5307 Desoto Pl., Sarasota, FL 34234

FANTASTIC OPPORTUNITY TO OWN 10-UNIT COMPLEX WITHIN WALKING DISTANCE OF TWO UNIVERSITIES - 8% CAP RATE! This complex consists of two buildings on separate parcels that must be sold together (see also MLS#A4142206, total price $699,800.) Both buildings are in good overall condition with long-term tenants at market rents in place. The parcels share a common driveway with off-street parking in the rear. 5307 DeSoto Place features two two-bedroom, two-bathroom units downstairs, two one-bedroom, one-bathroom units upstairs, and garage space for the owner's storage. 5323 Desoto Place features two two-bedroom, two-bathroom units downstairs and four efficiency apartments upstairs. All units are in marketable condition with the exception of one 2/2 unit currently under renovation (scheduled completion date: February 2016.) Both New College of Florida - which ranks among the nation's top honors colleges - and the University of South Florida's Sarasota campus are within three blocks of the parcels. Also nearby are the famous John & Mable Ringling Museum of Art, the Asolo Conservatory (which hosts Florida State University's nationally recognized Master of Fine Arts theatre program), the Ringling School of Art and Design, and the Ca' d'Zan, which was prominently featured in the 1998 film Great Expectations. Power and water are included in the lease amounts and are paid by the owner.