4-Unit Multifamily Income
3917 ROYAL PALM AVENUE Sarasota, FL 34234
For Sale
$524,900
Four income-producing residences on a single parcel, with units currently set up for month-to-month occupancy.
Property Size2,962 SF
Lot Size0.40 Acres
Price / SF$177.21
Days on Market9
Property Features for 3917 ROYAL PALM AVENUE
General Information
Standard status
Active
Size
2,962 SF
Lot size
0.40 Acres
Property subtype
Quadruplex
Building Details
Year Built
1953
Listing Agency:
HARRY ROBBINS ASSOC INC
(941) 924-8346
Listed By:
Emerson Robbins · License #3519461
Source:
Dennisrealty
Added: Jul 21
Changed: Jul 26
Last Checked: Jul 29 at 5:49AM
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 HARRY ROBBINS ASSOC INC
Investment Insights
Based on property information with market context.
This four-unit multifamily property includes three residences at 3917 and a spacious home at 3919. At 3917, the layout provides one 1BR/1BA unit plus two efficiency units. The 3919 unit is a 2BR-plus-bonus arrangement and is described as ready to turn, with targeting for a market lease. All units are currently month-to-month, giving a new owner flexibility to adjust rents or reposition over time.
Recent reinvestment has focused on major systems and unit-level upgrades. The shared 3917 roof was replaced within the last five years, water heaters for the three 3917 units were updated in 2023, and Unit A includes a 2022 AC air handler. The 3919 home adds newer AC and water heater upgrades, along with a carport and a paved patio. The property sits within the City of Sarasota’s North Trail redevelopment overlay on an oversized city lot described as approximately 0.40 acres.
Recent reinvestment has focused on major systems and unit-level upgrades. The shared 3917 roof was replaced within the last five years, water heaters for the three 3917 units were updated in 2023, and Unit A includes a 2022 AC air handler. The 3919 home adds newer AC and water heater upgrades, along with a carport and a paved patio. The property sits within the City of Sarasota’s North Trail redevelopment overlay on an oversized city lot described as approximately 0.40 acres.
Key Highlights
- 4‑unit multifamily with three units at 3917 (1BR/1BA plus two efficiencies) and a 2BR‑plus‑bonus unit at 3919
- Oversized ~0.40‑acre (17,555 SF) city lot on a single parcel, ideal for redevelopment or long‑term assemblage options
- All units are currently month‑to‑month, providing flexibility to adjust rents without inheriting long‑term leases
Financial Insights For Multifamily LT 5
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 | $58.6k | $19.80 |
| − Vacancy | −$3.1k | −$1.03 |
| EGI | $55.6k | $18.77 |
| − OpEx | −$16.7k | −$5.63 |
| NOI | $38.9k | $13.14 |
2,962 SF · lease $19.80/SF/yr · vacancy 5.22% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$555.9K
$486.4K – $648.5K
NOI $38,910 @ 7.0% cap · market cap 7.41%
Second Best
Apartment 5plus
$512.0K
$448.0K – $597.3K
NOI $35,840 @ 7.0% cap · market cap 6.83%
Theoretical Best
Office A
$871.0K
$762.2K – $1.02M
NOI $60,972 @ 7.0% cap · market cap 11.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Quadplex - Four income-producing residences on a single parcel, with units currently set up for month-to-month occupancy.
Where is this quadplex located?
The property is located at 3917 ROYAL PALM AVENUE Sarasota, FL.
What is the asking price?
The asking price for this property is $524,900.
What are key features of this property?
This property features: 4‑unit multifamily with three units at 3917 (1BR/1BA plus two efficiencies) and a 2BR‑plus‑bonus unit at 3919; Oversized ~0.40‑acre (17,555 SF) city lot on a single parcel, ideal for redevelopment or long‑term assemblage options; All units are currently month‑to‑month, providing flexibility to adjust rents without inheriting long‑term leases
