3812 Butler Avenue
Sarasota,
FL
34234
Property Details
List Price: |
$3,000,000 |
Beds: |
-- |
Baths: |
-- |
Status: |
Pending |
SqFt: |
16224 |
Agency: |
Fine Properties |
Description/Comments
Lot Size: |
1 acre(s) |
Property Type: |
Commercial |
Year Built: |
1964 |
Notes: |
Under contract-accepting backup offers. Investors, come check out this one-of-a-kind diamond in the rough 26-unit duplex community situated on 1.5 acre right in the middle of Sarasota!<br />
Each unit is approximately 624 sq. feet of living space. All units are 2 bedrooms, 1 bathroom and have been owned and managed by one family for the past forty-one years!<br />
Many tenants have been in their unit for 10 plus years so turnover is extremely low with occupancy rates in the 98-99 percent range yearly.<br />
<br />
Rents are currently well below market values by hundreds of dollars per month per unit. Leases are currently on a month-to-month basis so a new investor can renovate one unit at a time and increase rents. One unit is currently being renovated and has a waiting list of tenants for almost 40 percent more than current rental rates. Located very near shops, restaurants, bus lines, and I-75 highway. The extreme need for affordable housing in the Sarasota area makes this property a truly fantastic opportunity. With renovation of each unit, this community has huge upside income potential.<br />
<br />
****Do not disturb tenants or walk the property without your agent present***<br />
<br />
Owners are motivated so bring us your offers. |
MlsNumber: |
A4590943 |
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Listing Provided By: |
Fine Properties, original listing |
Name: |
Fine Properties |
Phone: |
(941) 526-3113 |
Office Name: |
FINE PROPERTIES |
Office Phone: |
(941) 782-0000 |
Agent Name: |
Cindy Lockhart |
Disclaimer: |
Copyright © 2024 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. |