1555 7TH STREET

Property Details

Description

SARASOTA ~ CITY OF SARASOTA ~ ROSEMARY DISTRICT ~ DOWNTOWN LIVING AND / OR INVESTMENT, WITH UPSIDE DEVELOPMENT OPPORTUNITIES! - WE ARE SELLING 4 CONTIGUOUS PROPERTIES WITH FOUR RENTAL HOMES ON AN ESTIMATED 23K SF +/- LAND!!!! Come and explore this unique opportunity to own and operate four contiguous properties with homes within the much sought after City of Sarasota "Rosemary District". The current rent roll is estimated at $100K +/-, all the current homes (4) are rented on an annual basis. The zoning does allow for short term weekly rentals, come and set up your own short term rental compound with estimated average daily rates @ $50.00 - $100.00 +/. Want another reason to look, owner will consider "owner financing" and/or selling off less then all four homes. There are just not many opportunities in the City of Sarasota to secure rezoned lands with the ability to use the current as-is property to secure carry income while waiting for the right timing to develop. The upside development in the Rosemary Zoning District: up to 7-stories with up to 30+ units. Property is very easy to show, sign is on site! NOTE: another contiguous parcel - rental home available for discussion. NOTE: future development plans viable on request!

Facts & Costs

Property type

Quadruplex

Units

4

Current rent (total)

$9,664 / month

Gross income

$116,000 / year

Net income

$81,200 / year

Zoning

DTE

Year built

1926

Lot size

5,942 sq ft

Price per sq ft

$683

Days on market

83

Private pool

No

Waterfront

No

Community

James Street Park

Subdivision

HALLS SUB JAMES S

County

Sarasota

Flood zone

X

Monthly & yearly costs

Property taxes

$5,846 / year (2025)

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

Construction & systems

Heating

Electric, Heat Pump, Zoned

Cooling

Central Air, Zoned

Flooring

Ceramic Tile, Tile, Vinyl, Wood

Roof

Metal, Shingle

Construction

Block, Brick, Concrete, Frame, Wood Siding

Parking

Assigned, Boat, Deeded, Driveway, Ground Level, Guest, Off Street, On Street, Open, Oversized, Parking Pad, Reserved, RV Access/Parking, Tandem

View

City, Garden, Park/Greenbelt, Trees/Woods

Payment Estimate

$13,275 / month

Principal & interest

$12,788

Property taxes

$487

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

• Cooktop
• Dryer
• Microwave
• Other
• Range
• Range Hood
• Refrigerator
• Washer
• Ceiling Fans(s)
• High Ceilings
• Open Floorplan
• Primary Bedroom Main Floor
• Solid Surface Counters
• Solid Wood Cabinets
• Thermostat
• Vaulted Ceiling(s)
• Fence
• Garden
• Private Entrance
• Private Mailbox
• Private Yard
• Sidewalk
• Storage