3812 Butler Avenue, Sarasota, FL 34234
- $3,000,000
- 16,224
- SqFt
- Sold Price
- $3,000,000
- List Price
- $3,000,000
- Status
- Sold
- Days on Market
- 42
- Closing Date
- May 01, 2024
- MLS#
- A4590943
- Property Style
- Multi-Family
- Year Built
- 1964
- Living Area
- 16,224
- Price per sq. ft.
- 184.91
- Lot Size
- 65,340
- Acres
- 1.50
- Total Acreage
- 1 to less than 2
- Legal Subdivision Name
- Newtown Farms
- Development Name
- Pelau Estates
- MLS Area Major
- Sarasota
Property Description
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! 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! 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. 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. ****Do not disturb tenants or walk the property without your agent present*** Owners are motivated so bring us your offers.
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Additional Information
- Taxes
- $20785
- Community Features
- No Deed Restriction
- Zoning
- RMF2
- Floor
- Carpet, Linoleum
- Appliances
- Refrigerator
- Utilities
- Electricity Available, Public, Water Connected
- Heating
- Wall Units / Window Unit
- Air Conditioning
- Wall/Window Unit(s)
- Exterior Construction
- Block
- Roof
- Built-Up
- Foundation
- Block, Slab
- Pool
- No Pool
- Garage Features
- Common, Over 30 Spaces
- Flood Zone Code
- X
- Parcel ID
- 0026160016
- Legal Description
- LOT 44 LESS PARCEL IN SE COR FRONTING 80 FT ON BUTLER BY 100 FT DEEP NEWTOWN FARMS
Listing courtesy of FINE PROPERTIES. 941-782-0000
Selling Office: FINE PROPERTIES.Mortgage Calculator
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