Four-Unit Apartment
610 East Avenue Sarasota, FL 34237
610 East Avenue, Sarasota, FL, 34237
Contact for pricing
For Sale
Contact for pricing
Four units in two masonry buildings on one parcel with Downtown Neighborhood Zoning and seller financing available.
Property Size2,171 SF
Lot Size0.22 Acres
Price / SF$312.99
Days on Market43
Property Features for 610 East Avenue
General Information
- Standard status
- Active
- Size
- 2,171 SF
- Lot size
- 0.22 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1951
Listing agency
The Multifamily Firm
(941) 444-6160
Listed by
Phil Ginexi · License #FL SL3266689
Source
Crexi
Added: Jun 9 Updated: Jul 21 at 12:23AM Checked: Jul 21 at 12:23AM
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 The Multifamily Firm
Investment Insights
Based on property information with market context.
East Avenue Apartments is a 4-unit apartment community arranged in two masonry buildings on a single parcel totaling 0.22 acres. The property is being offered for sale with favorable seller financing (see Offering Memorandum for details).
Located in downtown Sarasota, the community is described as being just blocks from the urban core. It benefits from Downtown Neighborhood Zoning (DTN), which may support future redevelopment potential. The remarks also note the property’s proximity to Main Street, Payne Park, the Rosemary District, Sarasota’s Bayfront, and the Legacy Trail connection. Buyers may also have the potential to acquire an adjacent parcel, expanding the site to a combined 0.35 acres (see OM for details).
Located in downtown Sarasota, the community is described as being just blocks from the urban core. It benefits from Downtown Neighborhood Zoning (DTN), which may support future redevelopment potential. The remarks also note the property’s proximity to Main Street, Payne Park, the Rosemary District, Sarasota’s Bayfront, and the Legacy Trail connection. Buyers may also have the potential to acquire an adjacent parcel, expanding the site to a combined 0.35 acres (see OM for details).
Key Highlights
- 4‑unit apartment community built in 1951 in two masonry buildings
- All 4 units are on one parcel totaling 0.22 acres
- Downtown Neighborhood Zoning (DTN) noted, offering redevelopment potential
Local 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 | $43.0k | $19.80 |
| − Vacancy | −$2.2k | −$1.03 |
| EGI | $40.7k | $18.77 |
| − OpEx | −$12.2k | −$5.63 |
| NOI | $28.5k | $13.14 |
2,171 SF · lease $19.80/SF/yr · vacancy 5.22% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$407.4K
$356.5K – $475.3K
NOI $28,519 @ 7.0% cap · market cap 4.20%
Second Best
Apartment 5plus
$375.3K
$328.4K – $437.8K
NOI $26,269 @ 7.0% cap · market cap 3.87%
Theoretical Best
Office A
$638.4K
$558.6K – $744.8K
NOI $44,690 @ 7.0% cap · market cap 6.58%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four units in two masonry buildings on one parcel with Downtown Neighborhood Zoning and seller financing available.
Where is this quadplex located?
The property is located at 610 East Avenue Sarasota, FL.
What is the asking price?
The asking price for this property is $679,500.
What are key features of this property?
This property features: 4‑unit apartment community built in 1951 in two masonry buildings; All 4 units are on one parcel totaling 0.22 acres; Downtown Neighborhood Zoning (DTN) noted, offering redevelopment potential
