2720-2750 Hope St - Apartments FOR SALE


Sarasota, FL 34231- South Sarasota
$1,995,000 USD
941-444-6160
2720-2750 Hope St, Sarasota, FL for Sale
$1,995,000 USD
Apartments - FOR SALE
1/8
null | Request Cap Rate

2720-2750 Hope St
Sarasota, FL 34231
South Sarasota


HIGHLIGHTS

  • Compelling Blend of In-Place Stability & Future Upside w/ Interior Updates Already Completed in 67% of Units
  • Additional Value-Add Potential Through Strategic Cosmetic Upgrades, Implementation of RUBS / Utility Fees & Garage Conversion to Storage Units
  • Rock-Solid 1980-87 Masonry Construction w/ On-Site Coin-Operated Laundry & Large Garage Area
  • NON-Flood Zone Location (Zone X) Significantly Reducing Insurance Expenses
  • Prime Location Just 10 Minutes from Siesta Key, Consistently Recognized as One of the Top Beaches in the Country
  • Two-Story Building (3-Units) Features Newly Installed Hurricane Windows for Enhanced Storm Protection

OVERVIEW

**View Offering Memorandum at MultifamilyFirm.com for Financial Info & Full Details** The Multifamily Firm is pleased to present the Ventura Apartments, a 12-unit apartment complex in Sarasota, Florida. Built between 1980 and 1987, the property features rock-solid masonry construction, a desirable Non-Flood Zone location in Zone X, and a highly marketable Sarasota setting just 10 minutes from Siesta Key. The asset offers a compelling blend of in-place stability and future upside, with interior updates already completed in 8 units and additional value-add potential through strategic cosmetic upgrades, implementation of RUBS or utility fees, and conversion of the large garage area into income-generating storage units. The units feature attractive layouts with cathedral ceilings, sliding doors to private patios, breakfast nooks, LVP flooring in the living areas, and tile flooring in the kitchens and bathrooms in 7 units. The property also benefits from on-site coin-operated laundry, while the two-story building containing 3 units has newly installed hurricane windows. With strong physical fundamentals, existing interior improvements, and multiple operational upside opportunities, Ventura Apartments offers investors a well-located Sarasota multifamily asset with clear paths to enhance income and long-term value.

FOR SALE DETAILS

PRICE

$1,995,000 USD

PRICE/SF

$250 USD /SF

# OF UNITS

12

PRICE/UNIT

$166,250

CAP RATE

Request Cap Rate

% 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
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 Notice.