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*Rare Investment Opportunity!* Discover an exceptional multi-family duplex located in the heart of Sarasota, just a short walk from Trader Joe's, Publix, and a variety of fantastic restaurants. This property is ideally situated on a peaceful two-lane cul-de-sac, featuring beautiful county maintained treed green space, making it perfect for both multi-family living and as a family home with a separate private entrance mother-in-law apartment. This duplex boasts numerous features including central air and heat, a new roof installed in 2021, PVC plumbing, and separate electric meters with upgraded panels. This property presents a remarkable investment opportunity with cap rate that is expected to improve in this high-demand rental neighborhood. The duplex features two distinct units. Unit 1 is a spacious 2 bedroom, showcasing natural red oak floors, Hunter Douglas Cellular Tech shades, and an updated bath complete with floor-to-ceiling porcelain tile, an Italian hand-painted pedestal sink, matching bidet, and a luxurious jetted tub. A discreet laundry closet is conveniently located opposite the bath. The designer chef’s kitchen features high-end stainless steel appliances, butcher block counters, and dramatic porcelain flooring, complemented by an adjacent pantry for added efficiency. Unit 2, a cozy 1 bedroom, feels larger due to its open design and large windows offering lush tropical views. This unit includes a separate driveway and private gated entry, along with a secluded outdoor patio. It features laminate flooring in the main room, floor-to-ceiling ceramic tile in the bath, and high-quality carpet in the bedroom, complete with an jetted tub. The utility lines are all underground, eliminating any overhead wire! Upgraded windows enhance both efficiency and aesthetics. The meticulously landscaped grounds are adorned with mature trees that provide luxurious shade and complete privacy thanks to the fenced yard. Additional outdoor amenities include photovoltaic lighting and separate driveways for generous off-street parking, along with a permitted 100 sq. ft. workshop/storage building with electric. Don’t miss this incredible opportunity to own a beautifully maintained multi-family property in a thriving neighborhood—schedule a showing today!

PROPERTY FEATURES

Utilities : Electricity Available Water Access : 0 Sewer : Public Sewer
Parking Features : Fence
Exterior Features : Fence Lot Features : Cul-De-Sac Patio And Porch Features : Deck Road Surface Type : Paved Roof : Shingle
Zoning : RSF3
Heating : Central Cooling : Central Air
Construction Materials : Vinyl Siding
Interior Features : Ceiling Fans(s) Laundry Features : Laundry Closet Appliances : Dishwasher Flooring : Carpet

PROPERTY DETAILS

Street Address: 2116 PALM TERRACE
City: Sarasota
State: Florida
Postal Code: 34231
County: Sarasota
MLS Number: A4623939
Year Built: 1950
Courtesy of SHOWTIME REALTY

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