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.
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Contacts
Rex Glasson
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1236 13Th St, Sarasota, Florida, 34236
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
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1236 13Th St
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