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2111 Palm Terrace

SARASOTA, FL 34231

6 beds
4 baths
2,068 sqft
9,864 sqft lot
$483 per sqft
1950 build
– on site

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PRICE IMPROVEMENT! SELLER MOTIVATED! RARE 4plex investment opportunity in the heart of Sarasota, 6% cap rate, with potential for further income growth!! ! This well-maintained fully rented 4-plex is ideally situated in a the heart of Sarasota on a quiet dead-end street, within one of the best school districts in the area. The units boast modern updates with new kitchens, new flooring, open floor plans, and plenty of natural light. This property offers unparalleled convenience, with Trader Joe’s and Publix within walking distance and the stunning Siesta Key beaches just a 10-minute drive away. Tenants are already in place in all 4 units, ensuring a stable income stream. The expansive lot offers ample backyard space with a privacy fence. Thoughtfully designed driveway and parking area accommodate all units. Key updates included a new metal roof installed 2021 and roof clipping was completed in May 2022, significantly lowering insurance costs. Units A and B received new central A/C systems in 2020-2021, Unit C had a window unit installed in 2021 and Unit D a window unit installed in 2023. All units have been completely remodeled with new kitchens with new cabinets, granite countertops, subway tile backsplash, stunning fixtures and matching appliances. Units A & B boast LVP flooring and units C and D had tile floors, all installed between 2022 and 2023. Additional improvements include a new electrical panel and breakers in April 2022. On-site laundry facilities are currently operated by a third party, presenting an opportunity for additional revenue if switched to owner-operated machines. A termite bond is in place, providing extra peace of mind. With strong rental demand, excellent income potential, and significant recent updates, this 4-plex is an outstanding addition to any real estate portfolio. Don’t miss out on this rare chance to own a valuable piece of Sarasota real estate! Please do not disturb tenants. Ask about special financing options.

Listing courtesy of STELLAR_MLS / SHOWTIME REALTY

Last checked: Checking… • Last updated Oct 20, 2024 •

MLS# A4613502 —

The Building

Year Built:

1950
New Construction:

false
Construction Materials:

Block
Levels:

One
Roof:

Metal
Foundation Details:

Slab
Patio And Porch Features:

Patio
# of Buildings:

1
Building Area Total:

2348
Building Area Units:

Square Feet
Building Area Source:

Public Records

Interior

Interior Features:

Ceiling Fan(s)
Flooring:

Luxury Vinyl
Fireplace:

true

Room Dimensions

Living Area:

2068
Living Area Units:

Square Feet
Living Area Source:

Public Records

Location

Directions:

From I-75 North bound Exit 205 Clark Rd. Head West on Clark Rd. Head North on Tamiami Trail/ US 41. Turn Right on Palm Terrace and arrive at 2111 Palm Terrace
Latitude:

27.291335
Longitude:

-82.528162
Coordinates:

-82.528162, 27.291335

The Property

Parcel Number:

0075040058
Property Type:

Residential Income
Property Subtype:

Quadruplex
Property Attached:

false
Lot Features:

Landscaped
Lot Size Acres:

0.23
Lot Size Area:

9864
Lot Size SqFt:

9864
Lot Size Dimensions:

79 x 124
Lot Size Units:

Square Feet
Total Acres:

0 to less than 1/4
Zoning:

RSF3
View:

false
Exterior Features:

Fenced
Water Source:

Public
Road Responsibility:

Public Maintained Road
Road Surface Type:

Paved
Road Frontage Type:

Street Paved
Flood Zone Code:

X
Flood Zone Panel:

12115C0142F
Additional Parcels:

false
Land Lease:

false

Listing Agent

Contact info:

Taxes

Tax Year:

2023
Tax Lot:

10
Tax Block:

A
Tax Legal Description:

LOT 10 BLK A HARBOR OAKS
Tax Book Number:

2-44
Tax Annual Amount:

7774.29

Beds

Bedrooms Total:

6

Baths

Total Baths:

4

The Listing

Special Listing Conditions:

None

Heating & Cooling

Heating:

Central
Heating:

true
Cooling:

Central Air
Cooling:

true

Utilities

Utilities:

Electricity Connected
Sewer:

Public Sewer

Appliances

Appliances:

Dryer
Laundry Features:

Common Area

Schools

Elementary School:

Phillippi Shores Elementary
Middle Or Junior School:

Brookside Middle
High School:

Riverview High

The Community

Subdivision Name:

HARBOR OAKS
Senior Community:

false
Waterview:

false
Water Access:

false
Waterfront:

false
Pool Private:

false
Association:

false
Association Fee Requirement:

None
Ownership:

Fee Simple

Parking

Garage:

false
Carport:

false
Open Parking:

true
Parking Features:

Driveway

Extra Units

# of Units Total:

4

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
8/2/24 Aug 2, 2024	Sold	STELLAR_MLS	$1,000,000	-4.8%
7/15/24 Jul 15, 2024	Pending	STELLAR_MLS	$1,050,000
6/21/24 Jun 21, 2024	Price Changed	STELLAR_MLS	$1,050,000	-8.7%

Multifamily Sold on 8/2/2024

$1,000,000

Listing provided by broker:

Melissa Godio

SHOWTIME REALTY

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Listing Courtesy of: STELLAR_MLS and SHOWTIME REALTY.

Based on information from the My Florida Regional MLS DBA Stellar MLS 2025.

All information provided is deemed reliable but is not guaranteed and should be independently verified. Stellar MLS, Estately and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The information on each listing is furnished by the owner and deemed reliable to the best of his/her knowledge, but should be verified by the purchaser. Stellar MLS and Estately assume no responsibility for typographical errors, misprints or misinformation. This property is offered without respect to any protected classes in accordance with the law. For any questions please call (407) 499-8911.

2111 Palm Terrace

SARASOTA, FL 34231