FL
Sarasota
SARASOTA
34237
431 N EAST AVENUE
431 N EAST AVENUE, SARASOTA, FL 34237
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Listing Type
Multi Family
Listing Status
Active
29
$999,000

Home Details for 431 N EAST AVENUE

Price
$999,000
Type
Residential Income
Bedrooms
5
Total Bathrooms
4
Square feet
2245
Year built
1959
Lot size acres
0.29
County
Sarasota
MLS Listing#
A4703278
Property Description

Three renovated units, one corner parcel, four blocks from Main Street. A fully occupied Sarasota triplex producing $7,200 per month, or $86,400 annually, against a $999,000 asking price. That is an 8.65% gross yield and a basis of $333,000 per door. Every unit has been rebuilt inside. Large-format marble-look porcelain tile runs wall to wall through all three, with no carpet anywhere in the building. Walls and ceilings are crisp white under flush-mount LED fixtures in every room. Kitchens carry light flat-panel cabinetry, and stainless appliances, with stacked laundry inside the unit rather than a shared machine down the hall. Bathrooms are white vanities, chrome fittings and framed mirrors over the same tile. The finish package is deliberately consistent across all three units, and that consistency is what makes it turnkey: one material palette, one maintenance standard, and no unit sitting in line for work before it can lease. The mix spans three price points. A three-bedroom, two-bath at $3,800. A two-bedroom, one-bath at $1,900. A studio at $1,500. All three are occupied. The building is single-story concrete block on a slab under a shingle roof, with central air, public water and public sewer, and off-street parking for ten. Three water meters and three electric meters measure consumption per unit. The parcel sits in Flood Zone X. Between masonry construction and Flood Zone X, the two variables that drive Florida insurance both point the same direction. Ownership is fee simple with no HOA, no condominium association and no CDD fee. Two levers sit on top of the in-place rent. The first is vacation rental. The City of Sarasota extended its vacation rental ordinance to the Downtown Neighborhood zone district in March 2024, and this parcel falls inside it. Stays of seven nights or longer are permitted with a city certificate, which is a materially different revenue profile than a twelve-month lease in a location four blocks off Main Street. The second is the land. A 12,472 square foot corner site, zoned DTN and sitting under the City's Missing Middle Overlay, which can support density beyond the three units standing today where attainable-housing, design and permitting standards are satisfied. Nothing further is approved and any concept requires confirmation with the City, but the parcel carries a second thesis that a stabilized triplex elsewhere does not. Renovated, occupied, individually metered, insurable, and sitting on urban ground with room to grow. Income now, optionality later.

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Property Features
  • Utilities
    • Electricity Connected
    • Sewer Connected
    • Water Connected
  • Parking
    • Driveway
    • Off Street
    • Open
  • Heating Information
    • Central
    • Electric
  • Cooling Information
    • Central Air
  • Water Features
    • Public
  • House Interior
    • Open Floorplan
School Information
School Information for 431 N EAST AVENUE, SARASOTA, FL 34237
Elementary School
Tuttle Elementary
Middle School
Booker Middle
High School
Booker High
Listing Courtesy: AMY ROBINSON REAL ESTATE LLC - 941-346-7000
Listings courtesy of Stellar MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Listing information is provided for consumers? personal, non-commercial use, solely to identify prospective properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Information deemed reliable but not guaranteed. Copyright ©2026 MLS GRID. All Rights Reserved.
Last Updated: 2026-08-20 05:00:17
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EXIT KING REALTY
3900 Clark Rd. Unit H3-H4, Sarasota, FL 34233
Office
941 497 6060
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