4001 GROVELAND AVENUE

Property Details

Description

LOCATION LOCATION LOCATION! Sarasota's hottest zip code is Presenting a strong multifamily investment opportunity just minutes from Siesta Key, this 5-unit hotel/ motel property offers current income, flexible rental options, and long-term upside in one of Sarasota’s most desirable rental markets. Located in a non-flood zone approximately 4 miles from Siesta Key Beach, the property is well positioned for long-term tenants, seasonal rentals, or potential short-term rental strategies. The building includes five 2-bedroom, 1-bath units, each offering broad tenant appeal and turnkey convenience. Long-term tenants are currently in place, while the property has the availability to hold a motel/hotel license, creating additional flexibility for future ownership and rental operations. Investor-friendly features include individually metered utilities, public water and sewer, paved parking, no required flood insurance, and reported general liability insurance of approximately $460. Recent improvements include exterior paint in 2024, remodeled kitchens in Units 2, 3, and 4 in 2024, updated bathrooms, major plumbing replacement completed in 2009 and 2010, roof replacement in 2014, blown-in roof insulation. The property also offers private amenities that help set it apart from typical multifamily options, including a heated and cooled swimming pool, screened patio room, and tropical outdoor space designed to enhance tenant or guest enjoyment. With current income, multiple rental strategy options, turnkey units, and a prime Sarasota location near Siesta Key, this property is a compelling opportunity for investors seeking cash flow, flexibility, and long-term appreciation potential. Schedule your private showing today.

Facts & Costs

Property type

Quadruplex

Current rent (total)

$9,750 / month

Gross income

$145,000 / year

Net income

$140,000 / year

Zoning

RMF2

Year built

1974

Lot size

0.59 acres

Price per sq ft

$320

Days on market

147

Private pool

Yes

Waterfront

No

Community

Grove park

Subdivision

GROVE PARK

County

Sarasota

Flood zone

X

Monthly & yearly costs

Property taxes

$13,014 / year (2025)

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

Construction & systems

Heating

Central, Electric

Cooling

Central Air

Flooring

Ceramic Tile

Roof

Shingle

Construction

Stucco

View

Pool

Payment Estimate

$8,037 / month

Principal & interest

$6,953

Property taxes

$1,084

HOA

$0

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

• Dishwasher
• Dryer
• Microwave
• Range
• Range Hood
• Refrigerator
• Washer
• Ceiling Fans(s)
• Eat-in Kitchen
• Kitchen/Family Room Combo
• Living Room/Dining Room Combo
• Open Floorplan
• Primary Bedroom Main Floor
• Solid Surface Counters
• Solid Wood Cabinets
• Split Bedroom
• Thermostat
• Walk-In Closet(s)
• Lighting
• Rain Gutters
• Sidewalk
• Heated
• In Ground