Roy's Place | 941 Virginia Dr
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Roy's Place 941 Virginia Dr
4 Unit Apartment Building $1,999,000 ($499,750/Unit) 11.08% Cap Rate Sarasota, FL 34234
Investment Highlights
- Prime location in Indian Beach only a block from the Sarasota Bayfront.
- Enviable location surrounded by a wealth of attractions.
- The prime location ensures an enticing living experience for residents and presents a promising investment opportunity.
- Nestled in the vibrant Indian Beach Sarasota area.
- Just moments away from the renowned cultural scene of downtown Sarasota.
Executive Summary
Well-established 4 suite vacation rental and incredible INCOME OPPORTUNITY!
Vintage elegance meets modern convenience in this stunning property located in the coveted Indian Beach neighborhood, just a block from a picturesque Sarasota Bayfront park. This unique income opportunity boasts established rental units that promise not only charm but also incredible income potential with 9 years of repeat vacation rental clients and over 400 five star reviews. The property offers flexible rental options to suit various needs: monthly rentals for long-term residents, short term leases for temporary stays, or the opportunity to maximize income by renting out all four units as vacation rentals.
Vintage elegance meets modern convenience in this stunning property located in the coveted Indian Beach neighborhood, just a block from a picturesque Sarasota Bayfront park. This unique income opportunity boasts established rental units that promise not only charm but also incredible income potential with 9 years of repeat vacation rental clients and over 400 five star reviews. The property offers flexible rental options to suit various needs: monthly rentals for long-term residents, short term leases for temporary stays, or the opportunity to maximize income by renting out all four units as vacation rentals.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,999,000 | Building Class | B |
| Price Per Unit | $499,750 | Lot Size | 0.37 AC |
| Sale Type | Investment or Owner User | Building Size | 3,610 SF |
| Cap Rate | 11.08% | Average Occupancy | 83% |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1945/2017 |
| Property Subtype | Apartment | Parking Ratio | 1.11/1,000 SF |
| Price | $1,999,000 |
| Price Per Unit | $499,750 |
| Sale Type | Investment or Owner User |
| Cap Rate | 11.08% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.37 AC |
| Building Size | 3,610 SF |
| Average Occupancy | 83% |
| No. Stories | 1 |
| Year Built/Renovated | 1945/2017 |
| Parking Ratio | 1.11/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1.5 | 1 | - | - |
| 2+1 | 1 | - | - |
| 1+1 | 2 | - | - |
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Bike Score ®
Very Bikeable (76)
zoning
| Zoning Code | RSF3 (Recognized as Multi-Family use in Sarasota County.) |
| RSF3 (Recognized as Multi-Family use in Sarasota County.) |
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Roy's Place | 941 Virginia Dr
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