Downtown Sarasota Five-Unit Apartment
503 N Osprey Ave, Sarasota, FL 34236
For Sale
$1,159,999
Five-unit apartment complex in downtown Sarasota with development potential.
Property Size2,958 SF
Price / SF$392.16
Days on Market200
Property Features for 503 N Osprey Ave
General Information
Standard status
Size
Property subtype
Building Details
Year Built
Listing Agency:
RE/MAX ALLIANCE GROUP
Listed By:
Patrick Ritchey · License #3028794
(941) 284-7287
Source:
Whitesandsfl
Added: Apr 24
Changed: Oct 26
Last Checked: Oct 7 at 5:24PM
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
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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
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Location Intelligence
Trade Area within ½ mile
6,319
Businesses Nearby
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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
$917,100
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Sarasota, FL
Properties on Market for Apartment buildings in Sarasota
Vacancy Rate% for Multifamily in South region
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 $1,159,999.
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.
