Price Reduction - Water Views
Address
527 Beach ROAD, SARASOTA, FL
Price
$ 3,395,000
Property Attributes
- MLS#G5082108
- TypeIncome
- CountySARASOTA
- CitySARASOTA
- AreaSarasota-Crescent Beach-Siesta Key
- NeighborhoodSarasota Beach
- Zip34242
- StyleDuplex
- Year Built1985
- Taxes$ 22790
- Price$ 3,395,000
- Bedrooms4
- Full Bathrooms3
- Half Bathrooms0
- Sqr Footage1803
- Lot Size0.17 Acres
Data Source:
Stellar MLS
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.
| Price History | |
|---|---|
| 5/13/2024 | Listed $3,545,000 |
| 6/5/2024 | 5% - $3,395,000 |
General Features
| Interior Features | Open Floorplan,Stone Counters,Thermostat,Vaulted Ceiling(s) |
|---|---|
| Sewer | Public Sewer |
| Heating | Central,Electric |
| Cooling | Central Air |
| Utilities | Cable Connected,Electricity Connected,Sewer Connected,Street Lights,Water Connected |
| Roof | Shingle |
| Appliances | Dishwasher,Dryer,Electric Water Heater,Exhaust Fan,Ice Maker,Microwave,Range,Refrigerator,Washer |
| Exterior Features | Balcony,Outdoor Shower |
| Zoning | RMF1 |
| Patio/Porch Features | Deck,Front Porch,Porch,Rear Porch |
| Pool Features | Heated |
| Security Features | Closed Circuit Camera(s),Smoke Detector(s) |
| Construction Materials | Wood Frame,Wood Siding |
| Pets Allowed | Yes |
| Year Built | 1985 |
| View | Water |
| Levels | Two |
| Property SubType | Duplex |
| Tax Year | 2023 |
| Percent Ownership | Fee Simple |
| Gross Income | 388000 |
| County | Sarasota |
| New Construction | No |
| Property Type | Residential Income |
| HOA / Comm Assn | No |
| Subdivision Name | SARASOTA BEACH |
| Garage Y/N | No |
| Other Structures | Other |
| Status | Active |
| Directions | MIDNIGHT PASS RD TO RIGHT ON BEACH RD. PROPERTY ON RIGHT. |
| ModificationTimestamp | 2024-06-05T19:54:09.853Z |
| City | SARASOTA |
| Buyer Agent Compensation | 3.0% |
| View Y/N | Yes |
| Senior Community Y/N | No |
| NumberOfUnitsTotal | 2 |
| MLS Area | 34242 - Sarasota/Crescent Beach/Siesta Key |
| Lot Size Units | Square Feet |
| Lot Size Square Feet | 7379 |
| Waterfront Y/N | No |
| Carport Spaces | 8 |
| Carport Y/N | Yes |
| Street Name | Beach |
| Spa Features | Above Ground,Heated |
| Land Lease Y/N | No |
| Tax Annual Amount | 22790.74 |
| Ok to Lease | >6 Months |
| Additional Parcels Y/N | No |
| Virtual Tour | https://www.propertypanorama.com/instaview/stellar/G5082108 |
| Days on Market | 23 |
| Building Area Units | Square Feet |
| Living Area Units | Square Feet |
| Standard Status | Active |
| Occupancy Type | Tenant |
| Tax Lot | 25 |
| Total Actual Rent | 27600 |
| Legal Description | LOT 25,BLK 21,SARASOTA BEACH |
| Water Access Y/N | No |
| Water View Y/N | No |
Interior Features
| Flooring | Luxury Vinyl |
|---|---|
| Furnished Y/N | Furnished |
| Air Conditioning Y/N | Yes |
| Heating Y/N | Yes |
| Window Features | Blinds,Drapes |
| Fireplace Y/N | No |
| Street Suffix | ROAD |
| Laundry Features | Inside |
| Total Bedrooms | 4 |
| LivingAreaSource | Public Records |
| Total Baths | 3 |
Exterior Features
| Parking Features | Driveway |
|---|---|
| Lot Features | Flood Insurance Required,FloodZone |
| Water Source | Public |
| Lot Size Area | 7379 |
| Foundation Details | Stilt/On Piling |
| Number of Buildings | 1 |
| Spa | Yes |
| Building Area Total | 4500 |
| Lot Size Acres | 0.17 |
| Road Surface Type | Paved |
| Covered Spaces | 8 |
| Number of Separate Water Meters | 1 |
| Number of Separate Electric Meters | 1 |
| Road Responsibility | Public Maintained Road |
| Open Parking Y/N | Yes |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Income Average in 34242
Price
Taxes
Visits
Year Built
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All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Updated on June 8, 2024 10:21 PM UTC
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© 2024 Florida Gulf Coast MLS (FGCMLS) Information deemed reliable, but not guaranteed. The IDX data relating to real estate for sale on this web site comes in part from the Florida Gulf Coast Multiple Listing Service. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
