5 Downtown Sarasota Bayfront Condos

Multi-Family for Sale
Catylist Listing ID: 30708767
Property Subtypes: High-Rise
Number of Units: 5 Units
Building Size (RSF): 5,076 SF
Gross Building Area: See Agent
Sale Price: $1,650,000
Unit Price: $330,000 Per Unit
Property Use Type: Investment
Building Name: The 101 Condominiums
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/26/2021

Overview / Comments

Unique opportunity to purchase 5 bayfront condos in the recently renovated The 101 Condominiums. The building has unobstructed views of the Sarasota Bayfront that will never be infringed upon. The 101 Condominiums have gone through a complete interior renovation with a brand new pool recently with plans to modernize the exterior facade. All 5 units have been at least partially renovate. Units are as follows:

5G - 1BR/2BA, 965 SF, Full Bay View
7C - 1BR/2BA, 986 SF, City View
6J - 1BR/2BA, 963 SF, Full Bay View
7J - 1BR/2BA, 963 SF, Full Bay View
10A - 2BR/2BA, 1,200 SF, Partial Bay View

The special assessment to renovate the exterior has been paid in full. Each unit is held in a single entity LLC which are available in the transaction to circumvent the 2-year holding minimum to lease so your Buyer can lease immediately. Potential rent for all 5 units range from $120,000-$150,000 annually.

The 101 Condominiums are essentially a brand new building without the new development prices.

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Tax ID/APN: 0000007481
Community Amenities: Outdoor Pool, Recreation Room, Exercise Room, On-Site Maintenance, Concierge
Total Number of Buildings: 1
Number of Stories: 11
Year Built: 1974
Year Renovated: 2021
Parking Type: Structure
Laundry: In Each Unit

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,847 75,784 155,428
Median Age: 50.18 45.31 48.36
Households: 5,486 33,886 71,795

Contact

Photograph of Listing Agent

Brett Kaplan

OPTIMUS CREIA MFCRE Member
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