Tropical Redwood Villas

1630 Redwood St,
Sarasota, FL 34231

Dreznin Pappas Commercial Real Estate, LLC

$1,550,000
Price
6
Number of Units
$258,333
Price Per Unit
5,476
Building Gross SF
5.76%
Cap Rate
5,204
Rentable SF
$1,550,000
Price
6
Number of Units
$258,333
Price Per Unit
5,476
Building Gross SF
5.76%
Cap Rate
5,204
Rentable SF

Apex Investment Highlights

  • Dreznin Pappas Commercial Real Estate, LLC is pleased to present the Tropical Redwood Villas, a favorable value-add opportunity just a short walk to Siesta Key Beach and steps from the new Siesta Promenade. The property features 6 units across 3 solid masonry buildings with a desirable unit mix of two-bedroom and one-bedroom apartments, separately metered utilities, and on-site laundry.
  • With favorable RMF-4 zoning and significant upside potential, this asset offers investors a rare chance to own in one of Sarasota’s most preferred coastal markets.
  • Exceptional Unit Mix of 67% Large Two-Bed / Two-Bath Units & 33% One-Bed / One-Bath Units
  • All Two-Bedroom Units Separately Metered for Water & Electric w/ Tenants Paying Direct to Utility Provider
  • Equipped w/ Coin-Operated Community Laundry Room, Storage Shed & Storage Space Abundant Off-Street Parking with Dedicated Spaces for Each Unit

Location Summary

  • 2-Minute Walk from the highly anticipated Siesta Promenade, a 24-Acre Mixed-Use Development by Benderson Consists of 6 Units in 3 Rock-Solid Masonry Buildings on 1 Parcel Totaling 0.37 Acres
  • Half Mile Walk to Public Beach Access 12 w/ Connected to Siesta Key Beach Strikingly Located “West of the Trail” (US-41) w/ Favorable RMF-4 Zoning
FOR MORE DETAILS CONTACT
Sean Dreznin
DREZNIN PAPPAS CRE, LLC
(941) 961-8199
tritoncre@gmail.com
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