2720-2750 Hope St - Apartments FOR SALE


Sarasota, FL 34231- South Sarasota
$2,100,000 USD
631-404-6060
2720-2750 Hope St, Sarasota, FL for Sale
$2,100,000 USD
Apartments - FOR SALE
1/8
null | 6.85% Cap Rate

2720-2750 Hope St
Sarasota, FL 34231
South Sarasota


HIGHLIGHTS

  • Attractive Light Value-Add Opportunity w/ Significant Upside | Potential to Convert Garage into Income-Generating Storage Units
  • NON-Flood Zone Location (Zone X) Significantly Reducing Insurance Expenses | Ideally Located Less Than 10 Minutes from Downtown Sarasota
  • Rock-Solid 1980-87 Masonry Construction w/ On-Site Coin-Operated Laundry & Large Garage Area
  • Interior Updates in 8-Units, Including New Kitchen Cabinets, Granite Countertops, Bathroom Vanities & Showers and New Flooring
  • Features a Distinctive 2-BD / 2-BA Unit, Former Owner's Suite, Offering a Spacious Screened-In Lanai & a Generous Private Backyard
  • Prime Location Just 10 Minutes from Siesta Key, Recognized as Florida’s #1 Best Beach and #2 Beach in the USA by TripAdvisor's 2024

OVERVIEW

*** View Offering Memorandum at MultifamilyFirm.com for Full Details & Financial Information *** The Multifamily Firm is pleased to present the Ventura Apartments, a 12-unit apartment complex in Sarasota, Florida, offering a prime investment opportunity in one of the nation’s most sought-after coastal markets. Strategically positioned just 10 minutes from Siesta Key, recently ranked Florida’s #1 Beach and the #2 Beach in the U.S. by Tripadvisor’s 2024 Travelers’ Choice Awards, the property benefits from strong tenant demand and exceptional investment potential. Additionally, its NON-flood zone location (Zone X) provides a significant reduction in insurance costs. This light value-add opportunity presents substantial upside through strategic cosmetic upgrades, implementation of RUBS or utility fees, and the conversion of the oversized garage into income-generating storage units. With its prime location, solid construction, and multiple avenues for value enhancement, Ventura Apartments offers a rare opportunity to capitalize on Sarasota’s thriving rental market and the enduring appeal of Siesta Key. View Offering Memorandum for full details & financial information!!

FOR SALE DETAILS

PRICE

$2,100,000 USD

PRICE/SF

$263 USD /SF

# OF UNITS

12

PRICE/UNIT

$175,000

CAP RATE

6.85%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Ventura Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1980

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.74 AC

LAND SF

32,234 SF

ZONING

RMF-3

APN/PARCEL ID

0085-01-0013

ASK ABOUT THIS PROPERTY

Phil GinexiThe Multifamily Firm, LLCMore Info
631-404-6060

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Phil GinexiThe Multifamily Firm, LLCMore Info
631-404-6060

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.