Active

$849,000

Features:
  • 0 Bedrooms
  • 0 Bathrooms
  • 4608 sq ft
Overview
  • ID: MFRA4673788
  • Bedrooms: 0
  • Bathrooms: 0
  • Size: 4608 sq ft
Property Details
Remarks
This rare six-unit multifamily property offers a compelling value-add investment in the highly sought-after Nokomis–Venice corridor, just off U.S. 41 (Tamiami Trail)—one of the region’s busiest commercial and residential corridors. The property includes two concrete-block buildings on a 14,130 sq. ft. lot, featuring two 2BD/2BA units, two 2BD/1BA units, and two studios under flexible RMF-3 zoning. Recent capital improvements—new roofs, multiple AC systems, renovated kitchens, and connection to public water and sewer (2022)—minimize near-term expenses and position the property for immediate income growth. Current rents are approximately $200 below market, with occupancy at 33%, offering significant upside potential. Durable construction with in-unit laundry, patios/balconies, and central AC ensures long-term tenant appeal. The property’s prime location delivers high visibility and convenient access to Nokomis Beach, Venice Island, I-75, and major Sarasota employment centers, attracting a broad rental audience. Notably, only one of the two buildings has been fully renovated, leaving additional upside through renovations in the second building. This investment represents a rare coastal multifamily opportunity in a supply-constrained, high-demand market, providing both near-term income upside and long-term appreciation potential.
Financial Considerations
Price:
$849,000
HOA Fee:
N/A
Tax Amount:
$8750.9
Price per SqFt:
$184.24
Tax Legal Description:
COM AT SE COR OF SW 1/4 OF SE 1/4 OF SEC 36-38-18 TH NWLY ALG C/L OF TAMIAMI TRL 678 FT TH W 33 FT TO NW COR OF TAMIAMI TRL & ALBEE RD TH CONT W 626 FT WITH N LINE OF ALBEE RD FOR POB W 90 FT TH
Exterior Features
Lot Size:
14130
Lot Features:
N/A
Waterfront:
No
Parking Spaces:
N/A
Parking:
N/A
Roof:
Shingle
Pool:
No
Pool Features:
N/A
Interior Features
Bedrooms:
0
Bathrooms:
0
Heating:
Central
Cooling:
Central Air
Appliances:
N/A
Furnished:
No
Floor:
N/A
Levels:
N/A
Additional Features
Property Sub Type:
Multi Family
Style:
N/A
Year Built:
1972
Construction Type:
Concrete
Garage Spaces:
No
Covered Spaces:
N/A
Direction Faces:
N/A
Pets Allowed:
No
Special Condition:
None
Additional Features:
Lighting, Sidewalk
Additional Features 2:
Per County Restrictions
Map
  • Address
    210 ALBEE RD E
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