Sarasota - Beach Property For Sale #7194609

Discover an exceptional income-generating property in the heart of coveted Siesta Key! This fully renovated multi-unit compound features two spacious 3-bedroom, 2-bathroom units (one upstairs, one downstairs), with an impressive $393,000 gross income in 2023 and $350,000 in 2024 (despite hurricane-related downtime), this turnkey investment provides immediate cash flow. The property boasts recent upgrades including brand-new AC (2025), updated flooring (2024-2025), modernized plumbing (2024), electrical (2022), and refreshed hot tubs (2021). What sets this opportunity apart is its CG zoning with a special exemption for nightly rentals--a rare advantage that not only protects your rental business but also unlocks significant development potential. Future possibilities include constructing an 85-foot building with ground-floor parking, 11 two-bedroom units, and a stunning rooftop pool. Whether you're seeking a high-performing rental portfolio or a strategic redevelopment opportunity in one of Florida's most desirable beach destinations, this property delivers both immediate income and long-term appreciation potential. Absentee owner managed; turnkey operation available at on a 10% management fee with all staff staying in place. Can by purchased as a portfolio along with 6550 Sabal Drive.