60-unit Apartment Complex in Sarasota, FL For Sale

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30043045
Property Subtypes: Low-Rise/Garden, Mid-Rise, Other
Status: Pending/Contingent
Number of Units: 60 Units
Building Size (RSF): 43,843 SF
Gross Building Area: See Agent
Sale Price: See Agent
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 7.0%
Average Occupancy Rate: 965
Last Updated: 7/18/2017

Overview / Comments

Total Building Size: 43,048 RSF +/-
Total Land Size: 92,420 SF +/-
Sales Price: $5.795 Million
Cap Rate: 7.0 %
60 Unit Apartment Portfolio new to market
Hillview: 46 Units and Chez Ami: 14 Units
Historically stable - strong rental history, occupancy near 100%
Financial data available with Confidentiality Agreement

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Tax ID/APN: 0000007699
Zoning: RMF5
Percent Occupied: 100%
Property Located Between: Sarasota Memorial Hospital and Southgate Neighborhood
Total Number of Buildings: 8
Property Condition: Good
Number of Stories: 2
Year Built: 1969
Construction/Siding: Concrete
Exterior Description: Stucco
Parking Type: Surface
Parking Description: 1 space per unit -- approx 10-15 units have the ability to stack vehicles and create two spaces -- additional lot on Arlington can be purchased and connects to 2023 Hillview thereby creating the opportunity for additional parking
Laundry: Laundromat Nearby
Air Conditioning: Package Unit
Interior Description: Tile Floors throughout -- standard remodel includes painting, updated kitchens and bathrooms as needed and updated water heaters/appliances as needed
Zoning Description: RMF5
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,531 87,869 170,351
Median Age: 47.86 46.57 48.38
Households: 5,530 39,982 78,833

Source

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