Sold
3812 BUTLER AVE
SARASOTA FL, 34234
$3,000,000
$184.91 per sqft
Sold
16,224 sqft
Commercial
Built in 1964
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
August 23, 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
Municipality
36S
Water Source
Public
Pool
No
Zoning
RMF2
Listing History
Date | Event | Price |
---|---|---|
5/3/2024 | Sold | $3,000,000 |
1/12/2024 | Pending | — |
Listed by FINE PROPERTIES
Listing Contact: 941-782-0000
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Data last updated 8/23/2024, 11:33 AM UTC