SARASOTA, FL 34242

Property

Ownership: Fee Simple
Type: Unknown
Bedrooms: 4 BR
Bathrooms: 3
Lot Size: 0.2 Acres

Financials

Price:$2,799,000
Annual Taxes:$18,980.97
888 Biscayne Blvd # Unit CU9 Miami, FL 33132
Listing Courtesy of PEOPLE'S TRUST REALTY

Prime investment opportunity directly on prestigious Beach Road in Siesta Key.

Description

Prime investment opportunity directly on prestigious Beach Road in Siesta Key. This fully renovated, raised multi unit property offers strong short term rental income potential in one of Florida's most desirable coastal markets. The side by side duplex features a spacious 2 bedroom, 2 bathroom unit and a 2 bedroom, 1 bathroom unit. Zoned RMF and legally permitted for nightly rentals, making it ideal for vacation rental investors. The current owner is available to continue managing the property for the next owner at only a 10 percent fee, with staff, cleaning crew, and maintenance vendors already in place. The property generated $393,000 in gross income in 2023, $323,000 in 2024 (with two months of downtime due to hurricane impact), and $291,000 in 2025 (still down from hurricane related effects), with 2026 year to date income of $192,000 through July. Recent updates include new AC systems in 2022, updated flooring in 2025, modernized plumbing in 2022, full electrical upgrades in 2022, and private hot tubs installed at each unit in 2022. Additional upside exists with completed engineering drawings to enclose the lower level, adding approximately 2,000 square feet and significant rental income potential. Just steps from the sand and close to Siesta Key Village shops and restaurants, this is a rare chance to own an income producing property in one of the top beach destinations in the country. Property is part of a very successful Airbnb portfolio consisting of three duplexes with cap rates exceeding 10 percent. Please inquire for details.

Amenities

  • Cable - Available
  • Cathedral Ceiling(s)
  • Dishwasher
  • Dryer
  • Electricity Connected
  • Living Room/Dining Room Combo
  • Microwave
  • Open Floorplan
  • Outdoor Grill
  • Outdoor Shower
  • Range
  • Refrigerator
  • Sewer Connected

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.

All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.