3812 Butler AVENUE, Sarasota, FL, 34234
1964
16,224 sqft
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.
Status:
Pending
Type:
Commercial
Units:
26
Complex:
NEWTOWN FARMS
Garage:
Common, Over 30 Spaces
Heating:
Wall Units / Window Unit
Cooling:
Wall/Window Unit(s)
Levels:
1
Acreage:
1.5
Est. Taxes:
$20,785
Construction
Block
Utilities
Electricity Available, Public, Water Connected
Days on Market:
42
Appliances:
Refrigerator
MLS #:
A4590943
Community Info
School Info
Walk Score
Yelp
Similar Properties
New or Coming Soon Properties
Listing courtesy of FINE PROPERTIES Phone: 941-782-0000