Bought with
170 ROOSEVELT DR #6 Sarasota, FL 34236
5 Baths
294 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 294 sqft
Price per Sqft $5,442
Subdivision Pelican Gardens
MLS Listing ID A4670924
Construction Status Completed
HOA Fees $595/mo
HOA Y/N Yes
Annual Recurring Fee 7140.0
Year Built 1955
Annual Tax Amount $21,500
Lot Size 0.900 Acres
Acres 0.9
Property Sub-Type Multi Family
Source Stellar MLS
New Construction false
Property Description
A rare opportunity to acquire a fully operating short-term rental portfolio on South Lido Key, one of Sarasota's most coveted coastal markets. This offering includes five updated studio units within a boutique beachside community just steps from two direct beach access points and a short ride to St. Armands Circle.
Each unit is managed, actively listed, and consistently booked, delivering proven performance and strong guest demand year-round. These condos have a long track record as successful Airbnb rentals, with 2024 gross income averaging $38,470 per unit and portfolio-wide net income of $113,255 after HOA, taxes, utilities, and cleaning expenses. This is a cash-flowing, turnkey asset in a high-barrier-to-entry vacation rental market.
The property features a community pool and sliding glass access private patios for each unit, creating the indoor/outdoor lifestyle guests expect on Lido. Interiors have been updated over the years and show pride of ownership throughout. Major mechanical systems are in good condition, with recent A/C and hot water tank replacements across the portfolio for peace of mind.
Unit Renovation & Mechanical Summary:
• Unit 2 – Updated | AC ~4 yrs | WH • Unit 6 – Updated | AC ~4 yrs | WH • Unit 10 – Updated | AC ~2 yrs | WH • Unit 11 – Updated | AC ~3 yrs | WH • Unit 12 – Updated | AC ~2 yrs | WH
This type of offering is rarely available — a multi-unit STR package on Lido Key with documented income history, repeat traveler base, and proven operational infrastructure already in place. Keep as a turnkey portfolio, self-manage, or explore value-add improvements and dynamic pricing to further enhance returns.
5 units. One unbeatable coastal investment. Opportunities like this do not come around often.
Location
State FL
County Sarasota
Community Pelican Gardens
Area 34236 - Sarasota
Zoning RMF3
Interior
Interior Features Ceiling Fans(s), Open Floorplan, Solid Wood Cabinets, Stone Counters, Thermostat, Window Treatments
Heating Central
Cooling Central Air
Fireplace false
Laundry Inside
Exterior
Exterior Feature Courtyard, Fence, Garden, Storage
Utilities Available Public
View Garden, Trees/Woods
Roof Type Shingle
Garage false
Private Pool No
Building
Foundation Slab
Lot Size Range 1/2 to less than 1
Sewer Public Sewer
Water Public
Structure Type Block
New Construction false
Construction Status Completed
Others
Pets Allowed No
Senior Community No
Ownership Condominium
Monthly Total Fees $595
Acceptable Financing Cash, Conventional
Membership Fee Required Required
Listing Terms Cash, Conventional
Special Listing Condition None
Virtual Tour https://www.propertypanorama.com/instaview/stellar/A4670924
