527 BEACH RD Active Save Request In-Person Tour Request Virtual Tour
Sarasota,FL 34242
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 1,803 sqft
Price per Sqft $1,882
Subdivision Sarasota Beach
MLS Listing ID G5082108
Bedrooms 4
HOA Y/N No
Originating Board Stellar MLS
Year Built 1985
Annual Tax Amount $22,790
Lot Size 7,405 Sqft
Acres 0.17
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.
Location
State FL
County Sarasota
Community Sarasota Beach
Zoning RMF1
Interior
Interior Features Open Floorplan,Stone Counters,Thermostat,Vaulted Ceiling(s)
Heating Central,Electric
Cooling Central Air
Flooring Luxury Vinyl
Furnishings Furnished
Fireplace false
Appliance Dishwasher,Dryer,Electric Water Heater,Exhaust Fan,Ice Maker,Microwave,Range,Refrigerator,Washer
Laundry Inside
Exterior
Exterior Feature Balcony,Outdoor Shower
Garage Driveway
Pool Heated
Utilities Available Cable Connected,Electricity Connected,Sewer Connected,Street Lights,Water Connected
Waterfront false
View Water
Roof Type Shingle
Porch Deck,Front Porch,Porch,Rear Porch
Parking Type Driveway
Garage false
Private Pool Yes
Building
Lot Description Flood Insurance Required,FloodZone
Entry Level Two
Foundation Stilt/On Piling
Lot Size Range 0 to less than 1/4
Sewer Public Sewer
Water Public
Structure Type Wood Frame,Wood Siding
New Construction false
Others
Pets Allowed Yes
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash,Conventional,Other
Listing Terms Cash,Conventional,Other
Special Listing Condition None