Downtown Sarasota Five-Unit Apartment
For Sale
$1,199,999
503 N OSPREY Ave, Sarasota, FL 34236
Five-unit apartment complex in downtown Sarasota with development potential.
Property SizeContact for details
Days on Market106
Property Features for 503 N OSPREY Ave
General Information
Standard status
Active
Property subtype
Investment
Building Details
Year Built
1949
Listing Agency:
RE/MAX Alliance Group
(941) 284-7287
Listed By:
Patrick Ritchey · License #3028794
(941) 284-7287
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Aug 7 at 5:41AM
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 RE/MAX Alliance Group
Investment Insights
Based on property information with market context.
This five-unit apartment complex is located on a DTN-zoned corner lot in downtown Sarasota. The city zoning allows weekly rentals. Currently, all units are rented on month-to-month annual agreements at below-market rates. The property offers the option to purchase and earn rental income or develop within the DTN zoning. A common area laundry facility is available for tenants. Building #1 contains two 1-bedroom, 1-bath units. Building #2 features two 2-bedroom, 1-bath units. Building #3 is a cottage/studio. Situated in the rapidly growing downtown Sarasota area, the property is a few blocks from Main Street, with its restaurants, shops, and bars. It is also located two blocks from Sarasota City Park, which includes tennis courts, a playground, and a dog park surrounding a lake. The surrounding area features multimillion-dollar homes and deluxe condo developments near Gillespie Park. The location offers proximity to beaches and Sarasota Bay. This investment property presents significant income potential and future DTN development opportunities. The bike score is 70, indicating it is very bikeable, the walk score is 88, indicating it is very walkable, and the transit score is 43, indicating some transit options are available.
Key Highlights
- Downtown Sarasota corner lot zoned DTN with development potential and income generation.
- City zoning allows weekly rentals, increasing income potential.
- Seller financing available with attractive terms and balloon options.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,548
Businesses Nearby
Explore this area
Business Placement
Demographics for 34236, FL
14,083
Population
11,661
Households
1.2
Avg Household Size
66
Median Age
62%
College-Educated
96%
High-School Grad
3.6 sq mi
ZIP Area
3,912
Density / Sq Mi
$96,400
Median Household Income
$48,828
Median Earnings
$2,010
Median Rent
$917,100
Median Home Value
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?
Apartment building - Five-unit apartment complex in downtown Sarasota with development potential.
Where is this apartment building located?
The property is located at 503 N OSPREY Ave Sarasota, FL.
What is the asking price?
The asking price for this property is $1,199,999.
What are key features of this property?
This property features: Downtown Sarasota corner lot zoned DTN with development potential and income generation.; City zoning allows weekly rentals, increasing income potential.; Seller financing available with attractive terms and balloon options.
