Renovated 16-Unit Apartment
1410 Magellan Drive, Sarasota, FL 34243
For Sale
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Efficiency apartments feature updated interiors and General Commercial zoning in Sarasota.
Property Size5,163 SF
Price / SF$532.64
Days on Market105
Property Features for 1410 Magellan Drive
General Information
Standard status
Size
Class
Property subtype
Zoning
Investment Type
Net Operating Income
Financials
Asking Price
Gross Income
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Year Renovated
Buildings
Stories
Units
Tenancy
Listing Agency:
DOUGLAS ELLIMAN
Listed By:
Rex Glasson · License #FL BK3067512
(941) 587-6135
Source:
Crexi
Added: Jul 28
Changed: Nov 7
Last Checked: Nov 8 at 6:19AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of DOUGLAS ELLIMAN
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Investment Insights
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This Sarasota apartment property contains 16 efficiency units within approximately 5,163 square feet. Originally built in 1974, the community received extensive interior improvements in 2018, including refreshed flooring, updated bathrooms, and other system upgrades. A new roof was installed in 2019, addressing a significant building component.
The property is located at 1410 Magellan Drive in Sarasota, Florida, within the Southwest Community Improvement District. General Commercial zoning supports the property's current multifamily configuration and provides a broader commercial land-use designation. The asset may be acquired individually or as part of a five-property portfolio totaling 47 rental units.
The property is located at 1410 Magellan Drive in Sarasota, Florida, within the Southwest Community Improvement District. General Commercial zoning supports the property's current multifamily configuration and provides a broader commercial land-use designation. The asset may be acquired individually or as part of a five-property portfolio totaling 47 rental units.
Key Highlights
- 16 efficiency apartment units totaling approximately 5,163 square feet
- Extensive interior renovations completed in 2018
- New roof installed in 2019
Property Analytics
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Current Use
Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
808
Businesses Nearby
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Demographics for 34243, FL
30,107
Population
16,287
Households
1.8
Avg Household Size
54
Median Age
43%
College-Educated
95%
High-School Grad
18.0 sq mi
ZIP Area
1,673
Density / Sq Mi
$79,799
Median Household Income
$42,586
Median Earnings
$1,960
Median Rent
$395,000
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Sarasota, FL
Properties on Market for Apartment buildings in Sarasota
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Efficiency apartments feature updated interiors and General Commercial zoning in Sarasota.
Where is this apartment building located?
The property is located at 1410 Magellan Drive Sarasota, FL.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: 16 efficiency apartment units totaling approximately 5,163 square feet; Extensive interior renovations completed in 2018; New roof installed in 2019
