Description

Virtually Staged. Rare 4-unit multifamily income opportunity in Sarasota's North Trail corridor, just minutes from downtown Sarasota, the bayfront, and the Ringling College of Art & Design district. The offering pairs dependable in-place cash flow with real value-add and redevelopment upside on an oversized ~0.40-acre city lot (17,555 SF). Four income-producing units include three residences at 3917 (a 1BR/1BA plus two efficiencies) and a spacious 2BR-plus-bonus home at 3919, with the 3919 unit turning now and targeting a market lease. All units are currently month-to-month, giving a new owner full flexibility to raise rents to market or reposition on their own timeline, with no long-term leases to inherit and clear upside as rents step up. Recent ownership has reinvested in the major systems, lowering near-term capital exposure: the shared 3917 roof was replaced within the last five years, water heaters for the three 3917 units were updated in 2023, and Unit A carries a 2022 AC air handler, while 3919 adds a newer AC and water heater, a carport, and a paved patio. Located in the City of Sarasota's North Trail redevelopment overlay, the parcel offers long-term assemblage and development optionality in one of Southwest Florida's most supply-constrained infill pockets, backed by steady rental demand from the surrounding Ringling College submarket. Offered at $524,900