Pending

3812 BUTLER AVE

SARASOTA FL, 34234

$3,000,000


$184.91 per sqft

Pending

16,224 sqft

Commercial

Built in 1964

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!
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.

A4590943

MLS ID

November 30, 2023

Listed

February 16, 2024

Updated

Map

3812 BUTLER AVE
SARASOTA FL, 34234

Interior Features

Total Stories

1


Appliances

Refrigerator


Floor Description

Carpet, Linoleum


Fireplace

No


Cooling

Yes


Cooling Description

Wall/Window Unit(s)


Heating

Yes


Heating Description

Wall Units / Window Unit

Exterior/Building Features

Lot Size

1.5 Acres


Roof

Built-Up


Sewer

Public Sewer

Other Property Details

Area Name

34234 - Sarasota


Taxes

$20,785


Tax Frequency

Annually


Days on Market

42


Garage

No


Parking

Common, Over 30 Spaces


View

No


County

Sarasota


Water Source

Public


Pool

No


Zoning

RMF2


Buyer Agency Compensation

3%

Listing History

Date

Event

Price

1/12/2024

Pending

Listed by Cindy Lockhart, Beverly Perez with FINE PROPERTIES
Listing Contact: 941-782-0000 

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Data last updated 2/16/2024, 12:39 AM UTC

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