More property info for 3812 BUTLER AVE
- Under contract-accepting backup offers. Investors, come check out this one-of-a-kind diamond in the rough 26-unit duplex community situated on 1.5 acre right in the middle of Sarasota!
Each unit is approximately 624 sq. feet of living space. All units are 2 bedrooms, 1 bathroom and have been owned and managed by one family for the past forty-one years!
Many tenants have been in their unit for 10 plus years so turnover is extremely low with occupancy rates in the 97-98% range yearly.
Rents are currently well below market values by hundreds of dollars per month per unit. Leases are currently on a month-to-month basis so a new investor can renovate one unit at a time and increase rents. One unit is currently being renovated and has a waiting list of tenants for almost 40 percent more than current rental rates. Located very near shops, restaurants, bus lines, and I-75 highway. The extreme need for affordable housing in the Sarasota area makes this property a truly fantastic opportunity. With renovation of each unit, this community has huge upside income potential.
****Do not disturb tenants or walk the property without your agent present***
Sold “As-IS” with right to inspect. Owners are motivated so bring us your offers. 6.5 miles to Lido Key beach and 9 miles to Siesta key beach. 7.5 miles to I-75 Highway.
- Appliances: Electric Water Heater, Range, Refrigerator
- Building Area Total: 16244
- Fireplace Y N: No
- Foundation Details: Block, Slab
- Interior Features: Eat-in Kitchen, Kitchen/Family Room Combo, Primary Bedroom Main Floor, Open Floorplan, Thermostat
- Levels: One
- Living Area: 16244
- Window Features: Aluminum Frames
- Carport Y N: No
- Exterior Features: Storage
- Garage Y N: No
- Lot Size Acres: 1.5
- Lot Size Square Feet: 65340
- Parking Features: Driveway, Off Street, Open
- Pool Private Y N: No
- Road Surface Type: Gravel
- Roof: Built-Up
- Waterfront Y N: No
- Cooling: Wall/Window Unit(s)
- Heating: Wall Units / Window Unit
- Sewer: Public Sewer
- Utilities: Cable Connected, Electricity Connected
- Water Source: Public
- Co List Office Name: FINE PROPERTIES
- List Office Name: FINE PROPERTIES
- List Agent Full Name: Cindy Lockhart
3812 BUTLER AVE Map Location
Monthly Payment for 3812 BUTLER AVE
This is an estimated monthly mortgage payment. Your actual financing will vary depending on your lender, local taxes, credit score and other factors.
| Loan Type: |
30 year fixed at 7.00% |
| Price: |
$3,000,000 |
| Down Payment: |
- |
$600,000
(20%)
|
| Loan Amount: |
= |
$2,400,000 |
| Principal & Interest: |
+ |
|
| Property Taxes: |
+ |
(1.5%) |
| Homeowner's Insurance: |
+ |
|
| Mortgage Insurance - PMI: |
+ |
|
| Total Payment: |
= |
|
Listing courtesy of FINE PROPERTIES
IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS
Listing information has been provided by Stellar MLS.Information obtained from Stellar MLS (My Florida Regional MLS) is current as of 4/30/2024 9:15 AM.
;