Prime investment opportunity directly on prestigious Beach Road in Siesta Key. This fully renovated, raised multi unit property offers strong short term rental income potential in one of Florida's most desirable coastal markets. The side by side duplex features a spacious 2 bedroom, 2 bathroom unit and a 2 bedroom, 1 bathroom unit. Zoned RMF and legally permitted for nightly rentals, making it ideal for vacation rental investors. The current owner is available to continue managing the property for the next owner at only a 10 percent fee, with staff, cleaning crew, and maintenance vendors already in place.
The property generated $393,000 in gross income in 2023, $323,000 in 2024 (with two months of downtime due to hurricane impact), and $291,000 in 2025 (still down from hurricane related effects), with 2026 year to date income of $192,000 through July.
Recent updates include new AC systems in 2022, updated flooring in 2025, modernized plumbing in 2022, full electrical upgrades in 2022, and private hot tubs installed at each unit in 2022.
Additional upside exists with completed engineering drawings to enclose the lower level, adding approximately 2,000 square feet and significant rental income potential. Just steps from the sand and close to Siesta Key Village shops and restaurants, this is a rare chance to own an income producing property in one of the top beach destinations in the country.
Property is part of a very successful Airbnb portfolio consisting of three duplexes with cap rates exceeding 10 percent. Please inquire for details.
Property Details
- Interior
- Cathedral Ceiling(s), Living Room/Dining Room Combo, Open Floorplan
- Heating
- Central, Electric
- Cooling Features
- Central Air
- Bedrooms
- 4
- Bathrooms
- 3.0
- Full Baths
- 3
- Stories
- 2
- Exterior Materials
- Outdoor Grill, Outdoor Shower
- Acres
- 0.17
- Square Feet
- 1803.0
- Parking Spaces
- 4
- Parking Type
- Carport
- Parking Carport Spaces
- 4.0
- Property Type
- Purchase
- Year Built
- 1985
- Foundation
- Slab
- Roof
- Shingle
- Sewer Information
- Public Sewer
- Utility Source
- Public
- Utility Features
- Cable Available, Electricity Connected, Sewer Connected
- Appliances
- Dishwasher, Dryer, Microwave, Range, Refrigerator
- Subdivision
- SARASOTA BEACH
- County
- Sarasota
- Region
- SARASOTA
- Zoning
- RMF1
- Original List Price
- $2,799,000
- Days on Market (Cumulative)
- 10
- Taxes Annual
- $18,980
- Ownership
- Fee Simple
- MLS #
- TB8542235
Location
Legal
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Some IDX listings have been excluded from this website. Listing Information presented by local MLS brokerage: Renaissance Realty Group
Provided By
Listed by Steve Fingerman (#MFR262002119)
Listing Office: PEOPLE'S TRUST REALTY (#MFR262003054)
