431 N East Avenue, Sarasota, FL 34237
Local realty services provided by:CENTURY 21 RoseBay
Listed by: justin buffaloe
Office: amy robinson real estate llc.
MLS#:A4703278
Source:MFRMLS
Price summary
- Price:$999,000
- Price per sq. ft.:$444.99
About this home
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 that 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....
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Home facts
- Year built:1959
- Subdivision & Development:POS SUB OF LT 11 BLK N
- Listing ID #:A4703278
- Added:1 day(s) ago
- Updated:August 20, 2026 at 01:36 PM
Rooms and interior
- Bedrooms:5
- Total bathrooms:4
- Flooring:Tile
- Kitchen Description:Range, Range Hood
- Living area:2,245 sq. ft.
Heating and cooling
- Cooling:Central Air
- Heating:Central, Electric
- Central air:Yes
Structure and exterior
- Roof:Shingle
- Year built:1959
- Building area:2,245 sq. ft.
- Lot area:0.29 Acres
- Lot Features:Corner Lot, Landscaped, Sidewalk
- Construction Materials:Block
- Exterior Features:Awning(s), Fence, Porch, Sidewalk
- Foundation Description:Slab
- Levels:1 Story
Schools
- High school:Booker High
- Middle school:Booker Middle
- Elementary school:Tuttle Elementary
Utilities
- Water:Public, Water - Multiple Meters, Water Connected
- Sewer:Public Sewer, Sewer Connected
Finances and disclosures
- Price:$999,000
- Price per sq. ft.:$444.99
- Tax amount:$7,907 (2025)
Features and amenities
- Appliances:Dryer, Range, Range Hood, Washer
- Laundry features:Dryer, Electric Dryer Hookup, Laundry Room, Washer, Washer Hookup
- Amenities:Open Floorplan
- Pool features:Public Pool
Parking
- Parking description:Driveway, Off Street, Open
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