4859 Commonwealth Dr - Apartments FOR SALE


Siesta Key, FL 34242
$1,100,000 USD
941-287-7716
4859 Commonwealth Dr, Siesta Key, FL for Sale
$1,100,000 USD
Apartments - FOR SALE
1/1
null | 6.12% Cap Rate

4859 Commonwealth Dr
Siesta Key, FL 34242


HIGHLIGHTS

  • Income-Producing Triplex
  • Premium Siesta Key Location
  • Desirable Coastal Lifestyle with Flexibility
  • Turnkey Investment with Key Upgrades
  • High-Demand Rental Market
  • Large Lot with Redevelopment Potential

OVERVIEW

INCOME-GENERATING TRIPLEX JUST MINUTES FROM WORLD-FAMOUS SIESTA KEY BEACH! Located in the desirable Siesta Beach neighborhood on Siesta Key, this opportunity to own Tangerine Dream offers incredible potential for investors, vacation rental owners, or anyone seeking a coastal lifestyle with income potential. This well-maintained triplex features three individual 1-bedroom, 1-bath units, totaling 2,222 of living square feet on a spacious 13,014 sq ft lot. Constructed in 1950, the property has been thoughtfully updated over the years including; a new roof, all new impact windows, and a new breaker system in 2019. A detached storage shed, provides extra space for storage or beach gear. Perfectly situated just half a mile from the powdery white sands of Siesta Key Beach, consistently ranked America’s #1 Beach. The location is walkable and bike-friendly, with convenient access to Siesta Village’s shopping, dining, and nightlife. Other nearby attractions include Turtle Beach offering endless opportunities for outdoor recreation like kayaking and paddleboarding. Positioned within a golf cart-friendly zone and free from HOA or deed restrictions, this property offers outstanding flexibility and strong short- and long-term rental potential. Whether you're an Airbnb or vacation rental investor seeking prime coastal cash flow, a multifamily buyer planning to live in one unit while renting the others, or a developer with an eye for redevelopment in a high-demand beachside area, this property checks every box. Don’t miss this rare income-producing gem near Siesta Key Beach with limitless potential.

FOR SALE DETAILS

PRICE

$1,100,000 USD

PRICE/SF

$495 USD /SF

# OF UNITS

3

PRICE/UNIT

$366,667

CAP RATE

6.12%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Tangerine Dream

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1950

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,014 SF

ZONING

RSF2

APN/PARCEL ID

0081-02-0038

ASK ABOUT THIS PROPERTY

Isaiah MillerHarry E. Robbins Associates, Inc.More Info
941-287-7716

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Isaiah MillerHarry E. Robbins Associates, Inc.More Info
941-287-7716

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