Active

$449,777

Features:
  • 5 Bedrooms
  • 2 Bathrooms
  • 1818 sq ft
Overview
  • ID: MFRA4697057
  • Bedrooms: 5
  • Bathrooms: 2
  • Size: 1818 sq ft
Property Details
Remarks
Rare investment opportunity in Sarasota! Multi-family properties are seldom available in this predominantly single-family neighborhood, making this duplex a unique addition to any real estate portfolio. This income-producing property offers two separately leased units with a combined living area of approximately 1,818 square feet on a 7,800-square-foot lot. The front unit features 3 bedrooms, 1 bathroom, & a dedicated laundry room while the second (Back) unit offers 2 bedrooms, 1 bathroom, and backyard access. Both units are currently occupied through 3/31/2026, providing immediate rental income and minimizing vacancy risk for investors seeking stable cash flow. Electric/Water are not separately metered and Landlord pays these two utilities. Several major improvements have already been completed, including a new roof in 2019, updated HVAC in 2023 (back unit uses window units), and an updated electrical panel in 2023. The property is in the central Sarasota area with easy access to shopping, dining, schools, employment centers, downtown Sarasota, and the area's world-famous Gulf Coast beaches. Gross rents of $4,010. Annual Leases. Seller will consider owner financing. Showings require advanced notice. Call today!
Financial Considerations
Price:
$449,777
HOA Fee:
N/A
Tax Amount:
$3818
Price per SqFt:
$247.4
Tax Legal Description:
LOT 302 RIDGEWOOD ESTATES 1ST ADD
Exterior Features
Lot Size:
7800
Lot Features:
In County, Paved
Waterfront:
No
Parking Spaces:
N/A
Parking:
Driveway
Roof:
Membrane
Pool:
No
Pool Features:
N/A
Interior Features
Bedrooms:
5
Bathrooms:
2
Heating:
Central
Cooling:
Central Air, Wall/Window Unit(s)
Appliances:
Dishwasher, Range, Range Hood, Refrigerator
Furnished:
Yes
Floor:
Tile
Levels:
One
Additional Features
Property Sub Type:
Duplex
Style:
N/A
Year Built:
1960
Construction Type:
Block, Stucco
Garage Spaces:
No
Covered Spaces:
N/A
Direction Faces:
N/A
Pets Allowed:
No
Special Condition:
None
Additional Features:
Fence, Storage
Additional Features 2:
Please check with Sarasota County regarding any and all rental restrictions.
Map
  • Address
    3731 PAPAI DR
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