For Sale
$5,950,000

1256 5Th StSarasota, FL 34236

7-Unit Multifamily, Redevelopment Potential

Overview

Added:
Dec 11, 2024
Days on market:
114
Exceptional investment opportunity in Sarasota, Florida, presents a 7-unit multifamily property comprising three parcels totaling 21,000 square feet. Currently zoned Downtown Edge (DTE), the property is eligible for rezoning to Downtown Core (DTC), unlocking significant redevelopment potential. The existing structures, located at 1256 5th Street and 1259-1271 4th Street, are older and sold as-is. The asking price is $5,950,000, representing $850,000 per unit. This prime location benefits from its proximity to the Blvd Condominiums and Sarasota Modern Hotel, situated within a rapidly evolving neighborhood primed for luxury condominium development. A unique sale leaseback agreement is offered for an initial three-year term, providing a stable income stream post-closing. The property's three parcels include APNs 2026-12-0054, 2026-12-0067, and 2026-12-0068, situated in Sarasota County, Florida, zip code 34236. This presents a compelling opportunity for investors seeking both immediate income and long-term appreciation in a high-growth area. The seller makes no warranty of condition. The leaseback is solely for artist housing.

Highlights

  • Exceptional 7-unit multifamily investment opportunity in Sarasota, FL.
  • Three parcels totaling 21,000 sq ft, currently zoned DTE, eligible for DTC rezoning.
  • Located at 1256 5th Street and 1259-1271 4th Street, Sarasota, FL 34236 (APN: 2026-12-0054, 2026-12-0067, 2026-12-0068).
  • $5,950,000 asking price ($850,000 per unit); "as-is" condition; seller makes no warranty.
  • Prime location near Blvd Condominiums and Sarasota Modern Hotel, in an area slated for luxury condo development; 3-year sale-leaseback agreement provides immediate income stream for artist housing.

Property Details for 1256 5Th St

Property type
Dormitories, Student housing
Buildings
3
Units
7

Location Insight

City
Sarasota
County
Sarasota
State
Florida
Latitude
27.3402732
Longitude
-82.5456585
1256 5Th St, Sarasota, Florida

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1256 5Th St
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