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Active - Multi Family for sale
1410 MAGELLAN DRIVE, Sarasota, FL
Facts & features
Why you’ll love it
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. Tenant-occupied investment property. All units are currently leased and tenants are in place. Please do not visit the property or disturb the residents. Showings are by appointment only through the listing agent.
Listings courtesy of DOUGLAS ELLIMAN as distributed by MLS GRID.
Listed by: Rex Glasson • rex.glasson@elliman.com • DOUGLAS ELLIMAN
Co-listed by: DOUGLAS ELLIMAN
Source: Stellar MLS as distributed by MLS GRID, MLS#: A4710044
Based on info available as of Nov 13, 2026 at 12:33 PM EST.
Come see by yourself
Affordability
$15,424/mo
- Mortgage$13,905
- Property tax$1,519
- HOA fee
- Homeowners insurance
Beycome estimates only. Actual amounts and terms vary by lender and location.
$55,000 Credit back
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Travel times
About Whitfield Country Club Heights Un 1&2
This local overview has been generated by Artur AI, for informational purposes only. Please verify all details independently before relying on it.
Flood & climate risk
FEMA Flood Zone AE
In a FEMA Special Flood Hazard Area — flood insurance is typically required with a federally-backed mortgage.
More details
Source: FEMA National Flood Hazard Layer. Confirm on the FEMA Flood Map.
Fire
Storm
Air quality
Pollen
Disclaimer
Based on information submitted to the MLS GRID as of Nov 13, 2026 at 12:33pm EST. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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$55,000 Credit back
