1160 Four Seasons CirSarasota, FL 34234

Property Details for 1160 Four Seasons Cir

Year built

2000

Property size (Sq ft)

83,235 SF

Property type

Retirement homes

Property subtype

Apartment buildings

Description

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.

Location Insight

City

Sarasota

County

Sarasota

State

Florida

Latitude

27.3774

Longitude

-82.5476

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