4 Beds
2 Baths
1,651 SqFt
4 Beds
2 Baths
1,651 SqFt
Key Details
Property Type Multi-Family, Duplex
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 1,651 sqft
Price per Sqft $239
Subdivision North Vamo Sub 2
MLS Listing ID A4707072
Bedrooms 4
HOA Y/N No
Year Built 1977
Annual Tax Amount $5,000
Lot Size 7,405 Sqft
Acres 0.17
Property Sub-Type Duplex
Source Stellar MLS
Property Description
The 1974 unit is currently occupied at $1,700/month by a long-term tenant who is in the second year of their lease, providing stable income from day one. The 1976 unit has recently become vacant, creating a rare opportunity for a prospective buyer to tour the interior and evaluate the property firsthand before placing a new tenant. This also gives a new owner flexibility to establish the next lease at current market conditions rather than purchasing a fully occupied property without access to the second unit.
Both units have been updated inside and feature their own private laundry, adding a significant amenity for tenants and helping support rental demand. Each unit also has a carport, while the rear 1976 unit offers something especially appealing: A large private backyard and spacious screened lanai, providing valuable outdoor living space that is increasingly difficult to find in rental properties.
The property is currently under professional property management, making this an especially appealing option for an investor seeking an established rental with management already in place. The two-unit configuration provides diversification within a single property while offering the potential to improve overall returns through future rent adjustments and strategic leasing.
Location is a major part of the investment story. The property is conveniently located near Target, Publix and everyday shopping and services, while also offering easy access to the Gulf Coast lifestyle that makes Sarasota such a desirable rental market. Siesta Key and the Gulf of Mexico are within easy reach, giving tenants convenient access to some of the area's most sought-after beaches and recreational amenities.
Outdoor enthusiasts will appreciate the property's proximity to Wharf Road Park and Vamo Drive Park, both of which offer canoe/kayak launching access to the Sarasota-area waterways. Vamo Drive Park sits on Little Sarasota Bay and provides a canoe/kayak launch, while Wharf Road Park also provides direct paddling access. The parks are also less than a mile from Midnight Pass, placing some of Sarasota's premier coastal recreation within a short float across the bay.
Another potential long-term benefit is the property's proximity to the Sarasota Square redevelopment. The former Sarasota Square Mall site is being transformed into a large mixed-use destination incorporating retail, restaurants, outdoor gathering areas and residential development. The project is already under active development, with the first phase of commercial space moving forward and a 355-unit residential component planned as part of the larger redevelopment.
For an investor, this property offers an appealing combination of existing rental income, professional management, two separately rentable units, private laundry, carports, outdoor space, an immediately tourable vacant unit, and a location positioned near shopping, beaches, Sarasota Bay and significant surrounding redevelopment.
Tour the vacant 1976 unit while it is available and see the investment opportunity for yourself. Properties offering this combination of income and South Sarasota location deserve a closer look.
Location
State FL
County Sarasota
Community North Vamo Sub 2
Area 34231 - Sarasota/Gulf Gate Branch
Interior
Interior Features Ceiling Fans(s), Eat-in Kitchen, Living Room/Dining Room Combo, Open Floorplan, Thermostat, Window Treatments
Heating Central, Electric
Cooling Central Air
Flooring Vinyl
Furnishings Unfurnished
Fireplace false
Appliance Dishwasher, Disposal, Dryer, Electric Water Heater, Microwave, Range, Refrigerator, Washer
Laundry Outside
Exterior
Exterior Feature Private Entrance, Private Mailbox, Private Yard
Parking Features Covered, Driveway
Utilities Available BB/HS Internet Available, Cable Available, Electricity Connected, Phone Available, Public, Water Connected
View Y/N No
Water Access No
Roof Type Shingle
Porch Rear Porch, Screened
Garage false
Private Pool No
Building
Entry Level One
Foundation Slab
Lot Size Range 0 to less than 1/4
Sewer Septic Tank
Water Public
Structure Type Block,Stucco
New Construction false
Schools
Elementary Schools Gulf Gate Elementary
Middle Schools Brookside Middle
High Schools Riverview High
Others
Pets Allowed Yes
Senior Community No
Ownership Fee Simple
Special Listing Condition None
Virtual Tour https://www.propertypanorama.com/instaview/stellar/A4707072
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