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3812 Butler Avenue
Sarasota, FL 34234

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Property Details


List Price: $3,000,000
Beds: --
Baths: --
Status: Pending
SqFt: 16224
Agency: Fine Properties

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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


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.


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