Multifamily

Promenade Apartments

Listing Price: $4,100,000

Cap Rate
5.03%
Number of Units
29
Price/Unit
$141,379
Price/Gross SF
$253.37
Gross SF
16,182

Investment Overview

29-Unit Multifamily Community in Sarasota, FL

Investment Highlights

  • Ability to Raise Rents by $260 Over the In-Place Rents Through Continuing Proven Value-Add Plan
  • Additional Upside Opportunity Through Adding Amenities Such as Washer/Dryer Appliances in All Units and New Swimming Pool
  • Meticulously Maintained with Minimal Deferred Maintenance
  • 1975-Built Asset with Low Maintenance Masonry Construction
  • Located in an IRS Designated Opportunity Zone
  • Very Well Located in the Class "A" Downtown Sarasota Submarket
  • Excellent Walkability – Steps from a Publix, Gulf of Mexico and the Main Street Dining & Retail Corridor
  • Qualifies for Attractive Agency Financing

Exclusively Listed By

Listing Price: $4,100,000

Cap Rate
5.03%
Number of Units
29
Price/Unit
$141,379
Price/Gross SF
$253.37
Gross SF
16,182

Investment Highlights

  • Ability to Raise Rents by $260 Over the In-Place Rents Through Continuing Proven Value-Add Plan
  • Additional Upside Opportunity Through Adding Amenities Such as Washer/Dryer Appliances in All Units and New Swimming Pool
  • Meticulously Maintained with Minimal Deferred Maintenance
  • 1975-Built Asset with Low Maintenance Masonry Construction
  • Located in an IRS Designated Opportunity Zone
  • Very Well Located in the Class "A" Downtown Sarasota Submarket
  • Excellent Walkability – Steps from a Publix, Gulf of Mexico and the Main Street Dining & Retail Corridor
  • Qualifies for Attractive Agency Financing

Investment Overview

29-Unit Multifamily Community in Sarasota, FL

Exclusively Listed By

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