Renovated 16-Unit Apartment
For Sale
Contact for pricing
1410 Magellan Drive, Sarasota, FL 34243
Efficiency apartments feature updated interiors and General Commercial zoning in Sarasota.
Property Size5,163 SF
Price / SF$532.64
Days on Market9
Property Features for 1410 Magellan Drive
General Information
Standard status
Active
Size
5,163 SF
Class
C
Property subtype
Multifamily
Zoning
General Commercial
Investment Type
Value Add
Net Operating Income
$192,000
Financials
Asking Price
$2,750,000
Gross Income
$192,000
Units
Unit Mix
16 x efficiency
Multifamily Units
16
Building Details
Year Built
1974
Year Renovated
2011
Buildings
1
Stories
2
Units
16
Tenancy
Multi
Listing Agency:
DOUGLAS ELLIMAN
(941) 587-6135
Listed By:
Rex Glasson · License #FL BK3067512
Source:
Crexi
Added: Jul 28
Changed: Aug 5
Last Checked: Aug 5 at 4:50AM
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
Investment Insights
Based on property information with market context.
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
Current Use
Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
808
Businesses Nearby
Explore this area
Business Placement
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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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
