Type: Private
Price: $3,000,000
Location: Sarasota, Florida, FL
Address: 3812 BUTLER AVE, FL
Zip: 34234
Bedrooms: 52
Bathrooms: 26
Size: 16243 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 97-98% 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 Sold “As-IS” with right to inspect. Owners are motivated so bring us your offers. 6.5 miles to Lido Key beach and 9 miles to Siesta key beach. 7.5 miles to I-75 Highway.
