florida Commercial Real Estate nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.