Active

$2,900,000

Features:
  • 4 Bedrooms
  • 3 Bathrooms
  • 1803 sq ft
Overview
  • ID: MFRG5082108
  • Bedrooms: 4
  • Bathrooms: 3
  • Size: 1803 sq ft
Property Details
Remarks
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.
Financial Considerations
Price:
$2,900,000
HOA Fee:
N/A
Tax Amount:
$22790.74
Price per SqFt:
$1608.43
Tax Legal Description:
LOT 25, BLK 21, SARASOTA BEACH
Exterior Features
Lot Size:
7379
Lot Features:
Flood Insurance Required, FloodZone
Waterfront:
No
Parking Spaces:
N/A
Parking:
Driveway
Roof:
Shingle
Pool:
Yes
Pool Features:
Heated
Interior Features
Bedrooms:
4
Bathrooms:
3
Heating:
Central, Electric
Cooling:
Central Air
Appliances:
Dishwasher, Dryer, Electric Water Heater, Exhaust Fan, Ice Maker, Microwave, Range, Refrigerator, Washer
Furnished:
Yes
Floor:
Luxury Vinyl
Levels:
Two
Additional Features
Property Sub Type:
Duplex
Style:
N/A
Year Built:
1985
Construction Type:
Wood Frame, Wood Siding
Garage Spaces:
No
Covered Spaces:
N/A
Direction Faces:
N/A
Pets Allowed:
Yes
Special Condition:
None
Additional Features:
Balcony, Outdoor Shower
Additional Features 2:
N/A
Map
  • Address
    527 BEACH RD
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