1761 Siesta Dr - Apartments FOR SALE


Sarasota, FL 34239- South Sarasota
$2,480,000 USD
603-767-9166
1761 Siesta Dr, Sarasota, FL for Sale
$2,480,000 USD
Apartments - FOR SALE
1/40
null | Request Cap Rate

1761 Siesta Dr
Sarasota, FL 34239
South Sarasota


HIGHLIGHTS

  • Two Separate Income Producing Buildings with 8-units in City Limits of Siesta Key - 7-day minimum rentals
  • No Flood Insurance Required in X-Zone. Level D Evacuation Zone
  • Remodeled in 2017 with two newer roofs; separate meters; City water and sewer.

OVERVIEW

Exceptional 6-Unit Income Property – Prime Location on Siesta Key! Incredible opportunity to own a fully leased, 6+ unit (ability to make it 8-unit) multifamily property just minutes from world-renowned Siesta Key Beach. This rare income-producing property combines two adjacent triplexes offering a versatile mix of units: (1) 2BR/2BA (Front-Pink, Siesta- able to split as 1/1 and 1/1 Efficiency) (1) 1BR/1BA (Front-Blue, middle Siesta Cottage) (1) 1BR/1BA (Front-Yellow, back/side Siesta Cottage) (2) 1BR/1BA (Back- Blue and Yellow; Wisconsin) (1) Studio 1/1 (efficiency layout; Back-Red, Wisconsin) (1) 3BR/1BA (Back- Pink, Wisconsin) Whether you're an investor seeking strong returns or an owner-occupant looking to offset your housing expenses, this property offers proven income with both long-term tenants and short-term (weekly) rental zoning, maximizing flexibility and potential revenue. Recent updates and features include: Newer roofs (2016 & 2017); All NEW siding, including new cement board siding on one structure; NEW hot water heaters (2021 & newer); New appliances in all units; New A/C units; Outdoor sensor lighting and security cameras; Professionally landscaped grounds with exotic plants and mature trees; NEW exterior PVC plumbing, NEW Fencing and much more! Located in a high-demand area, just blocks from the North Bridge of Siesta Key and walking distance to grocery stores, dining, shopping malls, public transportation, banks, post office, and more. Weekly rentals are permitted, making this an ideal option for Airbnb or seasonal leasing. Level D evacuation zone; No Flood Insurance Required in X-Zone! CITY LIMITS (7-day minimum!). Largest multiplex on siesta- won't last! Parking allows for up to 17 vehicles, even extra space for your outdoor toys- boats, kayaks, jet-skis etc...This is the diamond in the rough for location and income ability with flexibility on SIESTA! This property must be sold in conjunction with adjacent parcel at 1760 Wisconsin Lane, Sarasota, FL 34239 (even if to separate buyers), creating a rare 6-unit investment package with excellent income potential. Please do not visit or walk the property without an appointment. Listing agent must accompany.

FOR SALE DETAILS

PRICE

$2,480,000 USD

PRICE/SF

$1,228 USD /SF

# OF UNITS

7

PRICE/UNIT

$354,286

CAP RATE

Request Cap Rate

% LEASED

82%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

1761 Siesta Dr & 1760 Wisconsin Ln, Sarasota

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1948

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,360 SF

ZONING

RMF2

APN/PARCEL ID

2039-10-0047

ASK ABOUT THIS PROPERTY

Danielle DietrichColdwell Banker RealtyMore Info
603-767-9166

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Danielle DietrichColdwell Banker RealtyMore Info
603-767-9166

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