1887 Hyde Park St

Discover the allure of Sarasota, FL, where the property is nestled in a vibrant, business-friendly community. This sought-after area offers proximity to downtown Sarasota with its upscale dining, shopping, the Hospital, and the Airport.This property has 6 units in good condition. Building #1 is 2,912 SF. Building #2 is 2,813 SF. Zoning is RMF3. Lot Size is 14,180 SF or 1/3 of an acre. Front building (closer to Hyde Park Street) has four units. In the last 5-6 years they have been renovated/upgraded with new floors, kitchens, bathrooms, A/C (split units), paint, appliances (including washer/dryer etc. The exterior has been painted and a new roof has been installed. a. The upstairs units in the front building are 1BR/1BA rented annually (unit numbers 8 & 4) have stable annual tenants in place, these two units are probably under rented by $100-$200 per month. Both 8 & 4 are presently $1,600.00 per month b. The downstairs units are fully furnished and offered as short-term rentals. Because of the inconsistency of rent amounts at various times of the year or duration of stay we are providing annual figures. Unlike the monthly rents above and below, these are estimates only. The downstairs units could easily be converted to annual rentals. Present owners have continued the short-term primarily because the annual revenue is higher. Number 6 is a 2BR/1BA (a large second bedroom has been built. Number 2 is 1BR/1BA, same as above. Number 6 $19,549 and Number 2 is $22,852. These numbers are annual and estimated but remain short term due to the close proximity to the SMH hospital which is considered the 4th best hospital in all of Florida. c. The back building is elevated, with carports below. These are efficiency units, rented annually. Tenants are stable. These units are well maintained and have had minor upgrades. New roof 3 years ago +/-. New A/C (all units, not split units as in front building). Number 3 & number 1 are rented at $1,350. Per month. In estimating the investment value at present the gross income is $116,500.00 taxes are $25,200.00, projected insurance is $15,000.00 and estimated management is $12,000.00 per year resulting in a net operating income of $74,300.00.