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A rare opportunity to acquire a beautifully restored 1940 coastal-inspired Key West style Florida bungalow positioned on an oversized 0. 38-acre parcel offering future subdivision potential. Following closing, the property may be split into three separate lots, creating one residence lot with the existing home, and two additional buildable parcels—an exceptional value-add opportunity in a highly desirable Sarasota location.
The 3-bedroom, 1. 5-bath residence blends architectural character with curated modern upgrades. Interior highlights include refinished bamboo and wood flooring, exposed wood ceiling beams, and custom cedar built-ins that enhance the home’s refined coastal Key West bungalow aesthetic. The chef’s kitchen is thoughtfully designed with solid wood cabinetry, quartz countertops, an imported Italian tile backsplash, and updated stainless steel appliances. An adjacent addition provides expanded pantry storage and a laundry area, leading to a spa-inspired primary bathroom featuring dual vanities, a freestanding soaking tub, and a walk-in rain shower.
The upper level hosts a private primary suite with a generous walk-in closet with built-ins, a second bedroom, and an updated half bath, while the third bedroom is conveniently located on the main level—ideal for guest accommodations or flexible use.
Outdoor living has been elevated to an almost resort-style experience, featuring a 12-foot above-ground pool/spa with custom wood decking, multiple patios finished with imported Italian crystal tile, and a lush botanical setting with over 200 plantings and mature fruit trees including banana, mango, avocado, peach, and guava. Additional amenities include a pavilion, private outdoor shower, and a firepit designed for elevated entertaining and relaxation.
Significant capital improvements include a 2023 metal roof, hurricane-rated windows, 2021 HVAC system, 2022 water heater, recent connection to public water, and a 2024 well pump with filtration system also on property. The home offers insulated and drywalled interiors, newly installed wheelchair-accessible outdoor walkway paths, an extended 6+ vehicle driveway, and a 12x14 detached workshop or garage, further enhancing functional versatility.
With no HOA, no deed restrictions, and no flood insurance required, this property presents an exceptional combination of lifestyle appeal and long-term investment flexibility. Ideally located just minutes from downtown Sarasota’s premier dining, shopping, and cultural attractions, this offering is well-suited for private ownership, redevelopment, or strategic portfolio expansion.
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Our Executive Mortgage Banker:
Our Insurance Division:
$625,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
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|---|---|---|---|
| Loan Amount | $500,000 | $500,000 | $500,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.625% | 6.625% | 5.750% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.133% | 6.739% | 5.952% |
| Monthly Tax Payment | $400 | $400 | $400 |
| H/O Insurance Payment | $92 | $92 | $92 |
| Initial Principal & Interest Pmt | $2,878 | $3,202 | $4,152 |
| Total Monthly Payment | $3,370 | $3,694 | $4,644 |
* 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.