Your search is over. Look no further. Just 2 blocks from world-famous Siesta Key Beach, this move-in ready, mid-century gem checks ALL the boxes!
5325 Avenida Del Mare is a distinctive & charming beach house built at the height of the Sarasota School of Architecture movement. This iconic 1, 700 ft² three bed, two bath home is less than a half mile to Beach Access #11 and exactly one mile to Siesta Key Village. Unmatched in terms of design, craftsmanship, quality of materials, price and location, here are just a few of the outstanding features of this unique home: Brand new roof in 2023; Freshly painted exterior; A/C is 5 years old; Updated kitchen and newer appliances in 2023; New electrical subpanel and hot water heater; New tile floors in all the bedrooms. Built in 1950, this home has had just two owners and could not be more perfect as a private winter retreat, a lucrative rental, or for your year-round personal enjoyment. A local property management company forecasts $70k in rental income, even though this pristine home has never been rented. Other features include open-beam ceilings throughout, built-in seating in the living room, and a wood-burning fireplace. Crafted from Pecky Cypress wood, the home has solid Cypress wood doors and tongue & groove paneling. Floor-to-ceiling sliding glass doors open from the living and kitchen areas to an oversized 650 sq ft front lanai which is the perfect spot for relaxing on hammocks after a day at the beach. The 640 sq ft primary bedroom has French windows and doors, ensuite bath, an alcove office area, walk-in closet and separate entrances that allow for privacy - ideal for guests or extended family. The home offers versatility, as the layout might lend itself to being configured as a 2-bedroom/1 bath at the front of the home, with the primary bedroom serving as a fully equipped “Owner’s Suite” with the installation of a kitchenette. Original finishes in the two guest bedrooms include built-in desks, dressers, and closets. A 10’ x 12’ free-standing outbuilding at the back of the property equipped with electricity can serve as an artist’s workshop or storage space. Imagine the possibilities! With the addition of paver stone walkways around the perimeter of the home, and the install of a new pool in the backyard, along with a hot tub on the side of the home steps from the guest bedrooms, you can transform the outside of this home into a tropical oasis. Rental income projection and pool plans and estimate available. Can be sold turnkey furnished.
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William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $836,000 | $836,000 | $836,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.125% | 6.875% | 6.750% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.851% | 6.989% | 6.936% |
Monthly Tax Payment | $191 | $191 | $191 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $5,632 | $5,492 | $7,398 |
Total Monthly Payment | $5,947 | $5,807 | $7,713 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.