Apartments for sale in Sarasota, FL – 10/27/16

Currently available:   For more information on these properties or others or to discuss your investment objectives, please contact Sean Dreznin at Ian Black Real Estate by email sean@ian-black.com or by phone (941) 906-8688

 


17-units in Sarasota, FL (Burns Court/Downtown Sarasota area)

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A signature building with upside!  10 residential units and 7 first floor retail units.  Currently 100% occupied

Asking $2,875,000 and we are performing tours and accepting offers!

Future development potential exists as zoning is DTC allowing for 10 stories and up to 50 units per acre.  This property consists of 8,600 SF of land and 11,500 SF of building.


 

8-units in Sarasota, FL

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Western area of Sarasota on the North Side of 10th St.  The location of the property puts you close to the Bayfront and the 10th St boat dock, the Van Wezel and minutes from Rosemary District and Downtown Sarasota.

Priced at approx $850k, the  property consists of (8) 1/1 units.  Currently the average monthly rent is $863 whereas the highest achieved rent is $900 (6 units).  The market would comfortably allow for rental upside between $925-$975.

All the units are purported to have been completely remodeled on the inside.  The building is concrete block and was constructed in 1974.  Its effective age is 1995.


8-units in Sarasota, FL

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Located in a highly desired area, this property is one of the most unique rental properties in the entire county.  While highly confidential and off-market, this property has been under the same ownership for 25+ years.  The property is free of debt and the rents are well below market.

The purchase price is going to be somewhere in the $1 million dollar range and the location alone can support this valuation.  Any new owner will need to raise the rents (no substantial capital improvements needed per ownership) to bring the Income valuation up to the purchase price value, but the real gem here is the ownership prefers seller financing.


8-units – Sarasota, FL – $999k

8 unit apartment complex in a convenient location.

Close to beaches, restaurants, and transportation. Each unit has 2 bedrooms and 2 bathrooms with a one car carport and are approximately 1080sq/ft. Well maintained. New roof in July 2013.

Close to beaches, restaurants, and transportation. Great lake view.

Net Operating Income $79,992 per ownership

 

4-Units – Siesta Key Beach, FL – $1.6 million

A turn-key type investment.  Management is in place and the property is rented well through next season.  Little deferred maintenance needed other then purchase and enjoy your own Siesta Key Retreat while renting out units and bringing in some income as well.

Highly confidential!

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4-Units – Sarasota, FL “Gateway to Siesta Key” – $798k

Owner has become more motivated and would entertain all reasonable offers. The ownership would like to focus on larger projects and would require selling this property before doing so.

Income Receipts for January through end of March. (This was this property’s inaugural attempt at being a vacation rental property and not an annual rental as it has always been.  Therefore there is rental upside!!)

Unit 1: $ 9,900
Unit 2: $ 2,400 (Annual Rental @ $800/mo)
Unit 3: $12,100
Unit 4: $10,700

Total Rental Units: 4
New Lower Sales Price: $797,000
Tremendous upside potential as seasonal rental property
Desirable location minutes from Siesta Key beaches
Well maintained property has two 2BR/1BA & two 1BR/1BA units
All seasonal units recently renovated – 3 vacation units
and 1 annual rental in place!

Written permission for on-site visits required

Located on the North side of Siesta Dr just West of South Osprey Ave in luxurious Sarasota, Fl. Minutes from world renowned Siesta Key beach and fishing, shopping, amazing restaurants, water sports (paddle boarding or something a bit more relaxing such as a raft)


4-Units – Sarasota, FL – $450k

Southgate is a Two duplex apartment community, on One parcel of land, sandwiched in a superior rental area of Central Sarasota. The building on the North end of the parcel, features Two, 2 bedroom / 1 bathroom units, and the building on the South end of the parcel features One, 3 bedroom / 1 bathroom unit, and One, 1 bedroom / 1 bathroom unit. Both structures on the parcel were built in 1959 with solid concrete block construction and central AC / Heat.

The Southgate Apartments offering provides is an investor with very little future deferred maintenance, as one of the buildings is equipped with a new roof that was replaced in 2015, and the other roof is still fairly new and in great condition. In addition, three of the central AC systems have been replaced. All of the units feature tile flooring throughout, and standard rental grade cabinetry /appliances.

The property is ideally located just East of Route 41 (Tamiami Trail), and just South of Bee Ridge Road in Sarasota County. Within walking distance of the property, to the East on Route 41, is the popular restaurant Bonefish Grille, and within walking distance to the North of Bee Ridge Road, is the newly renovated Westfield Southgate Mall. The Southgate Apartments are within a mile & half of the beautiful white-sand on Siesta Key, and less than three miles from the buzzing downtown Sarasota.


 

4-units – Sarasota, FL – $279k

 

4 (2/2) units side by side in Sarasota ( few blocks north of Sarasota airport off University)

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For more information on these properties or others or to discuss your investment objectives, please contact Sean Dreznin at Ian Black Real Estate by email sean@ian-black.com or by phone (941) 906-8688

 

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