Homeslyst  /  For Rent  /  Homes  /  Florida  /  Listing 114252

3812 BUTLER AVE, SARASOTA, FL 34234 Multi Family For Sale MLS# A4590943 for Rent

Detailed Information

  • Type: Private

  • Price: $3,000,000

  • Location: Sarasota, Florida, FL

  • Address: 3812 BUTLER AVE, FL

  • Zip: 34234

  • Size: 16221 square feet

  • Property size: 65337 square feet

  • Condition: Used

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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