Enticing turnkey investor special in one of the quietest corners of Sarasota Springs. Retiring landlord offers you the rare chance to snatch up this meticulously maintained, plug and play cash flowing asset at a 6% cap rate, with no repairs/improvements needed.
Cons: AC & WH 12 years old. Long term tenants leasing at well below market rents until Sept 2024, but open to moving out early. Pros: New roof 2022. Well maintained, with inspection and service records available. No significant deferred maintenance nor capital improvements needed. New attic insulation and gutters in 2011. Main sewer line snaked July 23. Large kitchen island, fully screened rear porch and stockade privacy fencing across entire backyard.
Investor notes:
Flip potential: $525k ARV, with modernized kitchen and open floor plan. Only value add potential is upgrades though.
LTR estimate: $2,500 /mo, with limited nearby competition. NOI estimate: $22k /yr. STR estimate: $73.7k yrly gross, at 282 /night, with 72% occupancy.
No HOA/CDD. Feel free to soft pitch offers to listing agent. Some flexibility on asking price. Full 2.5% cooperation with non-MLS agents. Just reach out to listing agent below for disclosures and MLS info sheet. Tenant occupied and needs 24 hour notice.