527 Beach ROAD Sarasota, FL $ 3,395,000
527 Beach ROAD
$ 3,395,000
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527 Beach ROAD

Sarasota, FL, 34242
$ 3,395,000
Bedrooms4 Baths3.0 Sq 1,803

Monthly Estimate*

$ 22,564

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Multi-Family Home for sale in Sarasota, FL

for $3,395,000 with 4 bedrooms and 3 full baths. This 1,803 square foot home was built in 1985 on a lot size of 0.17.

Presenting an exclusive opportunity on Siesta Key Beach – an exceptional duplex for your consideration. This is situated directly on Beach Road, boasting a consistent income stream. It can be retained as a lucrative investment or transformed into a grand three-story duplex with the potential for even greater returns. This property is divided into two separate units: a 2-bedroom, 2-bathroom unit and a 2-bedroom, 1-bathroom unit. With its rare zoning approval for short-term and nightly rentals, this property is perfect for use as a primary home, vacation home, or income-generating investment. This home's revenue is sure to exceed your expectations. All aspects of the rental, including cleaners, management, and handyman services, are already in place, ensuring a seamless and hassle-free transition. This property has earned a 4.9-star rating as a VRBO 'Premier Host and is recognized as an Airbnb 'SuperHost'. Included is an already preapproved plan with permits paid and engineered drawings approved to enclose the bottom garage area, adding an additional 2,000 square foot of space. Custom murals throughout the house making it one of the most sought after and unique homes on Siesta Key. Both units have undergone recent upgrades, including new floors, fresh paint, new bathrooms, and stylish new furnishings. Local artist-created custom murals provide pops of color to the traditional shiplap walls, and built-ins. The kitchens feature granite countertops and stainless-steel appliances, and the exteriors offer new fencing, a stone-paved patio with two grills, 2 private hot tubs, 2 tiki huts and a large heated pool. Entire in-house property management, cleaners, handyman, etc to stay with the sale making it turnkey and easy to operate. The management fee cost is about 3.5%, not the standard 20% as in most cases. The home brought in over $386,000 gross in last 12 months. Gross cap rap is at 11%. This is unheard of on such a great property that will continue to grow in value.

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Multi-Family Active

Price

$ 3,395,000

Bedrooms

4

Full Bath

3

Property Type

Multi-Family

Taxes

$ 22,790

Style

Duplex

Lot Size

0.17

Year Built

1985

Town/City

Sarasota

County/Region

Sarasota

MLS | Web ID

G5082108

Features
General
Interior Features Open Floorplan Stone Counters Thermostat Vaulted Ceiling(s)
Sewer Public Sewer
Heating Central Electric
Cooling Central Air
Utilities Cable Connected Electricity Connected Sewer Connected Street Lights Water Connected
Roof Shingle
Appliances Dishwasher Dryer Electric Water Heater Exhaust Fan Ice Maker Microwave Range Refrigerator Washer
Exterior Features Balcony Outdoor Shower
Zoning RMF1
Patio/Porch Features Deck Front Porch Porch Rear Porch
Pool Features Heated
Security Features Closed Circuit Camera(s) Smoke Detector(s)
Construction Materials Wood Frame Wood Siding
Pets Allowed Yes
Year Built 1985
View Water
Levels Two
Property SubType Duplex
Tax Year 2023
Percent Ownership Fee Simple
Gross Income 388000
County Sarasota
New Construction No
Property Type Residential Income
HOA / Comm Assn No
Subdivision Name SARASOTA BEACH
Garage Y/N No
Other Structures Other
Status Active
Directions MIDNIGHT PASS RD TO RIGHT ON BEACH RD. PROPERTY ON RIGHT.
City SARASOTA
Buyer Agent Compensation 3.0%
View Y/N Yes
Senior Community Y/N No
NumberOfUnitsTotal 2
MLS Area 34242 - Sarasota/Crescent Beach/Siesta Key
Lot Size Units Square Feet
Lot Size Square Feet 7379
Waterfront Y/N No
Carport Spaces 8
Carport Y/N Yes
Spa Features Above Ground Heated
Land Lease Y/N No
Tax Annual Amount 22790.74
Ok to Lease >6 Months <12
Additional Parcels Y/N No
Virtual Tour https://www.propertypanorama.com/instaview/stellar/G5082108
Days on Market 23
Building Area Units Square Feet
Living Area Units Square Feet
Standard Status Active
Occupancy Type Tenant
Tax Lot 25
Total Actual Rent 27600
Legal Description LOT 25 BLK 21 SARASOTA BEACH
Water Access Y/N No
Water View Y/N No
Flood Zone Code VE/AE
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Interior
Flooring Luxury Vinyl
Furnished Y/N Furnished
Air Conditioning Y/N Yes
Heating Y/N Yes
Window Features Blinds Drapes
Fireplace Y/N No
Laundry Features Inside
Total Bedrooms 4
Total Baths 3
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Exterior
Parking Features Driveway
Lot Features Flood Insurance Required FloodZone
Water Source Public
Lot Size Area 7379
Foundation Details Stilt/On Piling
Number of Buildings 1
Spa Yes
Building Area Total 4500
Lot Size Acres 0.17
Road Surface Type Paved
Covered Spaces 8
Number of Separate Water Meters 1
Number of Separate Electric Meters 1
Road Responsibility Public Maintained Road
Open Parking Y/N Yes
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* Excluded Features
List By
List Now Realty, Llc

Broker

info@listnowrealty.com

Email

Affordability Calculator

$24,463
Per Month
92%
8%
0%
Monthly Principal & Interest
$22,564
Monthly Property Taxes
$1,899
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
266288 Elementary School
265661 Middle School
Unknown High School High School
Pricing History
Date Price Price Change Description
6/5/2024 $3,395,000 -4.23% Price Down
5/13/2024 $3,545,000 Listed Price

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527 Beach ROAD, Sarasota, FL, 34242 is a Multi-Family Home for sale at $3,395,000 with 1,803 sqft and a lot size of 0.17. 527 Beach ROAD has 4 bedrooms, 3.0 baths, and was built in 1985. The property's zip code is 34242 which is in Sarasota, FL