UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 4,435 sqft
Price per Sqft $541
MLS Listing ID A4688518
Construction Status Completed
HOA Y/N No
Year Built 1984
Annual Tax Amount $9,328
Lot Size 0.290 Acres
Acres 0.29
Property Sub-Type Mixed Use
Source Stellar MLS
New Construction false
Property Description
Exceptional opportunity to acquire a high-performing multifamily investment just minutes from world-renowned Siesta Key Beach. Positioned on Siesta Drive—the gateway to Siesta Key—this offering includes two adjacent triplexes on separate parcels, with the potential to expand to 8 units. Currently 7 rented and rentable units.
The property features a diverse unit mix of 1BR, 2BR, 3BR, and studio layouts, designed to maximize rental income and appeal to both long-term tenants and short-term vacation renters. Zoned for weekly rentals (7-day minimum) within city limits, the asset benefits from strong, proven income performance, including established Airbnb 5-star hosting history.
Extensive capital improvements have been completed, including newer roofs (2016–2017), updated siding, modern A/C systems, hot water heaters (2021+), appliances, exterior plumbing, fencing, and security lighting with cameras. The property is professionally landscaped and offers on-site laundry, with the ability to add private laundry to each unit.
Tenants pay utilities, supported by 7 separate water and electric meters, minimizing owner expenses and enhancing net operating income.
Ideally located just blocks from the North Bridge and within walking distance to shopping, dining, and daily conveniences. Situated in an X flood zone, means no flood insurance is required and Level D evacuation zone.
The property offers ample on-site parking for up to 17 vehicles, with additional space for boats, kayaks, and recreational equipment.
Offering includes both parcels (must be sold together):
1761 Siesta Dr & 1760 Wisconsin Ln
Investment Highlights:
~7.45% Cap Rate
Under $20K Annual Expenses
Projected Gross Income: $175K–$200K+
Significant Upside Potential
Do not disturb tenants. Showings by appointment only; listing agent must accompany all showings.
Location
State FL
County Sarasota
Area 34239 - Sarasota/Pinecraft
Interior
Heating Central, Electric
Cooling Central Air
Flooring Terrazzo, Tile, Vinyl
Appliance Dishwasher, Dryer, Microwave, Refrigerator, Washer
Exterior
Utilities Available Electricity Available, Public, Water Connected
Roof Type Shingle
Building
Entry Level One
Foundation Block
Lot Size Range 1/4 to less than 1/2
Sewer Public Sewer
Water Public
Structure Type Block,Concrete
New Construction false
Construction Status Completed
Others
Ownership Fee Simple
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition None
Virtual Tour https://www.propertypanorama.com/instaview/stellar/A4688518
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