Executive House Apartments
Closed1000 N Lockwood Ridge Road, Sarasota, FL 34237
Property type
Multifamily
Unit / Space count
88
Price
$9,600,000
Building size
74,352 sf
Rentable area
74,352 SF
Year built
1972
Year renovated
Occupancy
Zoning code
Lot size
6.10 Acres
Sold/status
Sold · Date unknown
Sale price
$9600000
Bedroom count
Property description
Executive House is an 88-unit multifamily property located in Sarasota, FL in Sarasota County. The property is comprised of 9 buildings constructed in 1972 featuring concrete block construction and pitched asphalt shingle roofs. The property includes a unit mix of 48 - 1 BD 1 BA units (685 SF) and 40 - 2 BD 2 BA units (865 SF). An investor may have the ability to build an additional 20+/- units on the land where the current tennis court is located. Residents enjoy a variety of amenities including a fitness center, large sparkling pool, laundry facilities on site, a lake with fountain features, clubhouse with activity center and 24-hour emergency maintenance. In units, residents enjoy oversized closets, lake views, private patios and dishwashers. Water & sewer are individually metered and paid for by the tenant. Parking is convenient and residents can park just steps away from their unit. The property is located near several major employers and points of interest including The Mall at University Town Center (6.0 Mi), The Ringling Museum of Art (5.4 Mi), Van Wezel Theatre (3.3 Mi), Bobby Jones Golf Club (1.3 Mi), the University of South Florida Sarasota-Manatee (6.0 Mi) and Sarasota Bradenton International Airport (5.3 Mi). Several award-winning beaches are nearby including Sarasota Beach (9.0 Mi), Siesta Key (9.0 Mi), Lido Key (6.5 Mi), Long Boat Key Beach (14.4 Mi) and Anna Maria (21.3 Mi). Travel is easy with I75 located 4.3 miles away, which provides convenient access to Downtown St. Petersburg (38.2 Mi), Downtown Tampa (59 Mi) and Tampa International Airport (56.3 Mi).
Property highlights
- 88-Unit Multifamily Property Located in Sarasota, FL in Sarasota County, FL
- Comprised of 9 Buildings Constructed in 1972 Featuring Concrete Block Construction & Pitched Asphalt Shingle Roofs
- Long-Term Ownership & Significant Value-Add Opportunity to Upgrade Interiors, Which Will Allow Rents to be Increased to Market Levels
- May Have Ability to Build an Additional 20 +/- Units on the Land Where Old Tennis Court is Located
- Water/Sewer Individually Metered & Paid by Tenant
- Residents Enjoy a Variety of Amenities Including a Fitness Center, Large Sparkling Pool, Laundry Facilities On Site, Lake With Fountain Features, Clubhouse With Activity Center and 24-Hour Emergency Maintenance
- In Units, Residents Enjoy Oversized Closets, Lake Views & Private Patios