941 Virginia Dr Sarasota, FL 34234

Property Details for 941 Virginia Dr

Year built

1945

Property size

3,492 SF

Property type

Residential income homes

Description

This exceptional Sarasota, Florida investment opportunity presents a turnkey, four-unit vacation rental portfolio boasting a substantial 10.07% cap rate and a strong $221,449 NOI. The property, situated on a spacious 16,233 sq ft lot at 941 Virginia Dr, Sarasota, FL 34234, comprises 3,492 sq ft of meticulously renovated space, including a main residence and three additional units. Built in 1945 and extensively renovated between 2014 and 2024, the property features a blend of historic charm and modern amenities. The main residence offers two bedrooms, one and a half baths, an office, and a private backyard retreat. An additional two-bedroom, one-bathroom in-law suite and a one-bedroom, one-bathroom accessory dwelling unit, each with its own private pool (one with a spa), provide ample rental income. A recently permitted garage conversion adds further potential. The property includes four parking spaces and is zoned RSF3. Each unit is distinctly separate, ensuring maximum guest privacy. This established property, with nine years on VRBO and Airbnb and over 400 five-star reviews, enjoys a prime location near Sarasota's cultural and educational institutions, just two miles from downtown and a short drive to Lido and Longboat Key beaches. The asking price is $2,200,000, with a price per unit of $550,000 and a price per square foot of $630.01. The property is fee simple ownership with an occupancy date of August 18, 2024.