
Under contract-accepting backup offers. Once-in-a-generation opportunity to own one of Sarasota's most unique and versatile properties.Set on a lush, private acre within city limits, this rare multi-unit compound blends income potential, lifestyle flexibility, and future development upside in a way that's nearly impossible to find.At the heart of the property is a charming, retreat-like main residence offering over 2,000 sq ft of living space, surrounded by mature tropical landscaping and anchor...Under contract-accepting backup offers. Once-in-a-generation opportunity to own one of Sarasota's most unique and versatile properties.Set on a lush, private acre within city limits, this rare multi-unit compound blends income potential, lifestyle flexibility, and future development upside in a way that's nearly impossible to find.At the heart of the property is a charming, retreat-like main residence offering over 2,000 sq ft of living space, surrounded by mature tropical landscaping and anchored by majestic grandfather oaks. Attached is a private mother-in-law suite with its own entrance, while the two additional one-bedroom units provide immediate, reliable rental income.Whether you're an owner-occupant, investor, or visionary builder, the possibilities here are exceptional: Live in the main home while generating income from multiple units Operate as a high-performing Airbnb or long-term rental property Create a private family compound or wellness retreat Expand and develop on included buildable lotsThe property has demonstrated income potential in the $70K-$90K+ range, depending on rental strategy.Beyond the structures, the land itself is a standout feature-offering a vibrant, almost jungle-like setting with a diverse collection of mature fruit trees including multiple varieties of mango, avocado, banana, lychee, loquat, and more.Outdoor living is elevated with a tranquil screened-in patio, multiple decks, outdoor spa-like shower and tub, and two large multi-use outbuildings. The larger structure offers incredible flexibility-ideal for a yoga studio, art space, workshop, or additional storage.Key Highlights: Multi-unit income property (triplex configuration) No HOA All units currently leased with reliable tenants Two additional buildable lots included in the sale Ample parking and flexible layout options Updated interiors with modern kitchens, bathrooms, and tile flooringLocated just minutes from Downtown Sarasota, St. Armands Circle, Lido Key, and SRQ Airport, this property combines privacy and convenience in one compelling package.Opportunities like this are rare-this is more than a property, it's a platform for lifestyle, income, and long-term upside.
View MoreCourtesy of
Agency Name: PREFERRED SHORE LLC
Agency Contact: 941-999-1179
Agent Name: Jeremy Egglefield
Presented by
Agent Name: Jeff Miloff
Agent Phone: Cell: 239.565.0831
Agency Title: The Keyes Company
Request Info
Send an email with a link to
1335 40th Street, Sarasota, FL 34234.
Email 1335 40th Street, Sarasota, FL 34234
Thank you for your inquiry! As a thank you, we have a Special Mortgage Offer for You.
We would like to provide you a free, no-obligation, home loan pre-approval review.