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1901-1905-1909-1911 Morrill St 1901 & 1905 Morrill St 4 Unit Apartment Building $3,064,044 CAD ($766,011 CAD/Unit) 3.85% Cap Rate Sarasota, FL 34236

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EXECUTIVE SUMMARY

Introducing a prime investment opportunity in the coveted Sarasota, FL area! This meticulously maintained 4,486 SF building, comprised of 4 units, presents a lucrative prospect for the discerning Multifamily / Single Family Rental Portfolio investor. Built in 1949 and fully renovated in 2022, this property boasts modern amenities while retaining its timeless charm. Strategically zoned DTE, it offers versatility and potential for expansion. With 100% occupancy, this turnkey investment promises immediate cash flow and long-term growth potential. Seize this exceptional chance to add a well-positioned and well-maintained property to your rental portfolio in this high-demand market.
Completely renovated inside and out
4 high-end residential units totaling 4,486 SF
Two-story Residence
Separate Duplex
Guest cottage
Exquisitely restored in 2022/2023
Hardi-Plank siding
Oversized impact windows and sliding doors
Luxury vinyl plank flooring
Crown molding
Prime Sarasota, Siesta Key, Longboat Key location
Fully occupied with premium tenants
Modern amenities and upscale finishes
Historic charm with contemporary elegance

CBC - Offering Memorandum _P_

Offering Memorandum

FINANCIAL SUMMARY (ACTUAL - 2024)	ANNUAL (CAD)	ANNUAL PER SF (CAD)
Gross Rental Income	-	-
Other Income	-	-
Vacancy Loss	-	-
Effective Gross Income	$177,840	$43.82
Taxes	$33,094	$8.16
Operating Expenses	$26,788	$6.60
Total Expenses	$59,882	$14.76
Net Operating Income	$117,958	$29.07

FINANCIAL SUMMARY (ACTUAL - 2024)

Gross Rental Income (CAD)
Annual	-
Annual Per SF	-

Other Income (CAD)
Annual	-
Annual Per SF	-

Vacancy Loss (CAD)
Annual	-
Annual Per SF	-

Effective Gross Income (CAD)
Annual	$177,840
Annual Per SF	$43.82

Taxes (CAD)
Annual	$33,094
Annual Per SF	$8.16

Operating Expenses (CAD)
Annual	$26,788
Annual Per SF	$6.60

Total Expenses (CAD)
Annual	$59,882
Annual Per SF	$14.76

Net Operating Income (CAD)
Annual	$117,958
Annual Per SF	$29.07

PROPERTY FACTS

Price	$3,064,044 CAD	Building Class	C
Price Per Unit	$766,011 CAD	Lot Size	0.29 AC
Sale Type	Investment	Building Size	4,058 SF
Cap Rate	3.85%	No. Stories	1
No. Units	4	Year Built/Renovated	1949/2024
Property Type	Multifamily	Parking Ratio	1.48/1,000 SF
Property Subtype	Apartment Multifamily Dormitory	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Apartment Style	Single-Family Home
Zoning	DTE - Downtown Edge Zoning allows for live/work & weekly/seasonal/annual rentals. Buyer to confirm proposed usage with city of Sarasota Zoning Department.

Price	$3,064,044 CAD
Price Per Unit	$766,011 CAD
Sale Type	Investment
Cap Rate	3.85%
No. Units	4
Property Type	Multifamily
Property Subtype	Apartment Multifamily Dormitory
Apartment Style	Single-Family Home
Building Class	C
Lot Size	0.29 AC
Building Size	4,058 SF
No. Stories	1
Year Built/Renovated	1949/2024
Parking Ratio	1.48/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	DTE - Downtown Edge Zoning allows for live/work & weekly/seasonal/annual rentals. Buyer to confirm proposed usage with city of Sarasota Zoning Department.

UNIT AMENITIES

Air Conditioning

Dishwasher

Washer/Dryer

SITE AMENITIES

Courtyard

Grill

Guest Apartment

UNIT MIX INFORMATION

DESCRIPTION	NO. UNITS	AVG. RENT/MO	SF
1+1	3	-	-
4+3.5	1	-	-

1 1

Walk Score®

Very Walkable (88)

Bike Score®

Very Bikeable (72)

What is a Walk Score®, Transit Score® & Bike Score®?

Walk Score® measures the walkability of any address.

Transit Score® measures access to public transit.

Bike Score® measures bikeability of a location.

What is a Walk Score®

, Transit Score® & Bike Score?

Walk Score® measures the walkability

of any address. Transit Score®

measures access to public transit. Bike Score®

measures bikeability of a location.®

Learn How It Works Detailed Scores

PROPERTY TAXES

Parcel Number	2027-08-0060	Total Assessment	$1,130,331 CAD
Land Assessment	$0 CAD	Annual Taxes	$33,094 CAD ($8.16 CAD/SF)
Improvements Assessment	$0 CAD	Tax Year	2024