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