Active

$524,900

Features:
  • 3 Bedrooms
  • 4 Bathrooms
  • 2962 sq ft
Overview
  • ID: MFRA4700635
  • Bedrooms: 3
  • Bathrooms: 4
  • Size: 2962 sq ft
Property Details
Remarks
Virtually Staged. Rare 4-unit multifamily income opportunity in Sarasota's North Trail corridor, just minutes from downtown Sarasota, the bayfront, and the Ringling College of Art & Design district. The offering pairs dependable in-place cash flow with real value-add and redevelopment upside on an oversized ~0.40-acre city lot (17,555 SF). Four income-producing units include three residences at 3917 (a 1BR/1BA plus two efficiencies) and a spacious 2BR-plus-bonus home at 3919, with the 3919 unit turning now and targeting a market lease. All units are currently month-to-month, giving a new owner full flexibility to raise rents to market or reposition on their own timeline, with no long-term leases to inherit and clear upside as rents step up. Recent ownership has reinvested in the major systems, lowering near-term capital exposure: the shared 3917 roof was replaced within the last five years, water heaters for the three 3917 units were updated in 2023, and Unit A carries a 2022 AC air handler, while 3919 adds a newer AC and water heater, a carport, and a paved patio. Located in the City of Sarasota's North Trail redevelopment overlay, the parcel offers long-term assemblage and development optionality in one of Southwest Florida's most supply-constrained infill pockets, backed by steady rental demand from the surrounding Ringling College submarket. Offered at $524,900
Financial Considerations
Price:
$524,900
HOA Fee:
N/A
Tax Amount:
$7573.58
Price per SqFt:
$177.21
Tax Legal Description:
BEG NE COR TRACT 2 TH S 100 FT TH W 175.8 FT TH N 99.96 FT TH E 173.4 TO POB BEING PART OF TRACT 2 MARLOWE PARK
Exterior Features
Lot Size:
17555
Lot Features:
N/A
Waterfront:
No
Parking Spaces:
N/A
Parking:
N/A
Roof:
Shingle
Pool:
No
Pool Features:
N/A
Interior Features
Bedrooms:
3
Bathrooms:
4
Heating:
Other, Ductless
Cooling:
Wall/Window Unit(s)
Appliances:
N/A
Furnished:
No
Floor:
N/A
Levels:
N/A
Additional Features
Property Sub Type:
Quadruplex
Style:
N/A
Year Built:
1953
Construction Type:
Block
Garage Spaces:
No
Covered Spaces:
N/A
Direction Faces:
N/A
Pets Allowed:
No
Special Condition:
None
Additional Features:
Fence
Additional Features 2:
N/A
Map
  • Address
    3917 ROYAL PALM AVE
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