Twitter
Facebook
Email
|
MAGELLAN APARTMENTS | 16-UNIT SARASOTA MULTIFAMILY INVESTMENT Discover an established income-producing apartment community at 1410 Magellan Drive, Sarasota, FL 34243. Offered at $2,750,000, this 16-unit property combines existing rental income, month-to-month tenancy and potential value-add opportunities in the Sarasota-Bradenton investment market. THE PROPERTY | Sixteen efficiency apartments in a two-story garden-style building. Ownership reports full occupancy, with all 16 units operating on month-to-month rental arrangements. The property features block construction, a slab foundation and approximately 5,163 square feet of building area, according to MLS property information. RENTAL INCOME | Current scheduled gross rental income of $192,000 annually, averaging $1,000 per apartment monthly. These figures represent scheduled rents, not independently verified historical collections. VALUE-ADD POTENTIAL | Month-to-month leases provide flexibility to evaluate future rental adjustments and operational improvements, subject to applicable laws and existing tenant rights. Investment underwriting identifies potential rent growth without requiring a substantial renovation program. PROPERTY IMPROVEMENTS | Major interior renovations are reported during 2016-2018, with a permit-documented reroof during 2019-2020. Buyers should verify the scope and condition of improvements. LOCATION | Located in the Whitfield area near the Sarasota-Manatee County line, with convenient access to US-41, Sarasota Bradenton International Airport, Downtown Sarasota and regional employment centers. THE OPPORTUNITY | An established 16-unit multifamily property for investors seeking existing rental income, operational flexibility and potential long-term value creation. Offering memorandum and financial underwriting available for qualified purchasers. All income, expenses, occupancy, leases, property details and investment projections are subject to independent buyer verification.
| DAYS ON MARKET | 4 | LAST UPDATED | 10/19/2026 |
|---|---|---|---|
| TRACT | WHITFIELD COUNTRY CLUB HEIGHTS UN 1&2 | YEAR BUILT | 1974 |
| COMMUNITY | 34243 - Sarasota | COUNTY | Manatee |
| STATUS | Active | PROPERTY TYPE(S) | Commercial |
| ADDITIONAL DETAILS | |
| AIR | Central Air, Other |
|---|---|
| AIR CONDITIONING | Yes |
| AREA | 34243 - Sarasota |
| CONSTRUCTION | Block |
| LOT | 0.34 acre(s) |
| SUBDIVISION | WHITFIELD COUNTRY CLUB HEIGHTS UN 1&2 |
| TAXES | 18228 |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
0
P
I
*Estimate only
| SATELLITE VIEW |
| / | |
We respect your online privacy and will never spam you. By submitting this form with your telephone number
you are consenting for Marilyn
Kuczynski to contact you even if your name is on a Federal or State
"Do not call List".
Listing provided by Rex Glasson, DOUGLAS ELLIMAN, 941-867-6199
The information contained herein has been provided by My Florida Regional MLS DBA Stellar MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. Listings last updated 10/23/26 6:28 AM PDT.
This IDX solution is (c) Diverse Solutions 2026.