PALMADELIA APARTMENTS | 10-UNIT SARASOTA MULTIFAMILY INVESTMENT
Discover an established income-producing apartment community at 2700 Palmadelia Avenue, Sarasota, FL 34234. Offered at $2,750,000, this 10-unit multifamily property combines existing rental income, a desirable Sarasota location, and potential value-add opportunities near Downtown Sarasota.
THE PROPERTY | Ten apartments consisting of eight 3-bedroom, 1-bathroom residences and two 2-bedroom, 1-bathroom residences. Built in 1980, the two-story apartment building offers approximately 7,744 square feet of living area on a 0.54-acre parcel with approximately 23 on-site parking spaces. Ownership reports full occupancy.
RENTAL INCOME | Current scheduled gross rental income of $204,000 annually, averaging $1,700 per apartment monthly. These figures represent scheduled rents, not independently verified historical collections.
VALUE-ADD POTENTIAL | Existing rental rates offer opportunities to evaluate future rent adjustments, lease renewals, and operational improvements, subject to market conditions, existing lease agreements, applicable laws, and buyer due diligence. Investment underwriting identifies potential rental growth without requiring a substantial redevelopment strategy.
PROPERTY FEATURES | Established 10-unit multifamily building with a combination of spacious two- and three-bedroom apartments, on-site parking, and an existing rental history. The property’s unit mix provides flexibility for long-term residential rental operations.
LOCATION | Situated in Sarasota’s Newtown neighborhood, near Downtown Sarasota, with convenient access to US-301, major employment centers, shopping, dining, and regional Gulf Coast amenities.
THE OPPORTUNITY | An established Sarasota multifamily investment property for buyers seeking existing rental income, operational flexibility, and potential long-term value creation. Suitable for consideration by private multifamily investors and 1031 exchange purchasers.
Offering memorandum, current rent roll, and investment underwriting available for qualified purchasers. All income, expenses, occupancy, leases, property details, and investment projections are subject to independent buyer verification.
Discover an established income-producing apartment community at 2700 Palmadelia Avenue, Sarasota, FL 34234. Offered at $2,750,000, this 10-unit multifamily property combines existing rental income, a desirable Sarasota location, and potential value-add opportunities near Downtown Sarasota.
THE PROPERTY | Ten apartments consisting of eight 3-bedroom, 1-bathroom residences and two 2-bedroom, 1-bathroom residences. Built in 1980, the two-story apartment building offers approximately 7,744 square feet of living area on a 0.54-acre parcel with approximately 23 on-site parking spaces. Ownership reports full occupancy.
RENTAL INCOME | Current scheduled gross rental income of $204,000 annually, averaging $1,700 per apartment monthly. These figures represent scheduled rents, not independently verified historical collections.
VALUE-ADD POTENTIAL | Existing rental rates offer opportunities to evaluate future rent adjustments, lease renewals, and operational improvements, subject to market conditions, existing lease agreements, applicable laws, and buyer due diligence. Investment underwriting identifies potential rental growth without requiring a substantial redevelopment strategy.
PROPERTY FEATURES | Established 10-unit multifamily building with a combination of spacious two- and three-bedroom apartments, on-site parking, and an existing rental history. The property’s unit mix provides flexibility for long-term residential rental operations.
LOCATION | Situated in Sarasota’s Newtown neighborhood, near Downtown Sarasota, with convenient access to US-301, major employment centers, shopping, dining, and regional Gulf Coast amenities.
THE OPPORTUNITY | An established Sarasota multifamily investment property for buyers seeking existing rental income, operational flexibility, and potential long-term value creation. Suitable for consideration by private multifamily investors and 1031 exchange purchasers.
Offering memorandum, current rent roll, and investment underwriting available for qualified purchasers. All income, expenses, occupancy, leases, property details, and investment projections are subject to independent buyer verification.
Property Details
Price:
$2,750,000
MLS #:
A4710042
Status:
Active
Beds:
0
Baths:
0
Type:
Commercial
Subtype:
Multi Family (5+)
Subdivision:
NEWTOWN HEIGHTS FIRST ADD TO
Neighborhood:
34234sarasota
Listed Date:
Oct 19, 2026
Finished Sq Ft:
7,744
Total Sq Ft:
7,744
Lot Size:
23,500 sqft / 0.54 acres (approx)
Year Built:
1980
See this Listing
Schools
Interior
Cooling
Other
Exterior
Construction Materials
Block
Financial
Tax Year
2025
Taxes
$17,978
Map
Community
- Address2700 PALMADELIA AVENUE SARASOTA FL
- SubdivisionNEWTOWN HEIGHTS FIRST ADD TO
- CitySARASOTA
- CountySarasota
- Zip Code34234
Market Summary
Current real estate data for Commercial in SARASOTA as of Oct 19, 2026
49
Commercial Listed
214
Avg DOM
570
Avg $ / SqFt
$2,208,475
Avg List Price
Property Summary
- Located in the NEWTOWN HEIGHTS FIRST ADD TO subdivision, 2700 PALMADELIA AVENUE SARASOTA FL is a Commercial for sale in SARASOTA, FL, 34234. It is listed for $2,750,000 To schedule a showing of MLS#a4710042 at 2700 PALMADELIA AVENUE in SARASOTA, FL, contact your InvestPro Properties, Inc. agent at 561-203-7022.
Similar Listings Nearby
Courtesy of DOUGLAS ELLIMAN. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the Orlando/Tampa – FL. Detailed information about real estate listings held by brokerage firms other than InvestPro Properties, Inc. include the name of the listing broker. Neither the listing company nor InvestPro Properties, Inc. shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2026. Orlando/Tampa – FL. All rights reserved. 2700 PALMADELIA AVENUE
SARASOTA, FL