Description

7 Rentable Units | 10 Bed, 8 Bath Income Property - Prime Siesta Key Location Exceptional opportunity to acquire a high-performing multifamily investment just minutes from world-renowned Siesta Key Beach. Positioned on Siesta Drive-the gateway to Siesta Key-this offering includes two adjacent triplexes on separate parcels, with the potential to expand to 8 units. Currently 7 rented and rentable units. The property features a diverse unit mix of 1BR, 2BR, 3BR, and studio layouts, designed to maximize rental income and appeal to both long-term tenants and short-term vacation renters. Zoned for weekly rentals (7-day minimum) within city limits, the asset benefits from strong, proven income performance, including established Airbnb 5-star hosting history. Extensive capital improvements have been completed, including newer roofs (2016-2017), updated siding, modern A/C systems, hot water heaters (2021+), appliances, exterior plumbing, fencing, and security lighting with cameras. The property is professionally landscaped and offers on-site laundry, with the ability to add private laundry to each unit. Tenants pay utilities, supported by 7 separate water and electric meters, minimizing owner expenses and enhancing net operating income. Ideally located just blocks from the North Bridge and within walking distance to shopping, dining, and daily conveniences. Situated in an X flood zone, means no flood insurance is required and Level D evacuation zone. The property offers ample on-site parking for up to 17 vehicles, with additional space for boats, kayaks, and recreational equipment. Offering includes both parcels (must be sold together): 1761 Siesta Dr & 1760 Wisconsin Ln Investment Highlights: ~7.45% Cap Rate Under $20K Annual Expenses Projected Gross Income: $175K-$200K+ Significant Upside Potential Do not disturb tenants. Showings by appointment only; listing agent must accompany all showings.