17-Unit Income
2066 Hillview St Sarasota, FL 34239
2066 Hillview St, Sarasota, FL, 34239
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For Sale
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17 income-producing units in concrete block construction with interior updates on three parcels near Sarasota Memorial Hospital.
Property Size14,377 SF
Price / SF$311.40
Days on Market113
Property Features for 2066 Hillview St
General Information
- Standard status
- Active
- Size
- 14,377 SF
- Property subtype
- Land, Multifamily
Listing agency
Dreznin Pappas Commercial Real Estate LLC
Listed by
Sean Dreznin · License #FL SL3233805
Source
Crexi
Added: Mar 31 Updated: Jul 21 at 3:31AM Checked: Jul 21 at 3:31AM
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 Dreznin Pappas Commercial Real Estate LLC
Investment Insights
Based on property information with market context.
This 17-unit income property features concrete block construction and interior updates throughout. The asset is currently positioned as income-producing housing, with the 17 units available to operate as rentals. It is also described as offering future options that may support additional value as conditions change.
The property consists of three parcels and is located in close proximity to Sarasota Memorial Hospital and its expanding campus. The remarks also indicate the area is sought after for professional housing needs, particularly for those looking to be near Hillview while remaining “East of the Trail,” as referenced in the provided marketing language.
Overall, the configuration supports straightforward multifamily operation with multiple units generating income, with the potential for enhancements to the existing property as future opportunities arise.
The property consists of three parcels and is located in close proximity to Sarasota Memorial Hospital and its expanding campus. The remarks also indicate the area is sought after for professional housing needs, particularly for those looking to be near Hillview while remaining “East of the Trail,” as referenced in the provided marketing language.
Overall, the configuration supports straightforward multifamily operation with multiple units generating income, with the potential for enhancements to the existing property as future opportunities arise.
Key Highlights
- 17 income‑producing units in concrete block construction across three parcels
- Interior updates included
- Located near Sarasota Memorial Hospital and its expanding campus
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $334.7k | $23.28 |
| − Vacancy | −$18.4k | −$1.28 |
| EGI | $316.3k | $22.00 |
| − OpEx | −$142.3k | −$9.90 |
| NOI | $174.0k | $12.10 |
14,377 SF · lease $23.28/SF/yr · vacancy 5.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.49M
$2.17M – $2.90M
NOI $173,959 @ 7.0% cap · market cap 3.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.23M
$3.70M – $4.93M
NOI $295,948 @ 7.0% cap · market cap 6.61%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
What type of property is this?
Apartment building - 17 income-producing units in concrete block construction with interior updates on three parcels near Sarasota Memorial Hospital.
Where is this apartment building located?
The property is located at 2066 Hillview St Sarasota, FL.
What is the asking price?
The asking price for this property is $4,477,000.
What are key features of this property?
This property features: 17 income‑producing units in concrete block construction across three parcels; Interior updates included; Located near Sarasota Memorial Hospital and its expanding campus
