MAGELLAN APARTMENTS | 16-UNIT SARASOTA MULTIFAMILY INVESTMENT
Discover an established income-producing apartment community at 1410 Magellan Drive, Sarasota, FL 34243. Offered at $2,750,000, this 16-unit property combines existing rental income, month-to-month tenancy and potential value-add opportunities in the Sarasota-Bradenton investment market.
THE PROPERTY | Sixteen efficiency apartments in a two-story garden-style building. Ownership reports full occupancy, with all 16 units operating on month-to-month rental arrangements. The property features block construction, a slab foundation and approximately 5,163 square feet of building area, according to MLS property information.
RENTAL INCOME | Current scheduled gross rental income of $192,000 annually, averaging $1,000 per apartment monthly. These figures represent scheduled rents, not independently verified historical collections.
VALUE-ADD POTENTIAL | Month-to-month leases provide flexibility to evaluate future rental adjustments and operational improvements, subject to applicable laws and existing tenant rights. Investment underwriting identifies potential rent growth without requiring a substantial renovation program.
PROPERTY IMPROVEMENTS | Major interior renovations are reported during 2016–2018, with a permit-documented reroof during 2019–2020. Buyers should verify the scope and condition of improvements.
LOCATION | Located in the Whitfield area near the Sarasota-Manatee County line, with convenient access to US-41, Sarasota Bradenton International Airport, Downtown Sarasota and regional employment centers.
THE OPPORTUNITY | An established 16-unit multifamily property for investors seeking existing rental income, operational flexibility and potential long-term value creation.
Offering memorandum and financial 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 1410 Magellan Drive, Sarasota, FL 34243. Offered at $2,750,000, this 16-unit property combines existing rental income, month-to-month tenancy and potential value-add opportunities in the Sarasota-Bradenton investment market.
THE PROPERTY | Sixteen efficiency apartments in a two-story garden-style building. Ownership reports full occupancy, with all 16 units operating on month-to-month rental arrangements. The property features block construction, a slab foundation and approximately 5,163 square feet of building area, according to MLS property information.
RENTAL INCOME | Current scheduled gross rental income of $192,000 annually, averaging $1,000 per apartment monthly. These figures represent scheduled rents, not independently verified historical collections.
VALUE-ADD POTENTIAL | Month-to-month leases provide flexibility to evaluate future rental adjustments and operational improvements, subject to applicable laws and existing tenant rights. Investment underwriting identifies potential rent growth without requiring a substantial renovation program.
PROPERTY IMPROVEMENTS | Major interior renovations are reported during 2016–2018, with a permit-documented reroof during 2019–2020. Buyers should verify the scope and condition of improvements.
LOCATION | Located in the Whitfield area near the Sarasota-Manatee County line, with convenient access to US-41, Sarasota Bradenton International Airport, Downtown Sarasota and regional employment centers.
THE OPPORTUNITY | An established 16-unit multifamily property for investors seeking existing rental income, operational flexibility and potential long-term value creation.
Offering memorandum and financial 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 #:
A4710044
Status:
Active
Beds:
0
Baths:
0
Type:
Commercial
Subtype:
Multi Family (5+)
Subdivision:
WHITFIELD COUNTRY CLUB HEIGHTS UN 1&2
Neighborhood:
34243sarasota
Listed Date:
Oct 19, 2026
Finished Sq Ft:
5,163
Total Sq Ft:
5,163
Lot Size:
15,002 sqft / 0.34 acres (approx)
Year Built:
1974
See this Listing
Schools
Interior
Cooling
Central Air, Other
Exterior
Construction Materials
Block
Financial
Tax Year
2025
Taxes
$18,228
Map
Community
- Address1410 MAGELLAN DRIVE SARASOTA FL
- SubdivisionWHITFIELD COUNTRY CLUB HEIGHTS UN 1&2
- CitySARASOTA
- CountyManatee
- Zip Code34243
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 WHITFIELD COUNTRY CLUB HEIGHTS UN 1&2 subdivision, 1410 MAGELLAN DRIVE SARASOTA FL is a Commercial for sale in SARASOTA, FL, 34243. It is listed for $2,750,000 To schedule a showing of MLS#a4710044 at 1410 MAGELLAN DRIVE in SARASOTA, FL, contact your InvestPro Properties, Inc. agent at 561-203-7022.
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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. 1410 MAGELLAN DRIVE
SARASOTA, FL