Active

$2,400,000

Features:
  • 10 Bedrooms
  • 8 Bathrooms
  • 4435 sq ft
Overview
  • ID: MFRA4688714
  • Bedrooms: 10
  • Bathrooms: 8
  • Size: 4435 sq ft
Property Details
Remarks
7 Rentable Units | 10 Bed, 8 Bath Income Property – Prime Siesta Key Location! Exceptional opportunity to own a fully leased multifamily property just minutes from world-famous Siesta Key Beach. Located on Siesta Drive—the gateway to Siesta Key—this offering includes two adjacent triplexes on two separate lots, with potential to expand to 8 units. The property features a versatile mix of 1BR, 2BR, 3BR, and studio layouts, ideal for maximizing rental income. Zoned for weekly rentals (7-day minimum) within city limits, this property offers strong income potential with a blend of long-term tenants and proven short-term rental performance (Airbnb 5-star host/seasonal). Recent upgrades include newer roofs (2016–2017), new siding, updated A/C units, hot water heaters (2021+), appliances, exterior plumbing, fencing, and security lighting/cameras. Professionally landscaped grounds enhance curb appeal. On-site laundry with the ability to add laundry to every unit. Tenants pay utilities with 7 separate water and electric meters. Situated just blocks from the North Bridge and within walking distance to shopping, dining, and everyday conveniences. Located in an X flood zone – NO flood insurance required, and Level D evacuation zone. Ample parking for up to 17 vehicles, plus space for boats, kayaks, and recreational toys. Buy one or both – must be sold simultaneously: 1761 Siesta Dr & 1760 Wisconsin Ln – a rare high-income investment package on Siesta Key. Strong financials: ~7.45% cap rate, under $20K in annual expenses, and projected income of $175K–$200K+ with upside potential. Do not disturb tenants. Showings by appointment only; listing agent must accompany all showings.
Financial Considerations
Price:
$2,400,000
HOA Fee:
N/A
Tax Amount:
$9642.89
Price per SqFt:
$541.15
Tax Legal Description:
LOT 25 BLK B BAYVIEW and LOT 26 BLK B BAYVIEW
Exterior Features
Lot Size:
12733
Lot Features:
In County, Landscaped, Near Public Transit, Private, Street One Way, Paved
Waterfront:
No
Parking Spaces:
N/A
Parking:
Assigned, Common
Roof:
Shingle
Pool:
No
Pool Features:
N/A
Interior Features
Bedrooms:
10
Bathrooms:
8
Heating:
Central, Electric
Cooling:
Central Air, Mini-Split Unit(s), Wall/Window Unit(s)
Appliances:
Dishwasher, Disposal, Dryer, Electric Water Heater, Microwave, Range, Refrigerator, Washer
Furnished:
No
Floor:
Terrazzo, Tile, Vinyl
Levels:
One
Additional Features
Property Sub Type:
Triplex
Style:
N/A
Year Built:
1949
Construction Type:
Block, Concrete
Garage Spaces:
No
Covered Spaces:
N/A
Direction Faces:
N/A
Pets Allowed:
Yes
Special Condition:
None
Additional Features:
Fence, Lighting, Private Entrance, Private Mailbox, Private Yard, Storage
Additional Features 2:
city limits of siesta. 7-day minimum; airbnb and other short-term rentals ALLOWED
Map
  • Address
    1761 SIESTA DR & 1760 WISCONSIN LN
Contact a Professional
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