Bought with
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Square Footage 1,826 sqft
Price per Sqft $654
Subdivision Rhodes & Hale Sub
MLS Listing ID A4667604
Bedrooms 5
Construction Status Completed
HOA Y/N No
Year Built 1940
Annual Tax Amount $11,173
Lot Size 9,147 Sqft
Acres 0.21
Property Sub-Type Triplex
Source Stellar MLS
Property Description
The triplex features three charming, fully furnished units—two front units with two bedrooms and one bathroom each, and a one-bedroom, one-bathroom rear unit. Each includes private driveways, off-street parking, patios, and either in-unit or shared laundry. Situated on an exceptional flag lot with dual frontage on both Laurel Street and Ohio Place, this property offers rare privacy, accessibility, and redevelopment potential. The lot's size and configuration make it ideal for a future custom residence, offering one of the most desirable build opportunities within Sarasota's downtown core.
Financially, the property has a consistent and transparent performance record, generating $111,599 in 2023, $106,893 in 2024, and a projected $103,000 in 2025. Importantly, these figures already reflect reduced occupancy, as the owners reserve the property multiple times per year for family use. Without that usage, the income potential is expected to reach or exceed $120,000 annually, offering clear upside for an investor focused on maximizing returns. With stronger marketing, repeat-guest programs, and continuous availability, this property's income could grow substantially while remaining a largely hands-off investment.
This triplex stands out not only for its returns but also for its flexibility. Investors can enjoy immediate passive income with management and future bookings already in place, or occupy one unit and rent the others to offset ownership costs. The property's prime location within the National Historic District of Laurel Park enhances its long-term value, offering walkable access to Sarasota's Bayfront, Selby Gardens, Main Street dining, shopping, and the city's renowned arts and theater venues. Laurel Park's historic charm, walkability, and strong rental demand make it one of Sarasota's most stable and appreciating neighborhoods for both investors and homeowners alike.
With its combination of proven rental history, turnkey condition, desirable lot, and premier downtown location, this property represents a rare opportunity to own an asset that delivers reliable income today and exceptional upside tomorrow. Whether held as a passive income generator, a personal retreat with investment benefits, or the site of a future luxury home, this triplex embodies the best of Sarasota's lifestyle, history, and growth potential. Don't miss your chance to own this exceptional property in one of Sarasota's most sought-after neighborhoods—where historic character meets lasting investment value.
Location
State FL
County Sarasota
Community Rhodes & Hale Sub
Area 34236 - Sarasota
Zoning RSM9
Interior
Interior Features Ceiling Fans(s), Living Room/Dining Room Combo, Open Floorplan, Solid Surface Counters
Heating Electric
Cooling Wall/Window Unit(s)
Fireplace false
Appliance Dishwasher, Dryer, Microwave, Range, Refrigerator, Washer
Laundry Common Area, Laundry Room
Exterior
Exterior Feature Fence, Lighting, Sidewalk, Sliding Doors, Storage
Utilities Available Cable Connected, Electricity Connected, Public, Sewer Connected, Water Connected
View Garden
Roof Type Shingle
Porch Covered
Garage false
Private Pool No
Building
Lot Description Corner Lot, Flag Lot, Historic District, City Limits, Landscaped, Sidewalk, Paved
Entry Level One
Foundation Slab
Lot Size Range 0 to less than 1/4
Sewer Public Sewer
Water Public
Structure Type Block,Stucco
New Construction false
Construction Status Completed
Schools
Elementary Schools Southside Elementary
Middle Schools Booker Middle
High Schools Sarasota High
Others
Pets Allowed Cats OK, Dogs OK, Yes
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash, Conventional
Membership Fee Required Optional
Listing Terms Cash, Conventional
Num of Pet 10+
Special Listing Condition None
Virtual Tour https://www.propertypanorama.com/instaview/stellar/A4667604
