133 W Bay Street

Description

IMMEDIATE INCOME PRODUCING 4-PLEX. Half-Acre with 100 feet Direct BAYFRONT LAND Zoned RMF1 with Opportunity to Develop. The property lies within a Special High Density Overlay District with ability to up-zone to RMF2 or RMF3. The first photo rendition is a model with current RMF1 zoning; allowing a building 15,840 square feet of living space over parking, on a buildable site of 7920 square feet.; per County setbacks. Upzoning to RMF2 or RMF3 would allow more levels of living space and be the Highest & Best Use of the land. Perfect site to develop luxury condos or build a Luxury Compound or a luxury single family residence while keeping the existing duplexes. Newly constructed 150-foot dock with mooring for numerous boats & ability to expand. Located in the affluent Osprey Village-Spanish Point, one of the hottest developing areas in town, & the fastest growing bayfront walking community in Sarasota County! Currently there is a unique 4-Plex on the land, which is two duplexes with two addresses on one parcel. Currently the 4-Plex is hooked up to County water, plus County sewer & a central gas line are available within 150 feet. Parrot Cove, next door to north, is building nine multi-million-dollar homes, 49 luxury townhouses have been approved immediately to the south-east at the corner of Tamiami Trail, & 22 luxury condos are proposed to be built a block south. This is a unique opportunity as the current two duplexes allow for instant occupancy or functioning as income-producing while working on plans and permitting; & then maybe a construction office. Picturesque wide Bay views across to North Casey Key & sensational sunsets with no condos to interrupt the sunsets. Watch the rowers glide across the bay from the private lush grounds with a 150-year-old Grand Oak Tree by the bay, private beach area with firepit, pathways and mature natural Florida landscape. The existing four residences are Old Florida classic open loft bungalows from the 1950's and have been updated with all modern amenities while preserving the historic charm. Four completely New HVAC Systems including new ducts throughout, plus four new hot water heaters. The wood interior is pristine with oak floors, full kitchens with high end Bosch appliances, marble backsplashes, quartz countertops, beautiful marble bathrooms, & inviting screen porches. Watch the rowers glide across the bay from the private lush grounds with a 150-year-old Grand Oak Tree, private beach area with firepit, pathways & mature natural Florida landscape. All four residences are equipped with kitchens & wares, new beds, linens, window coverings, plus fully furnished & immediately ready to start earning revenue. In addition, there are on-site laundry facilities. The premium residence has full bay views and a large private patio. Fantastic West of The Trail location is an easy walk to Historic Spanish Point, numerous restaurants plus shopping. Easy access to Nokomis Beach, Legacy Trail, Siesta Key, shopping, medical, UTC Mall, downtown Sarasota, St Armands Circle, The Island of Venice, all area airports, plus private air travel options are available on The Island of Venice. Seller has been renovating this property since he has owned it. He has just rented both units in the East Duplex for February & March at $20,000 each. 10K per unit per month. Developers know this is a once in a lifetime opportunity to develop a bayfront property, on a special part of Little Sarasota Bay. Must have an appointment.