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Tangerine Dream 4859 Commonwealth Dr 3 Unit Apartment Building $1,100,000 ($366,667/Unit) 6.12% Cap Rate Siesta Key, FL 34242
INVESTMENT HIGHLIGHTS
- Income-Producing Triplex
- Desirable Coastal Lifestyle with Flexibility
- High-Demand Rental Market
- Premium Siesta Key Location
- Turnkey Investment with Key Upgrades
- Large Lot with Redevelopment Potential
EXECUTIVE SUMMARY
INCOME-GENERATING TRIPLEX JUST MINUTES FROM WORLD-FAMOUS SIESTA KEY BEACH!
Located in the desirable Siesta Beach neighborhood on Siesta Key, this opportunity to own Tangerine Dream offers incredible potential for investors, vacation rental owners, or anyone seeking a coastal lifestyle with income potential.
This well-maintained triplex features three individual 1-bedroom, 1-bath units, totaling 2,222 of living square feet on a spacious 13,014 sq ft lot. Constructed in 1950, the property has been thoughtfully updated over the years including; a new roof, all new impact windows, and a new breaker system in 2019. A detached storage shed, provides extra space for storage or beach gear.
Perfectly situated just half a mile from the powdery white sands of Siesta Key Beach, consistently ranked America’s #1 Beach. The location is walkable and bike-friendly, with convenient access to Siesta Village’s shopping, dining, and nightlife. Other nearby attractions include Turtle Beach offering endless opportunities for outdoor recreation like kayaking and paddleboarding.
Positioned within a golf cart-friendly zone and free from HOA or deed restrictions, this property offers outstanding flexibility and strong short- and long-term rental potential. Whether you're an Airbnb or vacation rental investor seeking prime coastal cash flow, a multifamily buyer planning to live in one unit while renting the others, or a developer with an eye for redevelopment in a high-demand beachside area, this property checks every box.
Don’t miss this rare income-producing gem near Siesta Key Beach with limitless potential.
Located in the desirable Siesta Beach neighborhood on Siesta Key, this opportunity to own Tangerine Dream offers incredible potential for investors, vacation rental owners, or anyone seeking a coastal lifestyle with income potential.
This well-maintained triplex features three individual 1-bedroom, 1-bath units, totaling 2,222 of living square feet on a spacious 13,014 sq ft lot. Constructed in 1950, the property has been thoughtfully updated over the years including; a new roof, all new impact windows, and a new breaker system in 2019. A detached storage shed, provides extra space for storage or beach gear.
Perfectly situated just half a mile from the powdery white sands of Siesta Key Beach, consistently ranked America’s #1 Beach. The location is walkable and bike-friendly, with convenient access to Siesta Village’s shopping, dining, and nightlife. Other nearby attractions include Turtle Beach offering endless opportunities for outdoor recreation like kayaking and paddleboarding.
Positioned within a golf cart-friendly zone and free from HOA or deed restrictions, this property offers outstanding flexibility and strong short- and long-term rental potential. Whether you're an Airbnb or vacation rental investor seeking prime coastal cash flow, a multifamily buyer planning to live in one unit while renting the others, or a developer with an eye for redevelopment in a high-demand beachside area, this property checks every box.
Don’t miss this rare income-producing gem near Siesta Key Beach with limitless potential.
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $1,100,000 | Property Subtype | Apartment |
| Price Per Unit | $366,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.30 AC |
| Cap Rate | 6.12% | Building Size | 2,222 SF |
| Sale Condition | Bulk/Portfolio Sale | No. Stories | 2 |
| No. Units | 3 | Year Built/Renovated | 1950/2019 |
| Property Type | Multifamily | ||
| Zoning | RSF2 - RESIDENTIAL, SINGLE FAMILY | ||
| Price | $1,100,000 |
| Price Per Unit | $366,667 |
| Sale Type | Investment |
| Cap Rate | 6.12% |
| Sale Condition | Bulk/Portfolio Sale |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 2,222 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1950/2019 |
| Zoning | RSF2 - RESIDENTIAL, SINGLE FAMILY |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Fireplace
- Microwave
- Storage Space
- Washer/Dryer
- Heating
- Ceiling Fans
- Kitchen
- Granite Countertops
- Refrigerator
- Oven
- Carpet
- Yard
- Dining Room
- Patio
- Porch
- Skylights
SITE AMENITIES
- Fenced Lot
- Laundry Facilities
- Bicycle Storage
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 3 | - | 2,222 |
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Tangerine Dream | 4859 Commonwealth Dr
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