Log In/Sign Up
Your email has been sent.
Echo on 8th 785 N Osprey Ave 23 Unit Apartment Building $7,444,818 CAD ($323,688 CAD/Unit) 6.16% Cap Rate Sarasota, FL 34236
Investment Highlights
- Echo on Eighth consists of all two-bedroom units which have been fully renovated, each unit includes stackable washers/dryers
- Area median income of $106,100 (Fannie Mae)
- Concrete block construction
- Each unit is individually parceled giving a buyer multiple options on an exit
- Not located in a high risk flood zone
Executive Summary
Meticulously renovated, 23-unit property located in one of the most sought-after submarkets in Sarasota, FL. Nearly $1.3 million in capital improvements put into the property since 2022, including but not limited to: all new roofs, windows, parking lot, electrical, plumbing and significant unit renovations. Located across the street from Gillespie Park, within walking distance to Downtown Sarasota and a quick drive to renowned St. Armands, Siesta Key and Long Boat Key. Strategically located in a high-demand submarket, ensuring sustained occupancy through immediate proximity to employment and entertainment hubs, regional transit corridors and Tier-1 educational institutions
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
Financial Summary (Pro Forma - 2027) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2027) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $7,444,818 CAD | Building Class | C |
| Price Per Unit | $323,688 CAD | Lot Size | 0.92 AC |
| Sale Type | Investment | Building Size | 15,048 SF |
| Cap Rate | 6.16% | Average Occupancy | 96% |
| No. Units | 23 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1975/2022 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Garden | ||
| Zoning | DTN - DOWNTOWN NBHD - DTN - DOWNTOWN NEIGHBORHOOD | ||
| Price | $7,444,818 CAD |
| Price Per Unit | $323,688 CAD |
| Sale Type | Investment |
| Cap Rate | 6.16% |
| No. Units | 23 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.92 AC |
| Building Size | 15,048 SF |
| Average Occupancy | 96% |
| No. Stories | 2 |
| Year Built/Renovated | 1975/2022 |
| Opportunity Zone |
Yes |
| Zoning | DTN - DOWNTOWN NBHD - DTN - DOWNTOWN NEIGHBORHOOD |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Tile Floors
- Eat-in Kitchen
- Kitchen
- Granite Countertops
- Refrigerator
- Oven
- Range
- Tub/Shower
- Yard
- Double Pane Windows
- Smoke Free
Site Amenities
- Fenced Lot
- Laundry Facilities
- Picnic Area
- Tennis Court
- Pet Play Area
- Walking/Biking Trails
- Bicycle Storage
- Maintenance on site
- Zen Garden
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 23 | - | 630 |
Moderately walkable
70/100
Moderately drivable
60/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 2026-07-1001 | Improvements Assessment | $250,089 CAD (2025) |
| Land Assessment | $0 CAD (2025) | Total Assessment | $250,089 CAD (2025) |
Property Taxes
Parcel Number
2026-07-1001
Land Assessment
$0 CAD (2025)
Improvements Assessment
$250,089 CAD (2025)
Total Assessment
$250,089 CAD (2025)
1 of 21
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
Echo on 8th | 785 N Osprey Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.