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Ventura Apartments 2720-2750 Hope St 12 Unit Apartment Building $2,931,432 CAD ($244,286 CAD/Unit) 6.85% Cap Rate Sarasota, FL 34231
INVESTMENT HIGHLIGHTS
- Attractive light value-add opportunity with significant upside via the potential to convert garages into income-generating storage units.
- Rock-solid 1980-87 masonry construction with on-site coin-operated laundry and a large garage area.
- Features a distinctive two-bed/ two-bath unit, a former owner's suite, a spacious screened-in lanai, and a generous private backyard.
- Non-Flood Zone location (Zone X) significantly reducing insurance expenses and ideally located less than 10 minutes from Downtown Sarasota.
- Interior updates in eight units including new kitchen cabinets, granite countertops, bathroom vanities and showers, and new flooring.
- In a prime location just 10 minutes from Siesta Key, recognized as Florida’s #1 best beach and #2 beach in the USA by TripAdvisor's 2024.
EXECUTIVE SUMMARY
The Multifamily Firm is pleased to present the Ventura Apartments, a 12-unit apartment complex in Sarasota, Florida, offering a prime investment opportunity in one of the nation’s most sought-after coastal markets. Strategically positioned just 10 minutes from Siesta Key, recently ranked Florida’s #1 Beach and the #2 Beach in the US by Tripadvisor’s 2024 Travelers’ Choice Awards, the property benefits from strong tenant demand and exceptional investment potential. Additionally, its NON-flood zone location (Zone X) significantly reduces insurance costs.
This light value-add opportunity presents substantial upside through strategic cosmetic upgrades, implementation of RUBS or utility fees, and the conversion of the oversized garage into income-generating storage units. With its prime location, solid construction, and multiple avenues for value enhancement, Ventura Apartments offers a rare opportunity to capitalize on Sarasota’s thriving rental market and the enduring appeal of Siesta Key.
View the offering memorandum for full details and financial information.
This light value-add opportunity presents substantial upside through strategic cosmetic upgrades, implementation of RUBS or utility fees, and the conversion of the oversized garage into income-generating storage units. With its prime location, solid construction, and multiple avenues for value enhancement, Ventura Apartments offers a rare opportunity to capitalize on Sarasota’s thriving rental market and the enduring appeal of Siesta Key.
View the offering memorandum for full details and financial information.
PROPERTY FACTS
| Price | $2,931,432 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $244,286 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.74 AC |
| Cap Rate | 6.85% | Building Size | 7,994 SF |
| Sale Condition | 1031 Exchange | No. Stories | 2 |
| No. Units | 12 | Year Built | 1980 |
| Property Type | Multifamily | Parking Ratio | 2.25/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | RMF-3 - Residential Multifamily | ||
| Price | $2,931,432 CAD |
| Price Per Unit | $244,286 CAD |
| Sale Type | Investment |
| Cap Rate | 6.85% |
| Sale Condition | 1031 Exchange |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.74 AC |
| Building Size | 7,994 SF |
| No. Stories | 2 |
| Year Built | 1980 |
| Parking Ratio | 2.25/1,000 SF |
| Zoning | RMF-3 - Residential Multifamily |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Ceiling Fans
- Tile Floors
- Eat-in Kitchen
- Kitchen
- Granite Countertops
- Vaulted Ceiling
- Refrigerator
- Oven
- Range
- Tub/Shower
- Walk-In Closets
- Yard
- Breakfast Nook
- Freezer
- Patio
- Vinyl Flooring
SITE AMENITIES
- 24 Hour Access
- Fenced Lot
- Laundry Facilities
- Tenant Controlled HVAC
- Storage Space
- Smoke Detector
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PROPERTY TAXES
| Parcel Number | 0085-01-0013 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $1,471,437 CAD |
PROPERTY TAXES
Parcel Number
0085-01-0013
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,471,437 CAD
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Ventura Apartments | 2720-2750 Hope St
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