Address
1116 COCOANUT AVENUE Sarasota, FL
Price
$ 789,000
Property Attributes
  • MLS#A4511123
  • TypePending
  • CountySARASOTA
  • CitySarasota
  • AreaSarasota
  • NeighborhoodBOULEVARD ADDITION TO SARASOTA
  • Zip34236
  • StyleQuadruplex
  • Year Built1935
  • Taxes$ 3958
  • Price$ 789,000
  • Bedrooms6
  • Full Bathrooms4
  • Half Bathrooms0
  • Sqr Footage2013
  • Lot Size6,098 SqFt
Listing Provided Courtesy Of:
SRQ PROPERTIES
Data Source:
Stellar MLS
Property Description

Desirable apartment building with huge upside potential. Extensive new multifamily construction is happening nearby, and the property is zoned RMF-3. Current loss-to-lease is $1,475/month and there is the ability to further increase revenue with modest renovations. Cap rate with existing leases pushed to market is 6%, higher with any renovations. Two units have been turned within the last 18 months with new paint and flooring. There are two central HVAC units and two mini-split systems, and there is coin-operated laundry on-site. HVACs, windows, and roofs are relatively new. The lot has lush low-maintenance landscaping with inviting common areas. Walk to restaurants, night life, and grocery stores. One block to bay front water. Sarasota-Bradenton International Airport is a 10 minute drive, 3.9 miles.

Elementary School Middle School High School
Gocio Elementary Booker Middle Riverview High
Price History
9/1/2021 Listed $975,000
10/28/2021 20% - $789,000

General Features

Additional Parcels Y/N No
Appliances Electric Water Heater, Range, Range Hood, Refrigerator
Association Y/N No
Building Area Units Square Feet
Carport Y/N No
City SARASOTA
Construction Materials Wood Frame
Cooling Central Air, Mini-Split Unit(s), Other
County Sarasota
Days on Market 31
Directions From US 41, turn onto 10th Street, Left on Cocoanut. Turn right on 11th Street to park in the rear.
Disclosures Lead Paint, Seller Property Disclosure
Elementary School Gocio Elementary
Exterior Features Fence, Sidewalk
Flooring Carpet, Ceramic Tile, Vinyl
Garage Y/N No
Heating Electric
High School Riverview High
Interior Features Other
Levels Two
Lot Size Square Feet 6225
MLS Area 34236 - Sarasota
Middle/Junior High School Booker Middle
New Construction No
Occupant Type Tenant
Ok to Lease Twelve Months
Ownership Fee Simple
Private Pool No
Property SubType Quadruplex
Property Type Residential Income
PropertyCondition Completed
Roof Membrane
Security Features Key Card Entry, Smoke Detector(s)
Senior Community Y/N No
Sewer Public Sewer
Standard Status Pending
Status Pending
Street Name COCOANUT
Subdivision Name BOULEVARD ADDITION TO SARASOTA
Tax Annual Amount 3958
Tax Lot 19
Tax Year 2020
Terms Cash, Conventional, FHA
Total Number of Buildings 1
Total Units 4
Township 36S
Unit Count 2
Utilities Electricity Connected, Water Connected
View Garden, Park/Greenbelt
Virtual Tour https://www.propertypanorama.com/instaview/stellar/A4511123
Water Access YN No
Year Built 1935
Zoning RMF3

Interior Features

Fireplace Y/N No
Flood Zone Code Zone X, Zone AE
Furnished Y/N Unfurnished
Laundry Features Laundry Room
Living Area 2013
Living Area Units Square Feet
Livingareasource Appraiser
Street Suffix AVENUE

Exterior Features

Building Area Total 2013
Foundation Details Crawlspace
Lot Features City Limits, Paved
Lot Size Acres 0.14
Number of Lots 1
Parking Features Off Street
Road Responsibility Public Maintained Road
Road Surface Type Paved
Water Extras YN No
Water Source Public
Water View YN No
Waterfront Y/N No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Pending Average in 34236

Price
AVG $1.61M
$790K
Taxes
AVG $18,450
$3,958
Visits
AVG 236
50
Year Built
AVG 1996
1935
Walkscore
AVG 69
76
Data Provided by Walkscore ® not using MLS data