9,600 SqFt
9,600 SqFt
Key Details
Property Type Multi-Family, Duplex
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 9,600 sqft
Price per Sqft $341
Subdivision City Park Sub
MLS Listing ID A4710045
HOA Y/N No
Year Built 1967
Annual Tax Amount $3,304
Lot Size 7,405 Sqft
Acres 0.17
Property Sub-Type Duplex
Source Stellar MLS
Property Description
Discover an established income-producing duplex portfolio in Sarasota, Florida 34234. Offered at $3,280,000, this eight-property multifamily investment comprises 16 residential rental units across eight separate tax parcels in Sarasota's Newtown area, near Downtown Sarasota.
THE PORTFOLIO | Eight concrete-block duplex buildings, each containing two 2-bedroom, 1-bathroom residences. Seven properties are clustered along 20th Street in the City Park area, with an additional duplex nearby at 1583 20th Street. The portfolio includes properties at 1583, 1821, 1825, 1841, 1847, 1849, 1853 and 1863 20th Street, Sarasota, FL 34234. All eight properties are offered together as one investment portfolio, not individually.
RENTAL INCOME | Ownership reports 100% occupancy across all 16 units. The current rent roll reflects $230,400 in scheduled annual gross rental income, equivalent to $19,200 monthly and an average of $1,200 per unit. These figures represent scheduled rents rather than independently verified historical collections.
VALUE-ADD POTENTIAL | Existing rental rates offer opportunities to evaluate future rent adjustments, lease renewals and operational improvements. Investment underwriting identifies potential rental growth through market-based repositioning, subject to existing leases, tenant rights, applicable regulations and market conditions. Future income increases are not guaranteed.
PROPERTY FEATURES | Eight separate duplex buildings, 16 two-bedroom residences, individual tax parcels and established residential rental operations. The concentrated location of seven properties may offer operational efficiencies for investors managing multiple rental properties in Sarasota.
LOCATION | Situated near Downtown Sarasota, with convenient access to US-301, US-41, regional employment centers, shopping, dining and Sarasota's Gulf Coast amenities.
THE OPPORTUNITY | A 16-unit Sarasota multifamily investment portfolio for investors evaluating established Florida rental properties, potential long-term income growth and 1031 exchange opportunities.
PACKAGE-ONLY SALE | All eight duplex properties are offered together for $3,280,000. Offering memorandum, current rent roll and investment underwriting available for review. All income, expenses, occupancy, leases, zoning, property conditions and investment projections are subject to independent buyer verification.
Location
State FL
County Sarasota
Community City Park Sub
Area 34234 - Sarasota
Zoning RMF2
Interior
Interior Features Other
Heating Other
Cooling Wall/Window Unit(s)
Fireplace false
Laundry Other
Exterior
Exterior Feature Other
Utilities Available Electricity Connected
View Y/N No
Water Access No
Roof Type Shingle
Garage false
Private Pool No
Building
Foundation Slab
Lot Size Range 1 to less than 2
Sewer Public Sewer
Water Public
Structure Type Block,Concrete
New Construction false
Others
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition None
Virtual Tour https://www.propertypanorama.com/instaview/stellar/A4710045
NEARBY SCHOOL & BUSINESS
7875 NW 57th St # 25497, Tamarac, Florida, 33351, United States