170 ROOSEVELT DRIVE #10

Property Details

Description

Rare Income-Producing Portfolio on South Lido Key – 4 Turnkey STR Units A rare opportunity to acquire a fully operating short-term rental portfolio on South Lido Key, one of Sarasota’s most coveted coastal markets. This offering includes 4 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 $85804 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 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 Unit 6 - Updated AC is 3 years and WH is 3 years 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. 4 units. One unbeatable coastal investment. Opportunities like this do not come around often.

Facts & Costs

Property type

Triplex

Units

5

Gross income

$192,350 / year

Net income

$113,255 / year

Zoning

RMF3

Year built

1955

Lot size

0.9 acres

Price per sq ft

$4,422

Days on market

331

Private pool

No

Waterfront

No

Community

Pelican Gardens

Subdivision

PELICAN GARDENS

County

Sarasota

Flood zone

AE

Monthly & yearly costs

HOA fee

$595 / monthly

Property taxes

$21,500 / year (2024)

As reported by the listing agent. Verify with the HOA and county.

Construction & systems

Heating

Central

Cooling

Central Air

Roof

Shingle

Construction

Block

View

Garden, Trees/Woods

Payment Estimate

$8,960 / month

Principal & interest

$6,574

Property taxes

$1,792

HOA

$595

Home insurance

enter below

Estimate only, not a loan offer. Rate is a starting value; taxes and HOA are as reported by the listing agent. Florida insurance (including flood) varies widely. Ask George for a lender referral.

Location

Features & Amenities

• Ceiling Fans(s)
• Open Floorplan
• Solid Wood Cabinets
• Stone Counters
• Thermostat
• Window Treatments
• Courtyard
• Fence
• Garden
• Storage