Address
133 W BAY STREET, Osprey, FL
Price
$ 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 |
| Body of Water | LITTLE SARASOTA BAY |
| Building Area Units | Square Feet |
| Carport Y/N | No |
| City | OSPREY |
| Construction Materials | Block, Stucco |
| Cooling | Central Air |
| County | Sarasota |
| Days on Market | 209 |
| Directions | Tamiami Trail to west on Bay Street....property 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 | https://vimeo.com/srq/review/795704935/bf3dbfadf5 |
| 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 |
Amenities
- 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
Price
Taxes
Visits
Year Built
Walkscore
Copyright © MFRMLS.com All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated Last updated on September 28, 2023 1:50 AM UTC The listing information on this page last changed on Last updated on September 28, 2023 1:50 AM UTCd. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of MFR MLS.
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Updated on September 28, 2023 1:50 AM UTC
