1/1 Condo W/ Nightly Rentals Allowed. Net 22K in 2019

$75,000
1
1
348
sq. ft.
$216
per sq ft
Heated sq ft: 348 sq ft
Avg Nightly Rate: $65
Home Legally Sleeps: 2
Occupancy Rate: 32 weeks
Annual Gross Income : 27480
Annual Net Operating Income : 22740
Property Type: Condo (high rise or low rise)
Ownership Type: Full (100%)
Seasoned Short Term Rental: Yes
Furnishings Included: Yes
For Sale By: Broker
Seller Financing: No
Niche: Beach, Business Stay, Couples/Romance
New Construction: Yes
Days on Vrolio: 240

Property Description

This is perhaps the best investment property on the market right now, NETTING over 20K last year. This is a privately owned "hotel style" unit that is located within the Ramada Sarasota building. This unique property has been recently remodeled with fresh paint, new flooring, new appliances, and furniture. This unit was used strictly as a short term rental property and did over $26,000 in gross revenue last year. With no minimum rental restrictions this property is able to be rented out DAILY. The HOA covers ALL UTILITIES (Electric, Water, Internet, Cable, Exterior Maintenance) making your overhead expenses minimal and easy to budget. If your client is looking for a CASH COW look no further than this unique little property. Your client may also want to use this as a vacation home that can make them money when they are not using it. Live the RESORT LIFE! Amenities include a newly remodeled waterfront restaurant/tiki-bar on-site ("Tarpon Bay Grill and Tiki-Bar"), heated pool, beach volleyball, gym,community laundry and common areas. Head out in your boat for some great fishing or beach time, come back, have dinner and a drink at the waterfront tiki-bar/restaurant, take a dip in the waterfront pool and then go back to your beautifully remodeled unit to shower/relax/sleep and do it all over again! *Please reach out to listing agent for a detailed break down of 2019 rental history. *Room faces parking lot, hotel sits on water. All Hotel amenities are welcomed to be used by guests

Presented by:
Agent:
Matthew Pertosoff
EXP Realty
Seller Financing
No
Distress Sale
None
Seller Financing Terms
Seasonal Nightly Rates
High: 98
Low: 85
Peak: 110
Special Event: 100
Avarage: 65.00
Furniture Age
2
Est Value of Furnishings
$3,000
Peak & High Seasons
January, February, March, April, May, June, July, August
Ownership Percentage
Full (100%)
Qualifies for foreign national visa
Not sure
Reason for Selling
Owner is looking to use money for other investments
Foreign national buyer restrictions from government?
Not sure
Gross Annual Income
27480
Net Operating Income
22740
Stories
1
Additional Indoor Rooms
Other
Appliances
Microwave, Refrigerator, Other
Heating/Cooling
Wall Unit A/C
Floor Coverings
Laminate Wood, Tile
Security
No
Security Description
Half Baths
Inquire
Master Suite(s)
Inquire
Energy Efficiency
Year built
1959
Outdoor Features
Dock, Fire Pit, Inground Pool, Walk Out Balcony
View
No view
Backyard Exposure
West
Lot Size
Inquire
Community Features
Bar, Fitness Center, Marina, Reception, Restaurant(s)
Tax Amount/Year
$630
CDD Amount
Inquire
Neighborhood
Inquire
Deed Restricted Community
Yes
Interview Required
No
Neighborhood Amenities
Bar, Fitness Center, Marina, Reception, Restaurant(s)
Mandatory HOA
Inquire
Home Legally Sleeps:
2
Onsite Parking
Parking is first come first serve, however there is never an issue finding a spot.
Neighborhood Association STR Rules
HOA allows STR
Municipality STR Rules
No restrictions documented by owner. Verification recomended
Transferrable Permit or License
Yes, Municipality Issuing New Permits
Rental Tax Info
$6.00
Minimum Nightly Rental
No Minimum
Rental Length Requirement
No Restriction
Has Rental History
Yes
Established Rental History
1 Year
Occupancy Rate
32
Being Sold with Bookings
Inquire
Caretaker Info
InquireCaretaker cannot stay and oversee the property
Bookings Placed By
Owner
Managed By
Owner
Management Bookings Percentage
Inquire
Caretaker Bookings Percentage
Inquire
Paid Booking History
Yes
Future Booking Calendar
Management Fees
Inquire
Caretaker Fees
Inquire
Sold with Marketing Collateral
No
Manager Cancellation Policy
 
  •  
Credit Card Fee
Inquire
Cleaning Fee
$40.00
Licesnes & Permits (Annual)
Inquire
Advertising & Tech Costs (Annual)
Inquire
Yard & Pest Control (Annual)
Inquire
Pool & Spa Maintinence (Annual)
Inquire
Electricity (Annual)
Inquire
Water/Sewer (Annual)
Inquire
Cable/Interbet (Annual)
Inquire
Accounting Fee (Annual)
Inquire
Property Taxes (Annual)
$630.00
Homeowner's Insurance (Annual)
Inquire
Short Term Rental Insurance Rider (Annual)
Inquire
CDD Fee (Annual)
Inquire
Annual Homeowner's Association Dues
$47.40
Additional Membership Fees (Annual)
Inquire
Acquisition
Purchase price
Closing costs
Home Inspection
Furniture & Interiors Package
Rehab Work Estimates
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User understands this calculator is deemed reliable but not guaranteed. Vrolio makes absolutely no guarantees on returns or income. User should do their own due diligence and verify all data before making a purchasing decision. User understands that this is an educational tool only. We therefore accept no liability arising from any reliance made by any user or person to whom this information is made available to. Please use this tool at your own discretion and use caution always before buying any real estate investment.

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Listing Source: EXP Realty, 941-773-3706

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