3510 Cheshire Sq | Sarasota, FL 34237
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3510 Cheshire Sq
Sarasota, FL 34237
The Lexington · Multifamily Property For Sale · 1752 Units
Investment Highlights
- Rare Opportunity to Acquire a Class “B+” Apartment Community in the Highly Desirable Sarasota Market
- Significant Value-Add Opportunity to Increase Effective Rents by an Average of $637
- Excellent Connectivity to Downtown Sarasota and Nations Top Beaches
- Outstanding Historical Organic Rent Growth; Unprecedented Rent Growth Projections
- Limited Future Supply Will Accelerate Rent Growth in the Area; Competitive Unit Mix with an Average of 1,040 RSF
- Over $1.6 Million in Transformative Capital Expenditures; Attractive Renovations on 23% of the Units
PROPERTY FACTS
| No. Units | 1752 | Building Size | 277,680 SF |
| Property Type | Multifamily | Average Occupancy | 99% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1975 |
| Building Class | C | Parking Ratio | 1.56/1,000 SF |
| Lot Size | 18.55 AC |
| No. Units | 1752 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 18.55 AC |
| Building Size | 277,680 SF |
| Average Occupancy | 99% |
| No. Stories | 2 |
| Year Built | 1975 |
| Parking Ratio | 1.56/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Fireplace
- Storage Space
- Washer/Dryer Hookup
- Heating
- Tile Floors
- Crown Molding
- Kitchen
- Refrigerator
- Oven
- Range
- Views
- Walk-In Closets
- Yard
Site Amenities
- Clubhouse
- Fitness Center
- Laundry Facilities
- Picnic Area
- Playground
- Pool
- Property Manager on Site
- Spa
- Tennis Court
- Car Wash Area
- Grill
- Pet Play Area
- Volleyball Court
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 96 | - | 733 |
| 2+2 | 120 | - | 1,114 |
| 3+2 | 1536 | - | 1,353 - 1,500 |
PROPERTY TAXES
| Parcel Number | 2022-09-0003 | Improvements Assessment | $57,755,776 |
| Land Assessment | $11,505,965 | Total Assessment | $69,261,741 |
PROPERTY TAXES
Parcel Number
2022-09-0003
Land Assessment
$11,505,965
Improvements Assessment
$57,755,776
Total Assessment
$69,261,741
zoning
| Zoning Code | RMF3 (Residential Multi Family) |
| RMF3 (Residential Multi Family) |
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