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318 S Palmetto Ave Sanford, FL 32771

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For Sale
$1,427,700

Historic 9-unit apartment building in downtown Sanford.

Lot size:
0.34 Acres

Property Features for 318 S Palmetto Ave

General Information

Property type
Investment
Standard status
Active
Lot size
0.34 Acres

Building Details

Year built
1901

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Listing Contact
Debbie Weaver
Source: Elliman

Listing Agency: Premium Properties Real Estate Services Listing Agent: Debbie Weaver

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

Historic Sanford Apartment Building

The Sirrine House, a historic building in the city, stands as the oldest hotel still present in Sanford. Converted into apartments in 1929, it is situated two blocks south of 1st Street and four blocks from Lake Monroe and the St. Johns Riverwalk. This apartment building, featuring nine units, is located on 0.34 acres in the heart of downtown. Eight units showcase refinished original hardwood floors, some wood doors with glass knobs, 10-foot ceilings, picture rails, and natural light and windows. Historic features include claw foot tubs, drain board kitchen sinks, and tin ceilings and walls, as well as built-in cabinets and wardrobes in the bedrooms. Porches and balconies with tree top views surround the building, and an outside paver patio area is available for residents under an oak tree. The property is located in a walking community with shops, restaurants, night spots with live music, and micro breweries. Updates to the building include re-piping, replaced metal roofs, refinished original hardwood floors, gutters, intellijack steal supports, a fire alarm panel, a cellular communicator, and a fire sprinkler system. The property has experienced occupancy with long-term tenants. Four of the units are furnished with higher rental rates. Several rents are lower than market value because of long term tenants. There is an unfinished 10th unit.
Location Intelligence

Current Use by Public Records

Sirrine House Apartment Apartment Building Secure Locksmith Sanford ... Locksmith

Suggested Use

Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

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City
Sanford
County
Seminole
State
Florida
Longitude
-81.2661569
Latitude
28.8092016

FAQs

What type of property is this?
Apartment building - Historic 9-unit apartment building in downtown Sanford.
Where is this apartment building located?
The property is located at 318 S Palmetto Ave Sanford, FL.
What is the asking price?
The asking price for this property is $1,427,700.
What are key features of this property?
This property features: - Historic building: The Sirrine House, the oldest hotel in Sanford, converted to apartments, retaining original features and charm.; - Prime downtown location: close to 1st Street, Lake Monroe, and the St. Johns Riverwalk.; - Income-producing property with excellent occupancy and long-term tenants. Potential for increased rents with 4 furnished units.
More about this property
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