527 Beach Road, Sarasota, FL 34242

$3,545,000
4
BD
1,803
SqFt
List Price
$3,545,000
Status
Active
Days on Market
10
MLS#
G5082108
Property Style
Duplex
Year Built
1985
Bedrooms
4
Living Area
1,803
Lot Size
7,379
Acres
0.17
Total Acreage
0 to less than 1/4
Legal Subdivision Name
Sarasota Beach
Community Name
Sarasota Beach
MLS Area Major
Sarasota/Crescent Beach/Siesta Key

Property Description

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.

Additional Information

Taxes
$22790
Annual Gross Income
388000
Location
Flood Insurance Required, FloodZone
Community Features
No Deed Restriction
Property Description
Two Story
Zoning
RMF1
Interior Layout
Open Floorplan, Stone Counters, Thermostat, Vaulted Ceiling(s)
Interior Features
Open Floorplan, Stone Counters, Thermostat, Vaulted Ceiling(s)
Floor
Luxury Vinyl
Appliances
Dishwasher, Dryer, Electric Water Heater, Exhaust Fan, Ice Maker, Microwave, Range, Refrigerator, Washer
Utilities
Cable Connected, Electricity Connected, Sewer Connected, Street Lights, Water Connected
Heating
Central, Electric
Air Conditioning
Central Air
Exterior Construction
Wood Frame, Wood Siding
Exterior Features
Balcony, Outdoor Shower
Roof
Shingle
Foundation
Stilt/On Piling
Pool
Private
Pool Type
Heated
Garage Carport
5+ Car Carport
Garage Features
Driveway
Pets
Allowed
Flood Zone Code
VE/AE
Parcel ID
0082120010
Legal Description
LOT 25, BLK 21, SARASOTA BEACH

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Listing courtesy of LIST NOW REALTY, LLC.

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