3917 Royal Palm Avenue, Sarasota, FL 34234
- $524,900
- 3
- BD
- 4
- BA
- 2,962
- SqFt
- List Price
- $524,900
- Status
- Active
- Days on Market
- 6
- MLS#
- A4700635
- Property Style
- Quadruplex
- Year Built
- 1953
- Bedrooms
- 3
- Bathrooms
- 4
- Living Area
- 2,962
- Lot Size
- 17,555
- Acres
- 0.40
- Total Acreage
- 1/4 to less than 1/2
- Legal Subdivision Name
- Marlowe Park
- Community Name
- Marlowe Park
- MLS Area Major
- Sarasota
Property Description
Virtually Staged. Rare 4-unit multifamily income opportunity in Sarasota's North Trail corridor, just minutes from downtown Sarasota, the bayfront, and the Ringling College of Art & Design district. The offering pairs dependable in-place cash flow with real value-add and redevelopment upside on an oversized ~0.40-acre city lot (17,555 SF). Four income-producing units include three residences at 3917 (a 1BR/1BA plus two efficiencies) and a spacious 2BR-plus-bonus home at 3919, with the 3919 unit turning now and targeting a market lease. All units are currently month-to-month, giving a new owner full flexibility to raise rents to market or reposition on their own timeline, with no long-term leases to inherit and clear upside as rents step up. Recent ownership has reinvested in the major systems, lowering near-term capital exposure: the shared 3917 roof was replaced within the last five years, water heaters for the three 3917 units were updated in 2023, and Unit A carries a 2022 AC air handler, while 3919 adds a newer AC and water heater, a carport, and a paved patio. Located in the City of Sarasota's North Trail redevelopment overlay, the parcel offers long-term assemblage and development optionality in one of Southwest Florida's most supply-constrained infill pockets, backed by steady rental demand from the surrounding Ringling College submarket. Offered at $524,900
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Additional Information
- Taxes
- $7573
- Annual Gross Income
- 57840
- Community Features
- No Deed Restriction
- Zoning
- NT
- Interior Layout
- Ceiling Fans(s)
- Interior Features
- Ceiling Fans(s)
- Utilities
- Electricity Available, Water Available
- Heating
- Other, Ductless
- Air Conditioning
- Wall/Window Unit(s)
- Exterior Construction
- Block
- Exterior Features
- Fence
- Roof
- Shingle
- Foundation
- Slab
- Pool
- No Pool
- Garage Carport
- 1 Car Carport
- Flood Zone Code
- X
- Parcel ID
- 2004100001
- Legal Description
- BEG NE COR TRACT 2 TH S 100 FT TH W 175.8 FT TH N 99.96 FT TH E 173.4 TO POB BEING PART OF TRACT 2 MARLOWE PARK
Listing courtesy of HARRY ROBBINS ASSOC INC. 941-924-8346
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