1393-1395 40th St - Apartments FOR SALE


Sarasota, FL 34234- North Sarasota
$900,000 USD
833-668-7462
1393-1395 40th St, Sarasota, FL for Sale
$900,000 USD
Apartments - FOR SALE
1/17
null | 7.3% Cap Rate

1393-1395 40th St
Sarasota, FL 34234
North Sarasota


OVERVIEW

Desirable multifamily property with huge upside potential within walking distance of Ringling College. Two buildings on three parcels, one mostly undeveloped. Originally WWII US Army barracks, converted to four charming apartments with vintage vibes in the coveted Bayou Oaks neighborhood north of downtown. Current loss-to-lease is $1,865/ month - simply pushing existing leases to market yields an additional 2.4% ROI - and there is the ability to further increase revenue with modest renovations. One unit is currently rented to a family member at a high discount. The property has lush low-maintenance landscaping and there is a separate structure with laundry equipment. Seller financing available!

FOR SALE DETAILS

PRICE

$900,000 USD

PRICE/SF

$324 USD /SF

# OF UNITS

4

PRICE/UNIT

$225,000

CAP RATE

7.3%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Bayou Oaks Multifamily 4-Plex

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1945

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.36 AC

LAND SF

15,682 SF

ZONING

RSF3

APN/PARCEL ID

0026-12-0094

ASK ABOUT THIS PROPERTY

Jeff CaseySRQ PropertiesMore Info
833-668-7462

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Jeff CaseySRQ PropertiesMore Info
833-668-7462

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.