4001 GROVELAND AVE, SARASOTA, FL, 34231
$1,500,000
Residential Income
|
Bedrooms
10
|
Bathrooms
5
|
Living Area
4,291 Sqft
|
Lot Size
25,830 Sqft
|
LOCATION LOCATION LOCATION! Sarasota's hottest zip code is Presenting a strong multifamily investment opportunity just minutes from Siesta Key, this 5-unit hotel/ motel property offers current income, flexible rental options, and long-term upside in one of Sarasota’s most desirable rental markets. Located in a non-flood zone approximately 4 miles from Siesta Key Beach, the property is well positioned for long-term tenants, seasonal rentals, or potential short-term rental strategies.
The building includes five 2-bedroom, 1-bath units, each offering broad tenant appeal and turnkey convenience. Long-term tenants are currently in place, while the property has the availability to hold a motel/hotel license, creating additional flexibility for future ownership and rental operations.
Investor-friendly features include individually metered utilities, public water and sewer, paved parking, no required flood insurance, and reported general liability insurance of approximately $460. Recent improvements include exterior paint in 2024, remodeled kitchens in Units 2, 3, and 4 in 2024, updated bathrooms, major plumbing replacement completed in 2009 and 2010, roof replacement in 2014, blown-in roof insulation.
The property also offers private amenities that help set it apart from typical multifamily options, including a heated and cooled swimming pool, screened patio room, and tropical outdoor space designed to enhance tenant or guest enjoyment.
With current income, multiple rental strategy options, turnkey units, and a prime Sarasota location near Siesta Key, this property is a compelling opportunity for investors seeking cash flow, flexibility, and long-term appreciation potential. Schedule your private showing today.
Property Details
| Property Features | Property Features | |||
|---|---|---|---|---|
| MLS ID: | MFRA4691652 | Year Built: | 1974 | |
| Appliances: | Dishwasher, Dryer, Microwave, Range, Range Hood, Refrigerator, Washer | Construction Materials: | Stucco | |
| Cooling: | Central Air | Country: | US | |
| County Or Parish: | Sarasota | Exterior Features: | Lighting, Rain Gutters, Sidewalk | |
| Flooring: | Ceramic Tile | Foundation Details: | Slab | |
| Furnished: | Turnkey | Heating: | Central, Electric | |
| Laundry Features: | Inside, Laundry Closet | Listing Agreement: | Exclusive Right To Sell | |
| Listing Terms: | Cash, Conventional | Lot Features: | In County, Paved | |
| Occupant Type: | Tenant | Patio And Porch Features: | Covered, Patio, Porch, Screened | |
| Pool Features: | Heated, In Ground | Property Sub Type: | Quadruplex | |
| Property Type: | Residential Income | Road Surface Type: | Asphalt, Paved | |
| Roof: | Shingle | Security Features: | Smoke Detector(s) | |
| Sewer: | Public Sewer | Showing Requirements: | Other | |
| Special Listing Conditions: | None | Standard Status: | Active | |
| State Or Province: | FL | Tenant Pays: | Electricity | |
| Utilities: | BB/HS Internet Available, Cable Available, Electricity Connected, Public, Sewer Connected, Water Connected | View: | Pool | |
| Water Source: | Public | |||
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