1630 Redwood St - Apartments FOR SALE


Sarasota, FL 34231- South Sarasota
$1,100,000 USD
941-444-6160
1630 Redwood St, Sarasota, FL for Sale
$1,100,000 USD
Apartments - FOR SALE
1/6
null | 5.06% Cap Rate

1630 Redwood St
Sarasota, FL 34231
South Sarasota


HIGHLIGHTS

  • Exceptional Value-Add Opportunity w/ Significant Upside Potential
  • Consists of 6 Units in 3 Rock-Solid Masonry Buildings on 1 Parcel Totaling 0.37 Acres
  • All Two-Bedroom Units Separately Metered for Water & Electric w/ Tenants Paying Direct to Utility Provider
  • Half Mile Walk to Public Beach Access 12 w/ Connected to Siesta Key Beach
  • 2-Minute Walk from the Highly Anticipated Siesta Promenade, a 24-Acre Mixed-Use Development by Benderson
  • Prominently Located “West of the Trail” (US-41) w/ Favorable RMF-4 Zoning

OVERVIEW

The Multifamily Firm is pleased to present the Siesta Bay Villas, a prime value-add opportunity just a short walk to Siesta Key Beach and steps from the new Siesta Promenade. The property features 6 units across 3 solid masonry buildings with a strong unit mix of two-bedroom and one-bedroom apartments, separately metered utilities, and on-site laundry. With favorable RMF-4 zoning and significant upside potential, this asset offers investors a rare chance to own in one of Sarasota’s most desirable coastal markets.

FOR SALE DETAILS

PRICE

$1,100,000 USD

PRICE/SF

$201 USD /SF

# OF UNITS

6

PRICE/UNIT

$183,333

CAP RATE

5.06%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Siesta Bay Villas

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1978

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.38 AC

LAND SF

16,553 SF

ZONING

RMF-4 County

APN/PARCEL ID

0104-13-0017

ASK ABOUT THIS PROPERTY

Phil GinexiThe Multifamily Firm, LLCMore Info
941-444-6160

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Phil GinexiThe Multifamily Firm, LLCMore Info
941-444-6160

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