$420,000 Multifamily for Sale — 1610 22nd St, Sarasota, FL 34234, USA

1610 22nd St, Sarasota, FL 34234, USA

Summary

This is a multifamily property for sale at 1610 22nd St, Sarasota, FL 34234, USA, listed at $420,000. The property has 2 units, 1,625 square feet, built in 1962. Financials show net operating income of $28,251, a 6.7% cap rate, gross income of $40,200 based on seller figures. This deal offers creative financing.

Key facts

Asking price: $420,000
Property type: Multifamily
Cap rate: 6.7%
NOI: $28,251
Gross income: $40,200
Occupancy: 100%
Price / unit: $210,000
Expense ratio: 28.3%
Units: 2
Building SF: 1,625
Lot (acres): 0.16
Year built: 1962
Zoning: RSF4

Description

Open to creative financing. See mortgage statement in documents. Will need to be SUB TO and will hold a second position. The property features two separately metered units, offering strong rental appeal and ease of management: Unit 1: 3 bedrooms, 1 bathroom Unit 2: 2 bedrooms, 1 bathroom Both units are tenant-occupied with long-term leases in place, generating a gross monthly rent of $3,350. Tenants pay their own water and electric, keeping operating expenses low for the owner. Situated on a desirable corner lot, the property also includes laundry hookups for added tenant convenience. Major updates have already been completed, providing peace of mind for investors: Newer roof Updated central A/C units Upgraded electrical and plumbing systems Unique Financing Opportunity: The seller is open to creative financing options and currently has a mortgage on the property, making this an excellent opportunity for buyers seeking flexible terms.