Address3812 Butler Avenue, SARASOTA, FL, 34234

Price$3,000,000

  • Commercial Sale
  • 16,224 SQ FT
  • Built in 1964

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.

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Essential Information

  • MLS® #A4590943
  • Price$3,000,000
  • Bathrooms0.00
  • Square Footage16,224
  • Acres1.50
  • Price/SqFt$185 USD
  • Year Built1964
  • TypeCommercial Sale
  • Sub-TypeMulti-Family
  • StatusPending

Community Information

  • Address3812 Butler Avenue
  • AreaSarasota
  • SubdivisionNEWTOWN FARMS
  • CitySARASOTA
  • CountySarasota
  • StateFL
  • Zip Code34234

Amenities

  • ParkingCommon, Over 30 Spaces

Interior

  • AppliancesRefrigerator
  • HeatingWall Units / Window Unit
  • CoolingWall/Window Unit(s)
  • # of Stories1

Exterior

  • RoofBuilt-Up
  • FoundationBlock, Slab

Additional Information

  • Date ListedNovember 30th, 2023
  • Days on Market97
  • ZoningRMF2

Listing Details

  • OfficeFINE PROPERTIES
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Price Change History for 3812 Butler Avenue, SARASOTA, FL (MLS® #A4590943)

Date Details Change
Status Changed from Active to Pending –
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