Sarasota 25-unit Apartment Complex For Sale

Ian Black Real Estate has been retained as the exclusive agent for the sale of the Coastwood Apartment Complex, located at 2309-2329 N Tamiami
Trail, Sarasota, FL with the following key points:
◊ Summary:   The Subject Property known as the Coastwood Apartments is comprised of 6 buildings built of concrete floor or masonry, constructed
between 1947 and 1958, with a total of 25 units, located at 2309 – 2329 N Tamiami Trail (US 41), north of Downtown Sarasota, FL on 1.23 Acres and is comprised of:
* Building #1 (1 story): 1,321 SF
* Building #2 (1 story): 1,296 SF
* Building #3 (1 story): 2,132 SF
* Building #4 (1 story): 814 SF
* Building #5 (2 story): 2,206 SF
* Building #6 (1 story): 1,617 SF
Property includes laundry facility onsite for tenants; appliances and repairs completed and
replaced as needed in the units.
◊ 25 Total Units: Two large and three standard 1BR/1BA units and twenty Studio apartments.  The Studio units renting for $650 include electric and water.
◊ Desirable Location: Near Ringling College, New College and convenient to Downtown
◊ Historically Stable: Strong rental history of students and service industry employees, occupancy near 100% and a current waiting list
◊ Capital Improvements include:
1. 90% of the exterior doors replaced
2. 90% of the A/C units replaced
3. 50% of the Property has had exteriors repainted


◊ Can be purchased as portfolio: with additional 26 units located on Indian Beach Drive, 2 blocks north.
WWW.IAN-BLACK.COM
Confidentiality requested.  coastwood-apts-confidential-sale-flyer  Please complete CA and return to our office for a detailed Offering Memorandum

Property visits allowed only by pre-arranged appointment with the broker.

Sean Dreznin can be contacted at (941) 961-8199 or by email at sean@ian-black.com

 

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