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The Multifamily Firm Brokers Apartment Building Sale in Sarasota, FL

The Multifamily Firm Brokers Apartment Building Sale in Sarasota, FL

June 10, 2021


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The Multifamily Firm is proud to announce the sale of the Oyster Bay Villas in Sarasota, Florida. The sale was an all-cash deal with a substantial escrow deposit that became non-refundable within 18 days of contract execution and sold $637,715: equating to $159,429 per unit. The property was on the market for 3 days before receiving multiple offers and ultimately closing within 35 days of contract execution.

The Oyster Bay Villas sale consisted of 4 units in 2 masonry buildings built in 1971, on 1 parcel of approximately 0.37 acres of land. The offering was a substantial value-add opportunity with an average upside potential of $350 per month per unit. Additionally, the property features a desirable unit mix of 100% Two-bedroom units with washer/dryer hookups in all units and new roofs on both buildings.

The Oyster Bay Villas are perfectly positioned within 5 minutes of both the north & south bridge entrance to Siesta Key, just east of Route 41 / Tamiami Trail in Central Sarasota. The location provides quick access to an abundance of premier grocery stores, such as Publix & Trader Joes, and is just a short 10-minute drive from Downtown Sarasota.

The sale was brokered by Phil Ginexi & Kyle Keelan of The Multifamily Firm. For additional information regarding the sale and/or upcoming offerings, contact us directly to join our distribution list for new exclusive listings!

THE OYSTER BAY VILLAS APARTMENT BUILDING SALE IN SARASOTA HIGHLIGHTS:

  • Sale Price: $637,715 ($159,429/Unit)
  • Cash Deal w/ Substantial Deposit Non-Refundable Within 18 Days of Contract Execution
  • Sourced a New to Market Out of State All Cash Buyer/Investor
  • On the Market for 3 Days before Receiving Multiple Offers & Going Under Contract
  • Transaction Closed Within 35 Days of Contract Execution
  • Consists of 4 Units in 2 Masonry Buildings Built in 1971 on 1 Parcel of Approx. 0.37 Acres
  • Substantial Value-Add Opportunity w/ an Average Upside Potential of $350/Month/Unit
  • Desirable Unit Mix of 100% Two-bedroom Units with Washer/Dryer Hookups in All Units
  • Perfectly Positioned Within 5 Mins of the North & South Bridge Entrance to Siesta Key

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