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527 BEACH ROAD

Multi-family For Sale
$2,900,000

BTC: 29.74358974

ETH: 885.62868948

-$645K (2024/11/11)
192 days
4 bds
1,803 sqft
Est. Estimated sales range: $0 - $0
$0

Overview

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

Facts and features

Type:
Residential Income
Parking:
Driveway
Year Built:
1985
Lot:
0.17 Acres
Heating:
Central / Electric
Price/sqft:
$1,608
Cooling:
Central Air
HOA:
No Data
All facts and features
  • Flooring

    • Luxury Vinyl

    Heating

    • Central

    • Electric

    Cooling

    • Central Air

    Appliances

    • Dishwasher

    • Dryer

    • Electric Water Heater

    • Exhaust Fan

    • Ice Maker

    • Microwave

    • Range

    • Refrigerator

    • Washer

    Other interior features

    • Open Floorplan

    • Stone Counters

    • Thermostat

    • Vaulted Ceiling(s)

    Bedrooms and bathrooms

    • Bedrooms: 4

  • Parking

    • Driveway

    Property

    • Levels: Two

    • Pool Private: Yes

    • Exterior Features: Balcony / Outdoor Shower

    Lot

    • Lot: 0.17 Acres

    Other Property Information

    • Parcel Number: 0082120010

    • Zoning: RMF1

  • Type and style

    • Property Type: Residential Income

    • Property Sub Type: Duplex

  • Utility

    • Cable Connected

    • Electricity Connected

    • Sewer Connected

    • Street Lights

    • Water Connected

  • Other financial information

    • Annual tax amount: $22,791

  • Source details

    • MLS ID: G5082108

    Other facts

    • Construction Materials: Wood Frame / Wood Siding

    • Foundation Details: Stilt/On Piling

    • Laundry Features: Inside

    • Lot Features: Flood Insurance Required / FloodZone

    • Patio And Porch Features: Deck / Front Porch / Porch / Rear Porch

    • Pool Features: Heated

    • Window Features: Blinds / Drapes

    • Other Structures: Other

    • Living Area: 1803

    • Water Source: Public

    • Subdivision Name: SARASOTA BEACH

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The multiple listing information is provided by the Stellar MLS from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024-present Stellar MLS. All Rights Reserved. The information provided is for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Listing courtesy of: LIST NOW REALTY, LLC