133 W BAY STREET, Osprey, FL
$ 2,579,000
Property Attributes
  • MLS#N6124410
  • TypeIncome
  • CountySARASOTA
  • CityOsprey
  • AreaOsprey
  • NeighborhoodSARABAY ACRES
  • Zip34229
  • StyleQuadruplex
  • Year Built1953
  • Taxes$ 12768
  • Price$ 2,579,000
  • Bedrooms4
  • Full Bathrooms4
  • Half Bathrooms0
  • Sqr Footage3168
  • Lot Size0.47 Acres
Data Source:
Stellar MLS
Property Description

This property offers immediate income generation through a well-maintained 4-Plex. Situated on half an acre with 100 feet of direct bayfront access, it is currently zoned RMF1 with the potential for up-zoning to RMF2 or RMF3. Located within a Special High-Density Overlay District, it allows for significant development opportunities. The existing model, designed for RMF1 zoning, can accommodate a 15,840-square-foot living space over parking on a 7,920-square-foot buildable area, adhering to County setbacks. Upzoning to RMF2 or RMF3 would enable even more living space, making it the optimal use for this land. This property is perfectly positioned for luxury condominium development, the creation of a luxury compound, or the construction of a high-end single-family residence while retaining the existing duplexes. It features a newly constructed 150-foot dock with mooring for multiple boats and the potential for expansion. Situated in the affluent Osprey Village-Spanish Point, one of the most rapidly developing areas in the region and the fastest-growing bayfront walking community in Sarasota County. The property currently includes a unique 4-Plex consisting of two duplexes with two addresses on a single parcel. An additional advantage is that the 4-Plex is already connected to County water, with County sewer and a central gas line available within 150 feet. Adjacent to this property, Parrot Cove is constructing nine multi-million-dollar homes, while 49 luxury townhouses have been approved to the southeast at the corner of Tamiami Trail, and 22 luxury condos are proposed a block south. This property offers a unique opportunity as the existing duplexes provide immediate income generation, allowing time for planning and permitting, and potentially serving as a construction office. Enjoy picturesque bay views across to North Casey Key, stunning sunsets, and an unobstructed view reminiscent of a century ago. The lush grounds include a 150-year-old Grand Oak Tree by the bay, a private beach area with a firepit, pathways, and mature natural Florida landscaping. The four existing residences are classic open loft bungalows from the 1950s, updated with modern amenities while preserving their historic charm. All four units are fully furnished, equipped with kitchens and wares, new beds, linens, window coverings, and have been meticulously maintained. On-site laundry facilities are available. The property's fantastic West of The Trail location is one block distance of Historic Spanish Point, numerous restaurants, and shopping. It offers easy access to Nokomis Beach, Legacy Trail, Siesta Key, shopping centers, medical facilities, UTC Mall, downtown Sarasota, St. Armand's Circle, The Island of Venice, and all area airports. Private air travel options are also accessible on The Island of Venice. The seller has been renovating the property since acquiring it and has recently secured lucrative rentals for both units in the East Duplex for February and March, generating substantial monthly income. Developers recognize this as a once-in-a-lifetime opportunity to develop bayfront property in this special part of Little Sarasota Bay. Viewings are by appointment only, and unauthorized entry onto the property is prohibited.

Elementary School Middle School High School
Laurel Nokomis Elementary Sarasota Middle Venice Senior High
Price History
1/26/2023 Listed $2,890,000
9/16/2023 11% - $2,579,000

General Features

Additional Parcels Y/N No
Appliances Dishwasher, Dryer, Electric Water Heater, Microwave, Range, Refrigerator, Washer
Association Y/N No
Building Area Units Square Feet
Carport Y/N No
Construction Materials Block, Stucco
Cooling Central Air
County Sarasota
Days on Market 209
Directions Tamiami Trail to west on Bay at the end of Bay St W.
Disclosures Lead Paint
Elementary School Laurel Nokomis Elementary
Exterior Features Courtyard, Garden, Lighting, Other
Garage Y/N No
Heating Central, Electric
High School Venice Senior High
Interior Features Built-in Features, Ceiling Fans(s), Master Bedroom Main Floor, Open Floorplan, Window Treatments
Listing Terms Cash
Lot Size Square Feet 20588
MLS Area 34229 - Osprey
Middle/Junior High School Sarasota Middle
Minimum Lease 1 Month
New Construction No
Occupancy Description Vacant
Other Structures Storage
Patio/Porch Features Covered, Enclosed, Patio, Rear Porch, Screened
Percent Ownership Fee Simple
Pets Allowed Yes
Possession Close of Escrow
Private Pool No
Property Condition Completed
Property SubType Quadruplex
Property Type Residential Income
Roof Shingle
Senior Community Y/N No
Sewer Septic Tank
Standard Status Active
Status Active
Street Name BAY
Subdivision Name SARABAY ACRES
Tax Annual Amount 12768
Tax Lot 1
Tax Year 2021
Total Number of Buildings 2
Total Units 4
Township 38
Unit Count 4
Utilities BB/HS Internet Available, Cable Connected, Public, Water Connected
View Water
Virtual Tour
Water Access Bay/Harbor
Water Access YN Yes
Waterfront Features Bay/Harbor
Waterfront Y/N Yes
Year Built 1953
Zoning RMF1

Interior Features

Fireplace Y/N No
Flood Zone Code Zone VE
Flooring Hardwood
Furnished Y/N Furnished
Laundry Features Laundry Room
Living Area Units Square Feet
Livingareasource Public Records
Street Suffix STREET
Total Baths 1
Total Bedrooms 1
Window Features Window Treatments

Exterior Features

Buyer Agent Compensation 2.5%
Living Area 3168
Building Area Total 3168
Foundation Details Slab
Lot Dimensions 100X228
Lot Features In County, Landscaped, Level, Near Marina, Oversized Lot, Private, Street Dead-End
Lot Size Acres 0.47
Number of Lots 1
Parking Features Common, Driveway
Road Surface Type Gravel, Unimproved
Water Extras Bridges - No Fixed Bridges, Dock - Composite, Dock - Open, Dock - Slip 1st Come, Dock w/Electric, Dock w/Water Supply, Fishing Pier, Lift, No Wake Zone
Water Extras YN Yes
Water Frontage Feet Bay Harbor 100
Water Source Public
Water View Bay/Harbor - Full
Water View YN Yes
Waterfront Feet Total 100


  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Income Average in 34229

AVG $2.58M
AVG $12,768
AVG 32
Year Built
AVG 1953
AVG 48
Data Provided by Walkscore ® not using MLS data