170 Roosevelt Drive 6, SARASOTA, FL 34236
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  • MLS#: A4670924 ( Residential Income )
  • Street Address: 170 Roosevelt Drive 6
  • Viewed: 73
  • Price: $1,600,000
  • Price sqft: $1,088
  • Waterfront: No
  • Year Built: 1955
  • Bldg sqft: 1470
  • Total Baths: 5
  • Days On Market: 43
  • Additional Information
  • Geolocation: 27.3084 / -82.5713
  • County: SARASOTA
  • City: SARASOTA
  • Zipcode: 34236
  • Subdivision: Pelican Gardens
  • Provided by: RE/MAX ALLIANCE GROUP
  • Contact: Joey Lamielle
  • 941-954-5454
  • mfrmls
  • DMCA Notice
  • Description
    Rare Income Producing Portfolio on South Lido Key 5 Turnkey STR Units A rare opportunity to acquire a fully operating short term rental portfolio on South Lido Key, one of Sarasotas most coveted coastal markets. This offering includes five updated studio units within a boutique beachside community just steps from two direct beach access points and a short ride to St. Armands Circle. Each unit is managed, actively listed, and consistently booked, delivering proven performance and strong guest demand year round. These condos have a long track record as successful Airbnb rentals, with 2024 gross income averaging $38,470 per unit and portfolio wide net income of $113,255 after HOA, taxes, utilities, and cleaning expenses. This is a cash flowing, turnkey asset in a high barrier to entry vacation rental market. The property features a community pool and sliding glass access private patios for each unit, creating the indoor/outdoor lifestyle guests expect on Lido. Interiors have been updated over the years and show pride of ownership throughout. Major mechanical systems are in good condition, with recent A/C and hot water tank replacements across the portfolio for peace of mind. Unit Renovation & Mechanical Summary: Unit 2 Updated | AC ~4 yrs | WH < 6 yrs Unit 6 Updated | AC ~4 yrs | WH < 6 yrs Unit 10 Updated | AC ~2 yrs | WH < 6 yrs Unit 11 Updated | AC ~3 yrs | WH < 3 yrs Unit 12 Updated | AC ~2 yrs | WH < 3 yrs This type of offering is rarely available a multi unit STR package on Lido Key with documented income history, repeat traveler base, and proven operational infrastructure already in place. Keep as a turnkey portfolio, self manage, or explore value add improvements and dynamic pricing to further enhance returns. 5 units. One unbeatable coastal investment. Opportunities like this do not come around often.
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Features
Building and Construction
  • Covered Spaces: 0.00
  • Exterior Features: Courtyard, Fence, Garden, Storage
  • Living Area: 294.00
  • Other Structures: Storage
  • Roof: Shingle
Property Information
  • Property Condition: Completed
Garage and Parking
  • Garage Spaces: 0.00
  • Open Parking Spaces: 0.00
Eco-Communities
  • Water Source: Public
Utilities
  • Carport Spaces: 0.00
  • Cooling: Central Air
  • Heating: Central
  • Pets Allowed: No
  • Sewer: Public Sewer
  • Utilities: Public
Finance and Tax Information
  • Home Owners Association Fee: 595.00
  • Insurance Expense: 0.00
  • Net Operating Income: 0.00
  • Other Expense: 0.00
  • Tax Year: 2024
Other Features
  • Association Name: PMI Capstone
  • Association Phone: 9415548838
  • Country: US
  • Interior Features: Ceiling Fans(s), Open Floorplan, Solid Wood Cabinets, Stone Counters, Thermostat, Window Treatments
  • Legal Description: UNIT 6, 2, 10, 11, 12 PELICAN GARDENS
  • Area Major: 34236 - Sarasota
  • Occupant Type: Tenant
  • Parcel Number: 2016144006
  • View: Garden, Trees/Woods
  • Views: 73
  • Zoning Code: RMF3
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Headshot for Associate Jessica M. Bustinza Lopusnak
  1. Jessica M. Bustinza Lopusnak
  2. Tropic Shores Realty
  3. Home: 727.388.2312
  4. Mobile: 352.346.0251
  5. jbustinza2474@gmail.com