Description

Prime West of the Trail Sarasota four unit income property positioned approximately one half mile from the North Bridge to Siesta Key. Located near Southside Village, Sarasota Memorial Hospital, and downtown Sarasota, this fully occupied multifamily asset offers stable in place income today with future upside potential in one of Sarasota's most desirable coastal adjacent locations.The property includes 2) two bedroom, one bath residences and 2) one bedroom, one bath residences, each with its own lanai. With 2,446 square feet under air and 2,926 total square feet, the building also offers shared laundry, individual storage for each unit, and a generous unassigned, on site parking area.New roof and interior updates to kitchens and baths were completed in 2023. Located in Flood Zone X, the property offers additional appeal for long term ownership. All four units are currently occupied on annual leases, with scheduled gross rental income of $73,380 once pending renewals are executed. Tenants pay electric and cable. City guidance indicates potential vacation rental flexibility may be available, subject to the seven night minimum stay requirement.This property offers the fundamentals investors look for: location, occupancy, recent improvements, and future flexibility. Well suited for an investor seeking a long term Sarasota hold with stable in place income, recent capital improvements, seller financing potential, and future upside through rent growth, repositioning, or approved vacation rental use. Seller financing may be considered for a qualified buyer with acceptable terms.