4062 Lake Forest Drive Sarasota FL 34233

Multi-Family for Sale
Catylist Listing ID: 30130503
Property Subtypes: Low-Rise/Garden, Mixed Use, Senior Living
Number of Units: 10 Units
Building Size (RSF): 14,316 SF
Gross Building Area: See Agent
Gross Land Area: 6.43 Acres
Sale Price: $1,900,000
Unit Price: $190,000 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/31/2017

Overview / Comments

Price Reduced Motivated Seller

Tremendous Redevelopment Opportunity in prime Sarasota location.
6.43 Park like Acres sits well back off Bee Ridge Road.
Property enjoys a tranquil environment in a natural setting.
The property is partially developed with 10 completed 2 Br 2 Bath units of approximately 1,100 each.
Collect $132,000 in gross rents while waiting for Redevelopment!
Possible rezone to RMF 3 up to 80 units, or OPI, Office or Medical Center
County sewer and water available.
Existing infrastructure includes Club House, Pool, paved road, 2 tennis courts, possible existing retention pond exists for storm water runoff.

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Tax ID/APN: 0070030005
Community Amenities: Outdoor Pool, Community Building, Recreation Room, Exercise Room, Tennis Courts
Property Located Between: Bee Ridge Road and Beneva
Area Description: Close to major retail trade areas, medical centers and hospitals. Lake Forest Drive dead ends into property right off Bee Ridge Road. Retail shopping, banking, medical centers galore all around property.
Property Condition: Good
Number of Stories: 2
Zoning Description: RMF 2

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,772 100,009 167,891
Median Age: 45.78 48.48 48.3
Households: 6,252 46,384 76,968


Photograph of Listing Agent

Kevin T Riordan PA

Merritt Realty Corporation
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