3731 PAPAI DR, SARASOTA, FL, 34232
$449,777
Residential Income
|
Bedrooms
5
|
Bathrooms
2
|
Living Area
1,818 Sqft
|
Lot Size
7,800 Sqft
|
Rare investment opportunity in Sarasota! Multi-family properties are seldom available in this predominantly single-family neighborhood, making this duplex a unique addition to any real estate portfolio. This income-producing property offers two separately leased units with a combined living area of approximately 1,818 square feet on a 7,800-square-foot lot.
The front unit features 3 bedrooms, 1 bathroom, & a dedicated laundry room while the second (Back) unit offers 2 bedrooms, 1 bathroom, and backyard access. Both units are currently occupied through 3/31/2026, providing immediate rental income and minimizing vacancy risk for investors seeking stable cash flow. Electric/Water are not separately metered and Landlord pays these two utilities.
Several major improvements have already been completed, including a new roof in 2019, updated HVAC in 2023 (back unit uses window units), and an updated electrical panel in 2023. The property is in the central Sarasota area with easy access to shopping, dining, schools, employment centers, downtown Sarasota, and the area's world-famous Gulf Coast beaches. Gross rents of $4,010. Annual Leases. Seller will consider owner financing. Showings require advanced notice. Call today!
Property Details
| Property Features | Property Features | |||
|---|---|---|---|---|
| MLS ID: | MFRA4697057 | Year Built: | 1960 | |
| Appliances: | Dishwasher, Range, Range Hood, Refrigerator | Construction Materials: | Block, Stucco | |
| Cooling: | Central Air, Wall/Window Unit(s) | Country: | US | |
| County Or Parish: | Sarasota | Exterior Features: | Fence, Storage | |
| Financial Data Source: | Owner | Flooring: | Tile | |
| Foundation Details: | Slab | Furnished: | Unfurnished | |
| Heating: | Central | Laundry Features: | Laundry Room | |
| Lease Term: | Twelve Months | Levels: | One | |
| Listing Agreement: | Exclusive Right To Sell | Listing Terms: | Cash, Conventional, FHA, Owner Financing, VA Loan | |
| Lot Features: | In County, Paved | Occupant Type: | Tenant | |
| Other Structures: | Shed(s) | Parking Features: | Driveway | |
| Property Condition: | Completed | Property Sub Type: | Duplex | |
| Property Type: | Residential Income | Road Responsibility: | Public Maintained Road | |
| Road Surface Type: | Asphalt | Roof: | Membrane | |
| Security Features: | Smoke Detector(s) | Sewer: | Public Sewer | |
| Showing Requirements: | 24 Hour Notice, Appointment Only, Call Listing Agent | Special Listing Conditions: | None | |
| Standard Status: | Active | State Or Province: | FL | |
| Utilities: | BB/HS Internet Available, Cable Connected, Electricity Connected, Public, Sewer Connected, Water Connected | View: | Trees/Woods | |
| Water Source: | Public | Window Features: | Blinds | |
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