USAFLSarasotaNewtown Heights First Add to2700 Palmadelia Ave

New

$2,750,000

For Sale

4 hours ago

2700 Palmadelia Ave, Sarasota, FL

Name: 2700 Palmadelia Ave, For Sale in Sarasota - eXp Realty
Brand: DOUGLAS ELLIMAN
SKU: A4710042
Price: 2750000 USD

House

MLS® A4710042

0 Bed

0 Bath

7744 sqft

Key Facts
Description
Map

Key Facts

Type Multi Family

Levels Commercial Sale

Size 7744 sqft

Garage

Taxes $17,978

Days Active 0

Lot Size 0.54 Acres

Approx. Age 1980

Avg. Price Per Sqft $355

MLS® Number A4710042

Property Address: 2700 Palmadelia Ave, SARASOTA, FL, 34234-6000

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

Description

PALMADELIA APARTMENTS | 10-UNIT SARASOTA MULTIFAMILY INVESTMENT Discover an established income-producing apartment community at 2700 Palmadelia Avenue, Sarasota, FL 34234. Offered at $2, 750, 000, this 10-unit multifamily property combines existing rental income, a desirable Sarasota location, and potential value-add opportunities near Downtown Sarasota. THE PROPERTY | Ten apartments consisting of eight 3-bedroom, 1-bathroom residences and two 2-bedroom, 1-bathroom residences. Built in 1980, the two-story apartment building offers approximately 7, 744 square feet of living area on a 0.54-acre parcel with approximately 23 on-site parking spaces. Ownership reports full occupancy. RENTAL INCOME | Current scheduled gross rental income of $204, 000 annually, averaging $1, 700 per apartment monthly. These figures represent scheduled rents, not independently verified historical collections. VALUE-ADD POTENTIAL | Existing rental rates offer opportunities to evaluate future rent adjustments, lease renewals, and operational improvements, subject to market conditions, existing lease agreements, applicable laws, and buyer due diligence. Investment underwriting identifies potential rental growth without requiring a substantial redevelopment strategy. PROPERTY FEATURES | Established 10-unit multifamily building with a combination of spacious two- and three-bedroom apartments, on-site parking, and an existing rental history. The property's unit mix provides flexibility for long-term residential rental operations. LOCATION | Situated in Sarasota's Newtown neighborhood, near Downtown Sarasota, with convenient access to US-301, major employment centers, shopping, dining, and regional Gulf Coast amenities. THE OPPORTUNITY | An established Sarasota multifamily investment property for buyers seeking existing rental income, operational flexibility, and potential long-term value creation. Suitable for consideration by private multifamily investors and 1031 exchange purchasers. Offering memorandum, current rent roll, and investment underwriting available for qualified purchasers. All income, expenses, occupancy, leases, property details, and investment projections are subject to independent buyer verification.

MLS® NumberA4710042

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

Garage

Approx. Age1980

Basement

Driveway

Garage Spaces

Heat

A/COther

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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