Small Multifamily Income
For Sale
Contact for pricing
Pending
4704 Swift Rd, Sarasota, FL 34231
Five-unit apartment property with kitchen and bathroom flooring upgrades across the residences.
Property Size5,608 SF
Days on Market157
Property Features for 4704 Swift Rd
General Information
Standard status
Pending
Size
5,608 SF
Class
B
Property subtype
Multifamily
Zoning
RMF2 - RESIDENTIAL, MULTI-FAMILY
Occupancy
96%
Investment Type
Stabilized
Net Operating Income
$67,000
Additional Details
Multifamily Units
5
Building Details
Year Built
1952
Year Renovated
2023
Buildings
2
Stories
1
Units
5
Listing Agency:
Dreznin Pappas Commercial Real Estate LLC
Listed By:
Sean Dreznin · License #FL SL3233805
Source:
Crexi
Added: Apr 1
Changed: Aug 19
Last Checked: Sep 4 at 4:11PM
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.
Riverview Residences is a five-unit multifamily property offered on one parcel. The current unit mix consists of one 4/2 single-family home and four 2/1 units. Interior improvements include flooring upgrades in the kitchens, bathrooms, and throughout the units.
The property is located at 4704 Swift Rd in Sarasota, Florida.
As presented, the asset offers an owner the benefit of multiple residential units on a single parcel with established unit mix and upgraded flooring finishes.
The property is located at 4704 Swift Rd in Sarasota, Florida.
As presented, the asset offers an owner the benefit of multiple residential units on a single parcel with established unit mix and upgraded flooring finishes.
Key Highlights
- Riverview Residences is a 5‑unit apartment property on 1 parcel
- Unit mix includes one 4/2 SFH and four 2/1 units
- Kitchen flooring upgrades are included across the units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$67,856
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.31%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,357,120
$1.4M
Cap Rate 7%
$969,371
$969.4K
Cap Rate 9%
$753,956
$754.0K
Market Conditions
NOI Build-Up for 5,608 SF
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.
Gross rent
$130.6K $23.28/SF
− Vacancy
−$7.2K −$1.28/SF
EGI
$123.4K $22.00/SF
− OpEx
−$55.5K −$9.90/SF
NOI
$67.9K $12.10/SF
Area
Manatee County, FL
Vacancy
5.50%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,357,120
Cap Rate 7%
$969,371
Cap Rate 9%
$753,956
Alternative Uses
Best Use
Apartment 5plus
$969.4K
$848.2K – $1.13M
NOI $67,856 @ 7.0% cap · market cap 4.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.65M
$1.44M – $1.92M
NOI $115,440 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
371
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
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 - Five-unit apartment property with kitchen and bathroom flooring upgrades across the residences.
Where is this apartment building located?
The property is located at 4704 Swift Rd Sarasota, FL.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: Riverview Residences is a 5‑unit apartment property on 1 parcel; Unit mix includes one 4/2 SFH and four 2/1 units; Kitchen flooring upgrades are included across the units
