Description
Under contract-accepting backup offers. Your chance to own a 4 plex just north of downtown Sarasota! This block 4 plex is in fantastic condition with ACs and water heaters updated in 2019 and electrical panels updated in 2014, plus durable vinyl windows. Roof is 2005. MTM rents are currently approximately $1,300/monthwell below the $1,800 median market rent for 2/1 units (per Rentometer), offering immediate income growth potential. Located in the sought-after Missing Middle Overlay district, the property also boasts affordable housing redevelopment opportunities with density increases up to a maximum of 35 units/acre (check with the city for details). Close to top restaurants, shopping, and public transit, this is a rare chance to secure a property with long-term upside. Perfect 1031 exchange candidate. We have access to property managers that can help manage your investment if you want a more hands off property.
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8BEDS
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0.3ACRES
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0BATHS
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01/2 BATHS
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2,880SQFT
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$305$/SQFT
School Ratings & Info
Description
Under contract-accepting backup offers. Your chance to own a 4 plex just north of downtown Sarasota! This block 4 plex is in fantastic condition with ACs and water heaters updated in 2019 and electrical panels updated in 2014, plus durable vinyl windows. Roof is 2005. MTM rents are currently approximately $1,300/monthwell below the $1,800 median market rent for 2/1 units (per Rentometer), offering immediate income growth potential. Located in the sought-after Missing Middle Overlay district, the property also boasts affordable housing redevelopment opportunities with density increases up to a maximum of 35 units/acre (check with the city for details). Close to top restaurants, shopping, and public transit, this is a rare chance to secure a property with long-term upside. Perfect 1031 exchange candidate. We have access to property managers that can help manage your investment if you want a more hands off property.
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