For Sale
$8,500,000

1160 Four Seasons CirSarasota, FL 34234

80-unit senior living community, high occupancy.

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional 80-unit senior living apartment complex, Bayou Oaks Apartments, presents a compelling investment opportunity. Located at 1160 Four Seasons Circle, Sarasota, FL 34234, this property boasts 83,235 square feet of residential space situated on approximately 8.13 acres. Built in 2000, the complex currently enjoys a 96.3% occupancy rate. The average unit size is approximately 800 square feet. Offered at $8,500,000, this represents a price per unit of $106,250 and a 6.80% capitalization rate. Bayou Oaks is designated as LIHTC Senior Housing. The property benefits from its location in Sarasota, Florida, a region experiencing significant growth in its senior population, exceeding national averages. This robust demographic trend supports strong demand for senior living accommodations. Furthermore, rising median household incomes in the area contribute to potential rent growth, enhancing the property's long-term financial performance. The property's financial stability is further bolstered by the presence of Section 8 tenants, comprising 28% of the occupancy, ensuring reliable cash flow. Strategically located in C & D evacuation zones with buildings elevated 20 feet above sea level and retention ponds for drainage, Bayou Oaks offers enhanced protection and peace of mind. Its proximity to Sarasota Memorial Hospital and major thoroughfares like N Tamiami Trail provides residents with convenient access to healthcare and amenities. This property offers a unique blend of strong financial performance, desirable location, and inherent stability, making it an attractive investment prospect.

Highlights

  • Strong senior housing demand in Florida, fueled by a growing 65+ population exceeding national growth rates, creates high occupancy and stable long-term value.
  • Rising median household income drives rent growth and strong NOI, with a 53% rent increase since 2021.
  • 28% Section 8 occupancy ensures stable cash flow and reliable income.
  • Prime location in low-risk evacuation zones (C & D), elevated 20 feet, with retention ponds, near Sarasota Memorial Hospital and Tamiami Trail.

Property Details for 1160 Four Seasons Cir

Property type
Retirement homes, Apartment buildings
Square Feet
83,235 SF
Year Built
2000
Units
80

Location Insight

City
Sarasota
County
Sarasota
State
Florida
Latitude
27.3774466
Longitude
-82.5475888
1160 Four Seasons Cir, Sarasota, Florida

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
1160 Four Seasons Cir
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message