420 KUMQUAT CT, SARASOTA, FL, 34236
$1,525,000
Residential Income
|
Bedrooms
4
|
Bathrooms
3
|
Living Area
1,824 Sqft
|
Lot Size
5,900 Sqft
|
Located in the dynamic Rosemary District, 420 Kumquat Court presents a compelling opportunity for investors and developers seeking position and flexibility in a downtown growth corridor. The property includes an existing triplex generating more than $5,000 per month in potential rental income, offering immediate cash flow while future development plans are evaluated.
Zoned Downtown Edge (DTE), the site allows for residential, commercial or mixed-use development. The property is adjacent to Villa Ballada, a newly constructed five-story mixed use condominium featuring 24 residences, reinforcing the area’s continued investment and redevelopment momentum.
An additional opportunity exists with the neighboring parcel to the south currently available. With a combined acquisition cost of $3,220,000, this option presents the potential for increased density, with the possibility to develop up to 24 residential units, subject to municipal approvals. The seller can also transfer plans for a seven-unit condominium project designed by award-winning Halflants + Pichette, providing a ready framework for development.
Positioned within approximately six blocks of more than 60 restaurants, Sarasota Farmers Market, Sarasota Bayfront, Whole Foods Market and Sarasota’s arts and theater district, the location supports strong walkability and long-term demand. The Bay Park, a 53-acre waterfront park, is approximately four blocks away, with additional access to Payne Park and Legacy Trail.
Connectivity is enhanced by the Bay Runner Trolley, offering service from downtown to St. Armands Circle and Lido Beach.
This offering combines current income with future development potential in one of Sarasota’s most active urban districts.
Property Details
| Property Features | Property Features | |||
|---|---|---|---|---|
| MLS ID: | MFRA4689791 | Year Built: | 1981 | |
| Appliances: | Dishwasher, Electric Water Heater, Freezer, Microwave, Range, Refrigerator | Construction Materials: | Stucco | |
| Cooling: | Wall/Window Unit(s) | Country: | US | |
| County Or Parish: | Sarasota | Exterior Features: | Lighting | |
| Flooring: | Carpet, Laminate, Tile | Foundation Details: | Slab | |
| Furnished: | Unfurnished | Heating: | Electric | |
| Laundry Features: | Outside | Levels: | Three Or More | |
| Listing Agreement: | Exclusive Right To Sell | Listing Terms: | Cash, Conventional, Owner Financing | |
| Lot Features: | Historic District, City Limits, Paved | Other Structures: | Shed(s) | |
| Parking Features: | Driveway, Ground Level, Open | Patio And Porch Features: | Covered, Front Porch, Porch | |
| Pets Allowed: | Cats OK, Dogs OK | Pool Features: | Screen Enclosure | |
| Property Condition: | Completed | Property Sub Type: | Triplex | |
| Property Type: | Residential Income | Road Responsibility: | Public Maintained Road | |
| Road Surface Type: | Asphalt | Roof: | Shingle | |
| Security Features: | Smoke Detector(s) | Sewer: | Public Sewer | |
| Showing Requirements: | 24 Hour Notice, Call Listing Agent 2, Call Listing Agent, Call Listing Office, Do Not Contact Tenants, Listing Agent Must Accompany, See Remarks, ShowingTime | Special Listing Conditions: | None | |
| Standard Status: | Active | State Or Province: | FL | |
| Tenant Pays: | Electricity, Sewer, Trash Collection, Water | Utilities: | Cable Available, Electricity Connected, Sewer Connected | |
| View: | Trees/Woods | Water Source: | Public | |
| Window Features: | Blinds, Window Treatments | |||
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