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East Avenue Apartments 610 N East Ave 4 Unit Apartment Building $679,777 ($169,944/Unit) 6.33% Cap Rate Sarasota, FL 34237
Investment Highlights
- Favorable Seller Financing w/ Potential Interest-Only Payments Available for Qualified Buyer
- Rock-Solid Masonry Construction Built in 1951-76 in a NON-Flood Zone Location (Zone X)
- Prime Downtown Sarasota Location Just Blocks from the Urban Core | Near Payne Park / Legacy Trail Connectivity
- 4-Units, in 2 Masonry Building, on 1 Parcel Totaling 0.22 Acres | Washer/Dryer Hookups & Large Screened-In Lanai’s in One-Bedroom Units
- Potential to Acquire Adjacent Parcel, Expanding the Site to a Combined ±0.35 Acres
- Highly Desirable Live-Work-Play Setting Near Main Street, Payne Park, the Rosemary District & Sarasota’s Bayfront
Executive Summary
** View Offering Memorandum at MultifamilyFirm.com for Financial Info & Full Details! **
The Multifamily Firm is pleased to present the East Avenue Apartments, a 4-unit apartment community in a prime downtown Sarasota location, just blocks from the urban core. Being offered with favorable seller financing (see OM for details), the property features 4-units, in 2 masonry buildings, on 1 parcel totaling 0.22 acres. The property benefits from favorable Downtown Neighborhood Zoning (DTN), providing future redevelopment potential in one of Sarasota’s most desirable infill locations. Residents are positioned in a highly desirable live-work-play setting near Main Street, Payne Park, the Rosemary District, Sarasota’s Bayfront, and the Legacy Trail connection, supporting strong long-term renter demand. Additionally, buyers may have the potential to acquire the adjacent parcel, expanding the site to a combined ±0.35 acres.
View Offering Memorandum for financial info and full details!
The Multifamily Firm is pleased to present the East Avenue Apartments, a 4-unit apartment community in a prime downtown Sarasota location, just blocks from the urban core. Being offered with favorable seller financing (see OM for details), the property features 4-units, in 2 masonry buildings, on 1 parcel totaling 0.22 acres. The property benefits from favorable Downtown Neighborhood Zoning (DTN), providing future redevelopment potential in one of Sarasota’s most desirable infill locations. Residents are positioned in a highly desirable live-work-play setting near Main Street, Payne Park, the Rosemary District, Sarasota’s Bayfront, and the Legacy Trail connection, supporting strong long-term renter demand. Additionally, buyers may have the potential to acquire the adjacent parcel, expanding the site to a combined ±0.35 acres.
View Offering Memorandum for financial info and full details!
Property Facts
| Price | $679,777 | Apartment Style | Garden |
| Price Per Unit | $169,944 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.22 AC |
| Cap Rate | 6.33% | Building Size | 2,171 SF |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1976 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | DTN - Downtown Neighborhood | ||
| Price | $679,777 |
| Price Per Unit | $169,944 |
| Sale Type | Investment |
| Cap Rate | 6.33% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 2,171 SF |
| No. Stories | 1 |
| Year Built | 1976 |
| Opportunity Zone |
Yes |
| Zoning | DTN - Downtown Neighborhood |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | $1,375 | 520 - 555 |
| Studios | 2 | $1,200 | 350 |
1 1
Moderately walkable
70/100
Moderately drivable
60/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 2028-05-0087 | Improvements Assessment | $111,100 |
| Land Assessment | $170,400 | Total Assessment | $281,500 |
Property Taxes
Parcel Number
2028-05-0087
Land Assessment
$170,400
Improvements Assessment
$111,100
Total Assessment
$281,500
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East Avenue Apartments | 610 N East Ave
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