Active

431 N East Avenue

SARASOTA, FL 34237
Mark as Favorite
Bed 5

Bed

Bath 4

Bath

SqFt2,245

Sqft

Acres0.29

Acre(Lot)

Three renovated units, one corner parcel, four blocks from Main Street. A fully occupied Sarasota triplex producing $7,200 per month, or $86,400 annually, against a $999,000 asking price. That is an 8.65% gross yield and a basis of $333,000 per door. Every unit has been rebuilt inside. Large-format marble-look porcelain tile runs wall to wall through all three, with no carpet anywhere in the building. Walls and ceilings are crisp white under flush-mount LED fixtures in every room. Kitchens carry light flat-panel cabinetry, and stainless appliances, with stacked laundry inside the unit rather than a shared machine down the hall. Bathrooms are white vanities, chrome fittings and framed mirrors over the same tile. The finish package is deliberately consistent across all three units, and th at consistency is what makes it turnkey: one material palette, one maintenance standard, and no unit sitting in line for work before it can lease. The mix spans three price points. A three-bedroom, two-bath at $3,800. A two-bedroom, one-bath at $1,900. A studio at $1,500. All three are occupied. The building is single-story concrete block on a slab under a shingle roof, with central air, public water and public sewer, and off-street parking for ten. Three water meters and three electric meters measure consumption per unit. The parcel sits in Flood Zone X. Between masonry construction and Flood Zone X, the two variables that drive Florida insurance both point the same direction. Ownership is fee simple with no HOA, no condominium association and no CDD fee. Two levers sit on top of the in-place rent. The first is vacation rental. The City of Sarasota extended its vacation rental ordinance to the Downtown Neighborhood zone district in March 2024, and this parcel falls inside it. Stays of seven nights or longer are permitted with a city certificate, which is a materially different revenue profile than a twelve-month lease in a location four blocks off Main Street. The second is the land. A 12,472 square foot corner site, zoned DTN and sitting under the City's Missing Middle Overlay, which can support density beyond the three units standing today where attainable-housing, design and permitting standards are satisfied. Nothing further is approved and any concept requires confirmation with the City, but the parcel carries a second thesis that a stabilized triplex elsewhere does not. Renovated, occupied, individually metered, insurable, and sitting on urban ground with room to grow. Income now, optionality later.

Read More Expand

Detail Ic Property Details

Property Type : Residential Income

Price : $999,000

AD Id : 89719197

MLS Id : MFRA4703278

Beds : 5

Lot Size : 0.29 Acre

Living Area Size : 2,245

Year Built : 1959

County : Sarasota

Subdivision: Pos Sub Of Lt 11 Blk N

  • Map Map

Map

Map What's Nearby

Map Nearby Areas

Feature Features

  • Bedroom Information

    Total Bedroom: 5

    Bathroom Information

    Total Baths: 4

    Interior Features

    Open Floorplan Roof: Shingle Appliances: Dryer, Range, Range Hood, Washer Laundry Features: Electric Dryer Hookup, Laundry Room, Washer Hookup

    Roofing Information

    Shingle
  • Flooring Information

    Flooring: Tile Construction Materials: Block
  • Heating & Cooling

    Heating: Central, Electric Cooling: Central Air WaterSource: Public

  • Building Information

    Year Built: 1959
  • Exterior Features

    Awning(s), Fence, Sidewalk Construction Materials: Block Foundation Details: Slab Road Responsibility: Public Maintained Road

  • Lot Information

    Lot Description: Corner Lot, City Limits, Landscaped, Sidewalk Lot Square Feet: 12472 Lot Acres: 0.29 Lot Size (SqMt): 1159

    Property Information

    Property Type: Residential Income Sub Type: Triplex

  • Listing Price Information

    Original List Price:$999000

  • Tax Information

    Tax Block: N Tax Book Number: 1-107 Tax Lot: 11 Tax Legal Description: LOTS 11 & 12 SUB OF LOT 11 BLK N PLAT OF SARASOTA Annual Tax: $7907 Tax Year: 2025 Parcel Number: 2028120076

  • School Information

    Elementary School: Tuttle Elementary Junior High School: Booker Middle Senior High School: Booker High
  • Utility Information

    Electricity Connected, Sewer Connected, Water - Multiple Meters, Water Connected Sewer: Public Sewer Water Source: Public
  • Location Information

    Subdivision: POS SUB OF LT 11 BLK N City: SARASOTA Direction: Beginning at Fruitville Road, head north along N East Avenue. Proceed to 431 N East Avenue, which sits at the corner. Kindly refrain from disturbing the residents.
Sell a home like this and save $59,441 Find out How

How much is this property worth?

Curious about this home's true market value? Use our free Home Evaluation Tool to instantly get a personalized Comparative Market Analysis (CMA) report. Make smarter, data-driven decisions before you buy.

Images
Loading, please wait...

Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
1213 Benedict Court, Sarasota, FL, 34237 $640,000 6 6 2,610 2,610 SqFt
610 N East Avenue, Sarasota, FL, 34237 $679,777 2 4 1,737 1,737 SqFt
632/634 N East Avenue, Sarasota, FL, 34237 $385,000 5 3 1,306 1,306 SqFt
Broker Logo

Disclaimer: The information being provided courtesy of MFRMLS (My Florida Regional MLS DBA Stellar MLS) as distributed by MLS GRID and is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the MFRMLS (My Florida Regional MLS DBA Stellar MLS). ByOwner.com is not a Multiple Listing Service (MLS), nor does it offer MLS access. ByOwner.com is a broker participant of MFRMLS (My Florida Regional MLS DBA Stellar MLS). This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site.

Based on information submitted to the MLS GRID as of 08/27/2026 @ 06:20. All data is obtained from various sources and may not have been verified by the broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Properties displayed may be listed or sold by various participants in the MLS.

Consumer use of IDX Listings Disclaimer: Based on information submitted to the MLS GRID as of 08/27/2026 @ 06:20. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. The data is deemed reliable but is not guaranteed by MLS GRID. The use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time.


DMCA Notice: The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the “DMCA”) provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked. Notices must be sent in writing by email to DMCAnotice@MLSGrid.com.
“The DMCA requires that your notice of alleged copyright infringement include the following information:
(1) description of the copyrighted work that is the subject of claimed infringement;
(2) description of the alleged infringing content and information sufficient to permit us to locate the content;
(3) contact information for you, including your address, telephone number and email address;
(4) a statement by you that you have a good faith belief that the content in the manner complained of is not authorized by the copyright owner, or its agent, or by the operation of any law;
(5) a statement by you, signed under penalty of perjury, that the information in the notification is accurate and that you have the authority to enforce the copyrights that are claimed to be infringed; and
(6) a physical or electronic signature of the copyright owner or a person authorized to act on the copyright owner’s behalf. Failure to include all of the above information may result in the delay of the processing of your complaint.

ByOwner last updated this listing 08/27/2026 @ 06:20

MLS: MFRMLS #A4703278 LISTED BY: Justin Buffaloe, AMY ROBINSON REAL ESTATE LLC 941-346-7000 SOURCE: MFRMLS (My Florida Regional MLS DBA Stellar MLS) (Listings courtesy of MFRMLS (My Florida Regional MLS DBA Stellar MLS) as distributed by MLS GRID)

Homes around $999,000

Selling? Save $59,441 when you sell a home like this

Tour with a ByOwner Agent