Renovated Duplex
For Sale
$1,000,000
2047 & 2051 Fiesta Drive, Sarasota, FL 34231
Two one-story duplexes offer four private-entry units with updated systems, individual yards, and off-street parking.
Property Size3,172 SF
Days on Market68
Property Features for 2047 & 2051 Fiesta Drive
General Information
Standard status
Active
Size
3,172 SF
Property subtype
Multifamily
Additional Details
Road Access
Yes
Amenities
in-unit washer and dryer
ceiling fans
private entrance
yard space
Building Details
Building Size
3,172 SF
Year Built
1974
Buildings
2
Stories
1
Construction
block
Tenancy
Multi
Listed By:
Gavin Oberlin · License #FL #SL3461965
(941) 720-0403
Source:
Ndc-commercial
Added: Aug 2
Changed: Sep 10
Last Checked: Oct 7 at 10:07AM
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 Gavin Oberlin
Investment Insights
Based on property information with market context.
This offering combines two side-by-side, one-story block duplexes into a four-unit package across two separate tax parcels. Built in 1974, the property includes four two-bedroom units, each with one full bath and a half bath in the primary bedroom. Private entrances, in-unit washers and dryers, luxury vinyl plank flooring, ceiling fans, storage, individual yard areas, and off-street parking serve each residence.
Capital improvements completed since 2023 include new electrical panels in all four units, replacement of attic ductwork, cast-iron drain line remediation, one new A/C system, and kitchen and bathroom renovations in select units. Both buildings received permitted roof replacements in 2024 with sealed roof decks and third-nail wind mitigation retrofits. The property is near Landings Plaza, the Gulf Gate corridor, Legacy Trail, and Siesta Key beaches. The duplexes are offered together and will not be sold separately.
Capital improvements completed since 2023 include new electrical panels in all four units, replacement of attic ductwork, cast-iron drain line remediation, one new A/C system, and kitchen and bathroom renovations in select units. Both buildings received permitted roof replacements in 2024 with sealed roof decks and third-nail wind mitigation retrofits. The property is near Landings Plaza, the Gulf Gate corridor, Legacy Trail, and Siesta Key beaches. The duplexes are offered together and will not be sold separately.
Key Highlights
- Four rentable units across two side‑by‑side duplexes
- Each unit has 2 bedrooms, 1 full bath, and a half bath in the primary bedroom
- Both buildings received permitted new roofs in 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,417
Cap Rate
3.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$648,340
$648.3K
Cap Rate 7%
$463,100
$463.1K
Cap Rate 9%
$360,189
$360.2K
Market Conditions
NOI Build-Up for 3,172 SF
Gross rent
$51.4K $16.20/SF
− Vacancy
−$5.1K −$1.60/SF
EGI
$46.3K $14.60/SF
− OpEx
−$13.9K −$4.38/SF
NOI
$32.4K $10.22/SF
Area
Sarasota County, FL
Vacancy
9.88%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$648,340
Cap Rate 7%
$463,100
Cap Rate 9%
$360,189
Alternative Uses
Best Use
Multifamily LT 5
$463.1K
$405.2K – $540.3K
NOI $32,417 @ 7.0% cap · market cap 3.24%
Second Best
Apartment 5plus
$412.7K
$361.1K – $481.5K
NOI $28,887 @ 7.0% cap · market cap 2.89%
Theoretical Best
Office A
$901.5K
$788.8K – $1.05M
NOI $63,106 @ 7.0% cap · market cap 6.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
740
Businesses Nearby
Explore this area
Business Placement
Demographics for 34231, FL
31,492
Population
19,017
Households
1.7
Avg Household Size
55
Median Age
38%
College-Educated
95%
High-School Grad
9.4 sq mi
ZIP Area
3,350
Density / Sq Mi
$69,721
Median Household Income
$40,608
Median Earnings
$1,707
Median Rent
$363,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two one-story duplexes offer four private-entry units with updated systems, individual yards, and off-street parking.
Where is this duplex located?
The property is located at 2047 & 2051 Fiesta Drive Sarasota, FL.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Four rentable units across two side‑by‑side duplexes; Each unit has 2 bedrooms, 1 full bath, and a half bath in the primary bedroom; Both buildings received permitted new roofs in 2024
