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3731 PAPAI DRIVE

Multi-family For Sale
$449,777

BTC: 6.84592085

ETH: 265.98285038

New
5 bds
1,818 sqft

Overview

Rare investment opportunity in Sarasota! Multi-family properties are seldom available in this predominantly single-family neighborhood, making this duplex a unique addition to any real estate portfolio. This income-producing property offers two separately leased units with a combined living area of approximately 1,818 square feet on a 7,800-square-foot lot. The front unit features 3 bedrooms, 1 bathroom, & a dedicated laundry room while the second (Back) unit offers 2 bedrooms, 1 bathroom, and backyard access. Both units are currently occupied through 3/31/2026, providing immediate rental income and minimizing vacancy risk for investors seeking stable cash flow. Electric/Water are not separately metered and Landlord pays these two utilities. Several major improvements have already been completed, including a new roof in 2019, updated HVAC in 2023 (back unit uses window units), and an updated electrical panel in 2023. The property is in the central Sarasota area with easy access to shopping, dining, schools, employment centers, downtown Sarasota, and the area's world-famous Gulf Coast beaches. Gross rents of $4,010. Annual Leases. Seller will consider owner financing. Showings require advanced notice. Call today!

Location

Florida • SARASOTA • 34232 • Multi-family • For Sale

Details

Type:
Residential Income
Parking:
Driveway
Year Built:
1960
Lot:
0.18 Acres
Heating:
Central
Price/sqft:
$247
Cooling:
Central Air / Wall/Window Unit(s)
HOA:
No Data

Valuation

Our model vs. what's actually selling nearby.
Estimate
$529,000
$443K – $1.6M
Confidence Low
List vs. estimate
$79K below estimate
List $449,777 · -15.0%
Our model says this listing is priced below recent comparable activity. Expect competition.
Price per sq ft
$247
-40.0% vs. city median $412
Based on
8 MLS comparables
Median of recent comparable listings. Sold comps use closing price, active listings use list price.

Highlights

Annual tax
$3,818
2025
View
Trees/Woods
All facts and features

  • Flooring

    • Tile

    Heating

    • Central

    Cooling

    • Central Air

    • Wall/Window Unit(s)

    Appliances

    • Dishwasher

    • Range

    • Range Hood

    • Refrigerator

    Other interior features

    • Ceiling Fan(s)

    • Open Floorplan

    • Thermostat

    Bedrooms and bathrooms

    • Bedrooms: 5

  • Parking

    • Driveway

    Property

    • Levels: One

    • Exterior Features: Fenced / Storage

    Lot

    • Lot: 0.18 Acres

    Other Property Information

    • Parcel Number: 0063150041

    • Zoning: RSF3

  • Type and style

    • Property Type: Residential Income

    • Property Sub Type: Duplex

  • Utility

    • BB/HS Internet Available

    • Cable Connected

    • Electricity Connected

    • Public

    • Sewer Connected

    • Water Connected

  • Other financial information

    • Annual tax amount: $3,818

  • Source details

    • MLS ID: A4697057

    Other facts

    • Construction Materials: Block / Stucco

    • Foundation Details: Slab

    • Laundry Features: Laundry Room

    • Lot Features: In County

    • Window Features: Blinds

    • Other Structures: Shed(s)

    • Living Area: 1818

    • Water Source: Public

    • Subdivision Name: RIDGEWOOD ESTATES ADD 01 RESUB

Private inquiry
Talk to the advisor on this listing.
Floor plans, HOA docs, off-market comparables, scheduling a private showing — one message, direct to the local specialist.

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Market around this address

Live counts in the same area.
View all
This zip
34232
162
median $339K
Active
Same city
SARASOTA
3,017
median $599K
Active
Same type
Multi-family
38
median $774K
Active
Similar price
$314K – $584K
786
median $438K
Active

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 ©2026-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: RELAX PROPERTY GROUP, LLC