133 W BAY STREET, Osprey, FL, 34229
1 beds
1953
3,168 sqft
This property offers immediate income generation through a well-maintained 4-Plex. Situated on half an acre with 100 feet of direct bayfront access, it is currently zoned RMF1 with the potential for up-zoning to RMF2 or RMF3. Located within a Special High-Density Overlay District, it allows for significant development opportunities. The existing model, designed for RMF1 zoning, can accommodate a 15,840-square-foot living space over parking on a 7,920-square-foot buildable area, adhering to County setbacks. Upzoning to RMF2 or RMF3 would enable even more living space, making it the optimal use for this land. This property is perfectly positioned for luxury condominium development, the creation of a luxury compound, or the construction of a high-end single-family residence while retaining the existing duplexes. It features a newly constructed 150-foot dock with mooring for multiple boats and the potential for expansion. Situated in the affluent Osprey Village-Spanish Point, one of the most rapidly developing areas in the region and the fastest-growing bayfront walking community in Sarasota County. The property currently includes a unique 4-Plex consisting of two duplexes with two addresses on a single parcel. An additional advantage is that the 4-Plex is already connected to County water, with County sewer and a central gas line available within 150 feet. Adjacent to this property, Parrot Cove is constructing nine multi-million-dollar homes, while 49 luxury townhouses have been approved to the southeast at the corner of Tamiami Trail, and 22 luxury condos are proposed a block south. This property offers a unique opportunity as the existing duplexes provide immediate income generation, allowing time for planning and permitting, and potentially serving as a construction office. Enjoy picturesque bay views across to North Casey Key, stunning sunsets, and an unobstructed view reminiscent of a century ago. The lush grounds include a 150-year-old Grand Oak Tree by the bay, a private beach area with a firepit, pathways, and mature natural Florida landscaping. The four existing residences are classic open loft bungalows from the 1950s, updated with modern amenities while preserving their historic charm. All four units are fully furnished, equipped with kitchens and wares, new beds, linens, window coverings, and have been meticulously maintained. On-site laundry facilities are available. The property's fantastic West of The Trail location is one block distance of Historic Spanish Point, numerous restaurants, and shopping. It offers easy access to Nokomis Beach, Legacy Trail, Siesta Key, shopping centers, medical facilities, UTC Mall, downtown Sarasota, St. Armand's Circle, The Island of Venice, and all area airports. Private air travel options are also accessible on The Island of Venice. The seller has been renovating the property since acquiring it and has recently secured lucrative rentals for both units in the East Duplex for February and March, generating substantial monthly income. Developers recognize this as a once-in-a-lifetime opportunity to develop bayfront property in this special part of Little Sarasota Bay. Viewings are by appointment only, and unauthorized entry onto the property is prohibited.
Status:
Active
Type:
Multi-family
Furnished Remarks:
Furnished
Laundry Remarks:
Laundry Room
Units:
4
Subdivision:
SARABAY ACRES
Garage:
Common, Driveway
Heating:
Central, Electric
Cooling:
Central Air
Lot Size:
100X228
Acreage:
0.47
Est. Taxes:
$12,768
Construction
Block, Stucco
Utilities
BB/HS Internet Available, Cable Connected, Public, Water Connected
Lot Description:
In County, Level, Near Marina, Oversized Lot
View Description:
Water
Elementary School:
Laurel Nokomis Elementary
Middle School:
Sarasota Middle
High School:
Venice Senior High
Days on Market:
209
Pet Policy:
Yes
Appliances:
Dishwasher, Dryer, Electric Water Heater, Microwave, Range, Refrigerator, Washer
Min Lease Term:
1 Month
MLS #:
N6124410
Community Info
School Info
Victory Baptist Academy
Enrollment: 56
Distance: 0.76 Miles
The Study Center
Enrollment: 4
Distance: 4.56 Miles
Community Rating:
Gulf Gate Elementary School
Rating: 8/10
Enrollment: 711
Distance: 4.58 Miles
Community Rating:
Imagine School At Palmer Ranch
Rating: 6/10
Enrollment: 502
Distance: 4.69 Miles
Community Rating:
Saltmeadow School
Enrollment: 17
Distance: 5.05 Miles
Mangrove School of Sarasota
Enrollment: 71
Distance: 5.05 Miles
European Academy Of Early Education
Enrollment: 53
Distance: 5.43 Miles
Community Rating:
Sarasota Middle School
Rating: 9/10
Enrollment: 1,244
Distance: 5.66 Miles
Community Rating:
Laurel Nokomis School
Rating: 8/10
Enrollment: 1,181
Distance: 5.77 Miles
Community Rating:
NewGate School
Enrollment: 155
Distance: 5.87 Miles
Community Rating:
Ashton Elementary School
Rating: 10/10
Enrollment: 1,060
Distance: 5.88 Miles
Community Rating:
Prew Academy
Enrollment: 43
Distance: 6.1 Miles
Community Rating:
Riverview High School
Rating: 6/10
Enrollment: 2,606
Distance: 6.15 Miles
Community Rating:
Sarasota Virtual Academy (Virtual Franchise)
Enrollment: 0
Distance: 6.16 Miles
Sarasota County Technical Institute
Enrollment: 4
Distance: 6.16 Miles
Sarasota Virtual School
Enrollment: 45
Distance: 6.23 Miles
Sarasota Virtual Instruction (Course Offerings)
Enrollment: 0
Distance: 6.23 Miles
Suncoast Polytechnical High School
Rating: 8/10
Enrollment: 565
Distance: 6.24 Miles
Community Rating:
Wilkinson Elementary School
Rating: 3/10
Enrollment: 511
Distance: 6.5 Miles
Community Rating:
Triad
Enrollment: 57
Distance: 6.51 Miles
Phillippi Shores Elementary School
Rating: 9/10
Enrollment: 789
Distance: 6.52 Miles
Community Rating:
Hershorin Schiff Community Day School
Enrollment: 252
Distance: 6.64 Miles
Community Rating:
Island Village Montessori School
Rating: 7/10
Enrollment: 662
Distance: 6.69 Miles
Community Rating:
Sarasota Suncoast Academy
Rating: 7/10
Enrollment: 670
Distance: 6.72 Miles
Community Rating:
Out-Of-Door Academy
Enrollment: 742
Distance: 6.72 Miles
Community Rating:
Epiphany Cathedral School
Enrollment: 183
Distance: 7.02 Miles
Community Rating:
Incarnation Catholic School
Enrollment: 165
Distance: 7.28 Miles
Community Rating:
Lakeview Elementary School
Rating: 9/10
Enrollment: 599
Distance: 7.41 Miles
Community Rating:
Venice Elementary School
Rating: 9/10
Enrollment: 570
Distance: 7.46 Miles
Community Rating:
Brookside Middle School
Rating: 7/10
Enrollment: 754
Distance: 7.47 Miles
Community Rating:
Venice Senior High School
Rating: 6/10
Enrollment: 2,236
Distance: 7.69 Miles
Community Rating:
Brickhouse Academy
Enrollment: 31
Distance: 7.7 Miles
Community Rating:
Brentwood Elementary School
Rating: 6/10
Enrollment: 655
Distance: 7.99 Miles
Community Rating:
Walk Score
Yelp
Listing courtesy of AYERS AND ASSOCIATES REAL ESTATE Phone: 941-266-3193