Active

527 BEACH RD

SARASOTA FL, 34242

$2,900,000


$1,608.43 per sqft

Active

4 Beds

3 Baths

1,803 sqft

Multi-family

Built in 1985

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.

G5082108

MLS ID

May 13, 2024

Listed

November 11, 2024

Updated

Map

527 BEACH RD
SARASOTA FL, 34242

Interior Features

Total Stories

2


Bedrooms

4


Total Bathrooms

3


Interior Features

Open Floorplan, Stone Counters, Thermostat, Vaulted Ceiling(s)


Appliances

Dishwasher, Dryer, Electric Water Heater, Exhaust Fan, Ice Maker, Microwave, Range, Refrigerator, Washer


Laundry Description

Inside


Floor Description

Luxury Vinyl


Fireplace

No


Cooling

Yes


Cooling Description

Central Air


Heating

Yes


Heating Description

Central, Electric

Exterior/Building Features

Lot Size

0.17 Acres


Exterior Features

Balcony, Outdoor Shower


Lot Features

Flood Insurance Required, Flood Zone


Roof

Shingle


Sewer

Public Sewer

Other Property Details

Area Name

34242 - Sarasota/Crescent Beach/Siesta Key


Taxes

$22,791


Tax Frequency

Annually


Days on Market

182


Association Fee Frequency

Monthly


Garage

No


Parking

Driveway


View

Yes


View Description

Water


County

Sarasota


Municipality

37S


Water Source

Public


Pool

Yes


Pool Features

Heated


Zoning

RMF1

Listing History

Date

Event

Price

11/11/2024

Price change

$2,900,000

-15%

6/5/2024

Price change

$3,395,000

-5%

Listed by LIST NOW REALTY, LLC
Listing Contact: 352-385-7636 

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Data last updated 11/11/2024, 9:50 PM UTC

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