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James Meyer

[email protected] +1(561) 228-4888

$ 2,650,000

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6550 SABAL DR Sarasota, FL 34242

4 Beds

3 Baths

1,988 SqFt

UPDATED:

09/11/2024 06:43 PM

Key Details

Property Type Multi-Family

Sub Type Duplex

Listing Status Active

Purchase Type For Sale

Square Footage 1,988 sqft

Price per Sqft $1,332

Subdivision Sabal Palms

MLS Listing ID A4620157

Bedrooms 4

HOA Y/N No

Originating Board Stellar MLS

Year Built 1952

Annual Tax Amount $14,378

Lot Size 9,147 Sqft

Acres 0.21

Property Description

Experience the best of Siesta Key with this vibrant two-unit duplex property, ideally located just steps from the stunning Crescent/Siesta Key Beach. This unique property is perfect for investors or those seeking a vacation home, offering both exceptional income potential and a prime location. The property features two units: Unit A, a spacious 3-bedroom, 2-bathroom residence with a heated inground saltwater pool and an above-ground hot tub; and Unit B, a cozy 1-bedroom, 1-bathroom unit with its own private above-ground pool and hot tub. Both units are decorated with fun, energetic, and colorful decor, including custom murals by local artists that add vibrant pops of color to the traditional shiplap walls. Recent upgrades include new floors, fresh paint, modern bathrooms, and stylish new furnishings. The kitchens in both units are equipped with granite countertops and stainless-steel appliances, ensuring a modern and comfortable living experience. The exterior of the property is equally impressive, featuring new fencing, a stone-paved patio with two grills, and private pools and hot tubs for each unit. This property is not only aesthetically pleasing but also functionally superior, having earned a 4.9-star rating as a VRBO 'Premier Host' and recognized as an Airbnb 'SuperHost'. The property is zoned for short-term and nightly rentals, making it an excellent investment opportunity. Tucked away on a peaceful cul-de-sac, this property offers privacy while being within walking distance to the beach, local restaurants, bars, grocery stores, and shops. Guests can enjoy easy access to rental shops for boating, kayaking, jet skiing, and other water sports, enhancing the vacation experience. The property is a short five-minute drive from Publix, adding convenience for both guests and owners. With in-house property management, cleaners, and handyman services already in place, the transition will be seamless and hassle-free. The current management fee is a low 3.5%, compared to the standard 20% in most cases. This turnkey operation generated $286,000 in gross income over the past 12 months, with a gross cap rate of 10%, and is projected to increase rental income by 20% next year with the newly renovated and added amenities. This massive income-producing duplex is a rare find in Siesta Key, combining a fun, Instagram-worthy atmosphere with substantial financial benefits. Don't miss out on this exceptional opportunity to own a piece of paradise that promises both enjoyment and profit. Contact us today to schedule a showing and discover why this property is one of the most sought-after investments in Siesta Key.

Location

State FL

County Sarasota

Community Sabal Palms

Zoning RMF1

Interior

Interior Features Open Floorplan, Primary Bedroom Main Floor, Stone Counters

Heating Central, Electric

Cooling Central Air

Fireplaces Type Wood Burning

Fireplace true

Laundry Electric Dryer Hookup, Inside, Laundry Closet, Washer Hookup

Exterior

Exterior Feature Fence

Pool Auto Cleaner, Deck, Heated, In Ground, Salt Water

Utilities Available Cable Connected, Electricity Connected, Sewer Connected, Street Lights, Water Connected

Waterfront true

Waterfront Description Canal - Brackish

View Y/N Yes

Water Access Yes

Water Access Desc Canal - Brackish

Roof Type Shingle

Garage false

Private Pool Yes

Building

Foundation Slab

Lot Size Range 0 to less than 1/4

Sewer Public Sewer

Water Private

Structure Type Wood Frame,Wood Siding

New Construction false

Others

Senior Community No

Ownership Fee Simple

Acceptable Financing Cash, Conventional, Owner Financing

Listing Terms Cash, Conventional, Owner Financing

Special Listing Condition None

Listed by CATALIST REALTY LLC

James Meyer

Real Estate Broker

+1(561) 228-4888

James Meyer

6550 SABAL DR Sarasota, FL 34242

Key Details

Location

Interior

Exterior

Building

Others

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6550 SABAL DR