REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Brian Hawes

brian.hawes@engelvoelkers.com +1(760) 828-8340

$ 3,395,000

Est. payment -/mo

Save Virtual Tour

Active

527 BEACH RD Sarasota, FL 34242

4 Beds

3 Baths

1,803 SqFt

UPDATED:

06/05/2024 11:56 PM

Key Details

Property Type Multi-Family

Sub Type Duplex

Listing Status Active

Purchase Type For Sale

Square Footage 1,803 sqft

Price per Sqft $1,882

Subdivision Sarasota Beach

MLS Listing ID G5082108

Bedrooms 4

HOA Y/N No

Originating Board Stellar MLS

Year Built 1985

Annual Tax Amount $22,790

Lot Size 7,405 Sqft

Acres 0.17

Property Description

Presenting an exclusive opportunity on Siesta Key Beach – an exceptional duplex for your consideration. This is situated directly on Beach Road, boasting a consistent income stream. It can be retained as a lucrative investment or transformed into a grand three-story duplex with the potential for even greater returns. This property is divided into two separate units: a 2-bedroom, 2-bathroom unit and a 2-bedroom, 1-bathroom unit. With its rare zoning approval for short-term and nightly rentals, this property is perfect for use as a primary home, vacation home, or income-generating investment. This home's revenue is sure to exceed your expectations. All aspects of the rental, including cleaners, management, and handyman services, are already in place, ensuring a seamless and hassle-free transition. This property has earned a 4.9-star rating as a VRBO 'Premier Host and is recognized as an Airbnb 'SuperHost'. Included is an already preapproved plan with permits paid and engineered drawings approved to enclose the bottom garage area, adding an additional 2,000 square foot of space. Custom murals throughout the house making it one of the most sought after and unique homes on Siesta Key. Both units have undergone recent upgrades, including new floors, fresh paint, new bathrooms, and stylish new furnishings. Local artist-created custom murals provide pops of color to the traditional shiplap walls, and built-ins. The kitchens feature granite countertops and stainless-steel appliances, and the exteriors offer new fencing, a stone-paved patio with two grills, 2 private hot tubs, 2 tiki huts and a large heated pool. Entire in-house property management, cleaners, handyman, etc to stay with the sale making it turnkey and easy to operate. The management fee cost is about 3.5%, not the standard 20% as in most cases. The home brought in over $386,000 gross in last 12 months. Gross cap rap is at 11%. This is unheard of on such a great property that will continue to grow in value.

Location

State FL

County Sarasota

Community Sarasota Beach

Zoning RMF1

Interior

Interior Features Open Floorplan, Stone Counters, Thermostat, Vaulted Ceiling(s)

Heating Central, Electric

Cooling Central Air

Flooring Luxury Vinyl

Furnishings Furnished

Fireplace false

Appliance Dishwasher, Dryer, Electric Water Heater, Exhaust Fan, Ice Maker, Microwave, Range, Refrigerator, Washer

Laundry Inside

Exterior

Exterior Feature Balcony, Outdoor Shower

Garage Driveway

Pool Heated

Utilities Available Cable Connected, Electricity Connected, Sewer Connected, Street Lights, Water Connected

Waterfront false

View Water

Roof Type Shingle

Porch Deck, Front Porch, Porch, Rear Porch

Parking Type Driveway

Garage false

Private Pool Yes

Building

Lot Description Flood Insurance Required, FloodZone

Entry Level Two

Foundation Stilt/On Piling

Lot Size Range 0 to less than 1/4

Sewer Public Sewer

Water Public

Structure Type Wood Frame,Wood Siding

New Construction false

Others

Pets Allowed Yes

Senior Community No

Ownership Fee Simple

Acceptable Financing Cash, Conventional, Other

Listing Terms Cash, Conventional, Other

Special Listing Condition None

Listed by LIST NOW REALTY, LLC

Brian Hawes

Advisor | License ID: SL3425990

+1(760) 828-8340

GET MORE INFORMATION