For Sale
$1,700,000

1236 13Th StSarasota, FL 34236

Turnkey 5plex, prime location, high ROI.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional two-story, 4,402 square foot apartment building, constructed in 1961 and fully renovated in 2022, presents a lucrative investment opportunity in the heart of downtown Sarasota, Florida. The property, situated on a 6,180 square foot lot (APN 2025050018), boasts five units: four one-bedroom, one-bathroom apartments and one larger two-bedroom, 1.5-bathroom unit featuring a den and office. Each unit is fully furnished and turnkey ready, ideal for short-term or annual rentals. The building offers covered parking and on-site laundry facilities. Its prime location provides easy access to restaurants, shopping, the beach, and downtown amenities, including the farmers market, Bayfront Park, Main Street, Publix, and Whole Foods. The property's strong financial performance is reflected in its asking price of $1,700,000 ($340,000 per unit), a pro-forma cap rate of 8.20%, and a pro-forma NOI of $139,473. The permitted zoning is RMF4. This turnkey investment is poised for immediate income generation and significant future appreciation in a rapidly developing area. The building's excellent condition and desirable location make it an attractive option for both owner-occupants and investors seeking a high-return property in a vibrant urban setting.

Highlights

  • Prime Downtown Sarasota location.
  • Short-term or annual rental potential.
  • Five-unit multifamily investment property, ideal for owner-occupancy or full rental.
  • Turnkey condition with significant area development.
  • Unit mix: four 1-bed/1-bath, one 2-bed/1.5-bath with den/office.
  • Convenient proximity to restaurants, shopping, and the beach.

Property Details for 1236 13Th St

Property type
Apartment buildings
Square Feet
4,402 SF
Class
B
Year Built/Renovated
1961/2022
Buildings
1
Stories
2
Units
5

Location Insight

City
Sarasota
County
Sarasota
State
Florida
Latitude
27.349443074709
Longitude
-82.546057445497
1236 13Th St, Sarasota, Florida

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1236 13Th St
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