USAFLSarasotaWhitfield Country Club Heights Un 1&21410 Magellan Dr

New

$2,750,000

For Sale

4 hours ago

1410 Magellan Dr, Sarasota, FL

Name: 1410 Magellan Dr, For Sale in Sarasota - eXp Realty
Brand: DOUGLAS ELLIMAN
SKU: A4710044
Price: 2750000 USD

House

MLS® A4710044

0 Bed

0 Bath

5163 sqft

Key Facts
Description
Map

Key Facts

Type Multi Family

Levels Commercial Sale

Size 5163 sqft

Garage

Taxes $18,228

Days Active 0

Lot Size 0.34 Acres

Approx. Age 1974

Avg. Price Per Sqft $532

MLS® Number A4710044

Property Address: 1410 Magellan Dr, SARASOTA, FL, 34243-4429

Average square foot calculated using Size range provided by listing agent.

Description

MAGELLAN APARTMENTS | 16-UNIT SARASOTA MULTIFAMILY INVESTMENT Discover an established income-producing apartment community at 1410 Magellan Drive, Sarasota, FL 34243. Offered at $2, 750, 000, this 16-unit property combines existing rental income, month-to-month tenancy and potential value-add opportunities in the Sarasota-Bradenton investment market. THE PROPERTY | Sixteen efficiency apartments in a two-story garden-style building. Ownership reports full occupancy, with all 16 units operating on month-to-month rental arrangements. The property features block construction, a slab foundation and approximately 5, 163 square feet of building area, according to MLS property information. RENTAL INCOME | Current scheduled gross rental income of $192, 000 annually, averaging $1, 000 per apartment monthly. These figures represent scheduled rents, not independently verified historical collections. VALUE-ADD POTENTIAL | Month-to-month leases provide flexibility to evaluate future rental adjustments and operational improvements, subject to applicable laws and existing tenant rights. Investment underwriting identifies potential rent growth without requiring a substantial renovation program. PROPERTY IMPROVEMENTS | Major interior renovations are reported during 2016–2018, with a permit-documented reroof during 2019–2020. Buyers should verify the scope and condition of improvements. LOCATION | Located in the Whitfield area near the Sarasota-Manatee County line, with convenient access to US-41, Sarasota Bradenton International Airport, Downtown Sarasota and regional employment centers. THE OPPORTUNITY | An established 16-unit multifamily property for investors seeking existing rental income, operational flexibility and potential long-term value creation. Offering memorandum and financial underwriting available for qualified purchasers. All income, expenses, occupancy, leases, property details and investment projections are subject to independent buyer verification.

MLS® NumberA4710044

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

Garage

Approx. Age1974

Basement

Driveway

Garage Spaces

Heat

A/CCentral Air, Other

Extras

Price History

-End Date

Not Sold YetSold Price

For Sale

Oct 19, 2026List Date

$2,750,000List Price

Commute

Commute

Starting Address

Destination Address

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