Royal Poinciana Townhomes 2740-2748 Proctor Rd 10 Unit Apartment Building For Sale 6.25% Cap Rate Sarasota, FL 34231

The Multifamily Firm is pleased to present the Royal Poinciana Townhomes, a 10-unit apartment complex in Sarasota, FL, featuring a desirable mix of 100% large Two-Bedroom / One & Half-Bathroom units with spacious two-story townhome-style floorplans. The property is fully occupied and offers additional upside potential through further interior cosmetic upgrades and exterior common area enhancements, while also benefiting from significant capital improvements already completed, including new roofs in 2023, exterior painting, a resurfaced pool deck, and numerous interior updates. Residents enjoy in-unit washer/dryers, spacious screened-in patios, sizable master bedroom balconies, a built-in swimming pool, sun deck, and abundant parking, with additional underutilized common area providing room for future amenity enhancements.
Constructed of 1981 masonry buildings with two separate parking lots and entrances for each building, the asset also features tenant-paid utilities direct to providers, helping support cash flow, as well as separate parcel IDs for all 10 units, offering potential future flexibility through an individual condo sell-off strategy. Located in a non-flood zone (Zone X) and within 10 minutes of Siesta Key Beach, one of Florida’s most recognized coastal destinations, Royal Poinciana Townhomes presents a well-positioned investment opportunity in the Sarasota market.
For full details & financial information, please view the property Offering Memorandum document!