Two-Bedroom Multifamily
For Sale
$1,998,997
350 N Elm St, Englewood, FL 34223
12-unit apartment community with in-unit washers and dryers, plus select renovated units across six deeded parcels.
Property SizeContact for details
Days on Market61
Property Features for 350 N Elm St
General Information
Standard status
Active
Property subtype
Multifamily
Occupancy
75%
Additional Details
Cap Rate
6.6%
Multifamily Units
12
Building Details
Tenancy
Multi
Listing Agency:
Tampa
Listed By:
Sebastian Harris · License #BK3353330
(813) 771-0641
Source:
Colliers
Added: Jul 10
Changed: Sep 4
Last Checked: Sep 8 at 3:30AM
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 Tampa
Investment Insights
Based on property information with market context.
Lemon Bay Villas is a 12-unit apartment community in the Englewood submarket of Sarasota County, Florida, offering all two-bedroom layouts. Each unit features an in-unit washer and dryer, and select units have been renovated with updated kitchens and luxury vinyl plank flooring.
The property is spread across 6 separately deeded parcels. According to in-place figures provided, 9 of 12 units are occupied with average in-place rents of $1,480, and the offering notes average comparable two-bedroom rents of $1,570 in the submarket. The property is positioned about half a mile from Dearborn Street and roughly ten minutes from Manasota Key.
The listing is presented for sale as an opportunity described as priced well below replacement cost, with an indicated 6.6% cap rate based on the information provided.
The property is spread across 6 separately deeded parcels. According to in-place figures provided, 9 of 12 units are occupied with average in-place rents of $1,480, and the offering notes average comparable two-bedroom rents of $1,570 in the submarket. The property is positioned about half a mile from Dearborn Street and roughly ten minutes from Manasota Key.
The listing is presented for sale as an opportunity described as priced well below replacement cost, with an indicated 6.6% cap rate based on the information provided.
Key Highlights
- 12‑unit apartment community with all units as 2‑bedroom apartments in the Englewood submarket (Sarasota County, FL)
- All units include in‑unit washers and dryers; select units feature renovated updates including updated kitchens and luxury vinyl plank flooring
- Average in‑place rents are $1,480 on 9 occupied units; market comps show average two‑bedroom rents of $1,570
Property Analytics
Current Use
Lease Details
12
Residential units
75%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
689
Businesses Nearby
Explore this area
Business Placement
Demographics for 34223, FL
19,118
Population
14,484
Households
1.3
Avg Household Size
66
Median Age
39%
College-Educated
96%
High-School Grad
41.9 sq mi
ZIP Area
456
Density / Sq Mi
$70,155
Median Household Income
$39,486
Median Earnings
$1,288
Median Rent
$358,000
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 - 12-unit apartment community with in-unit washers and dryers, plus select renovated units across six deeded parcels.
Where is this apartment building located?
The property is located at 350 N Elm St Englewood, FL.
What is the asking price?
The asking price for this property is $1,998,997.
What are key features of this property?
This property features: 12‑unit apartment community with all units as 2‑bedroom apartments in the Englewood submarket (Sarasota County, FL); All units include in‑unit washers and dryers; select units feature renovated updates including updated kitchens and luxury vinyl plank flooring; Average in‑place rents are $1,480 on 9 occupied units; market comps show average two‑bedroom rents of $1,570
