2720-2750 Hope St - Apartments FOR SALE


Sarasota, FL 34231- South Sarasota
$2,100,000 USD
631-404-6060
2720-2750 Hope St, Sarasota, FL for Sale
$2,100,000 USD
Apartments - FOR SALE
1/8
null | 6.85% Cap Rate

2720-2750 Hope St
Sarasota, FL 34231
South Sarasota


HIGHLIGHTS

  • Attractive light value-add opportunity with significant upside via the potential to convert garages into income-generating storage units.
  • Non-Flood Zone location (Zone X) significantly reducing insurance expenses and ideally located less than 10 minutes from Downtown Sarasota.
  • Rock-solid 1980-87 masonry construction with on-site coin-operated laundry and a large garage area.
  • Interior updates in eight units including new kitchen cabinets, granite countertops, bathroom vanities and showers, and new flooring.
  • Features a distinctive two-bed/ two-bath unit, a former owner's suite, a spacious screened-in lanai, and a generous private backyard.
  • In a prime location just 10 minutes from Siesta Key, recognized as Florida’s #1 best beach and #2 beach in the USA by TripAdvisor's 2024.

OVERVIEW

The Multifamily Firm is pleased to present the Ventura Apartments, a 12-unit apartment complex in Sarasota, Florida, offering a prime investment opportunity in one of the nation’s most sought-after coastal markets. Strategically positioned just 10 minutes from Siesta Key, recently ranked Florida’s #1 Beach and the #2 Beach in the US by Tripadvisor’s 2024 Travelers’ Choice Awards, the property benefits from strong tenant demand and exceptional investment potential. Additionally, its NON-flood zone location (Zone X) significantly reduces insurance costs. This light value-add opportunity presents substantial upside through strategic cosmetic upgrades, implementation of RUBS or utility fees, and the conversion of the oversized garage into income-generating storage units. With its prime location, solid construction, and multiple avenues for value enhancement, Ventura Apartments offers a rare opportunity to capitalize on Sarasota’s thriving rental market and the enduring appeal of Siesta Key. View the offering memorandum for full details and financial information.

FOR SALE DETAILS

PRICE

$2,100,000 USD

PRICE/SF

$263 USD /SF

# OF UNITS

12

PRICE/UNIT

$175,000

CAP RATE

6.85%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Ventura Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1980

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.74 AC

LAND SF

32,234 SF

ZONING

RMF-3

APN/PARCEL ID

0085-01-0013

ASK ABOUT THIS PROPERTY

Phil GinexiThe Multifamily Firm, LLCMore Info
631-404-6060

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Phil GinexiThe Multifamily Firm, LLCMore Info
631-404-6060

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