The Multifamily Firm is proud to present the sale of the Belmont on Beneva apartment complex in Sarasota Florida. The Belmont on Beneva consists of 33 total units, in 5 buildings, on 1 parcel of land. The property is ideally located less than 3 miles from Downtown Sarasota, and is just a short commute to Siesta Key, Longboat Key, University Town Center, and numerous employment hubs. In addition, the property sits just north of a new Benderson Development on the corner of Fruitville & Beneva Road; “Town & Country Plaza”; which when completed will further strengthen the demand of the area.
Belmont on Beneva was recently been updated with new modern exterior painting, and 55% of the units have been updated with new porcelain wood plank flooring. The property features a favorable unit mix of 97% large two/three bedroom units with screened in lanai's and a swimming pool in the center of the complex. Belmont on Beneva is a textbook value-add opportunity, and provides an investor with strong upside to achieve nearly $200/month/unit average rental premiums with strategic interior renovations.
