
$999,000
431 East Avenue
Sarasota, FL 34237
Listing updated: August 20, 2026 at 9:24 AM ET
Property type
Year built
Lot size
Price / sq ft
HOA dues
Day on market
Flood zone
About this home
Three renovated units, one corner parcel, four blocks from Main Street. A fully occupied Sarasota triplex producing $7,200 per month, or $86,400 annually, against a $999,000 asking price. That is an 8.65% gross yield and a basis of $333,000 per door. Every unit has been rebuilt inside. Large-format marble-look porcelain tile runs wall to wall through all three, with no carpet anywhere in the building. Walls and ceilings are crisp white under flush-mount LED fixtures in every room. Kitchens carry light flat-panel cabinetry, and stainless appliances, with stacked laundry inside the unit rather than a shared machine down the hall. Bathrooms are white vanities, chrome fittings and framed mirrors over the same tile. The finish package is deliberately consistent across all three units, and that consistency is what makes it turnkey: one material palette, one maintenance standard, and no unit sitting in line for work before it can lease. The mix spans three price points. A three-bedroom, two-bath at $3,800. A two-bedroom, one-bath at $1,900. A studio at $1,500. All three are occupied. The building is single-story concrete block on a slab under a shingle roof, with central air, public water and public sewer, and off-street parking for ten. Three water meters and three electric meters measure consumption per unit. The parcel sits in Flood Zone X. Between masonry construction and Flood Zone X, the two variables that drive Florida insurance both point the same direction. Ownership is fee simple with no HOA, no condominium association and no CDD fee. Two levers sit on top of the in-place rent. The first is vacation rental. The City of Sarasota extended its vacation rental ordinance to the Downtown Neighborhood zone district in March 2024, and this parcel falls inside it. Stays of seven nights or longer are permitted with a city certificate, which is a materially different revenue profile than a twelve-month lease in a location four blocks off Main Street. The second is the land. A 12,472 square foot corner site, zoned DTN and sitting under the City's Missing Middle Overlay, which can support density beyond the three units standing today where attainable-housing, design and permitting standards are satisfied. Nothing further is approved and any concept requires confirmation with the City, but the parcel carries a second thesis that a stabilized triplex elsewhere does not. Renovated, occupied, individually metered, insurable, and sitting on urban ground with room to grow. Income now, optionality later.
Estimated monthly payment
Estimate only. Taxes use the listing's reported amount where available; insurance is a Florida-average estimate. Your actual payment will vary — run a full calculation or talk to a lender.
Price & listing history1 days on market
- Status: ActiveAug 19, 2026
- Listed$999,000Aug 19, 2026
- Price increased$999,000
Facts & features
- Property type
- Residential Income
- Sub type
- Triplex
- Status
- Active
- Days on market
- 1
- Subdivision
- Pos Sub Of Lt 11 Blk N
- County
- Sarasota
- Year built
- 1959
- Living area
- 2,245 sq ft
- Price/sq ft
- $445
- Lot size
- 12,472 sq ft
- Lot category
- 1/4 to less than 1/2
- Flood zone
- X (12115C0134G)
- Annual taxes
- $7,907 (2025)
- Parcel #
- 2028120076
- Zoning
- DTN
- MLS #
- A4703278
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Interior Details
- Bedrooms
- 5
- Flooring
- Tile
- Appliances
- Dryer, Range, Range Hood, Washer
- Interior features
- Open Floorplan
- Laundry
- Electric Dryer Hookup, Laundry Room, Washer Hookup
Heating & Cooling
- Heating
- Central, Electric
- Cooling
- Central Air
Parking
- Parking features
- Driveway, Off Street, Open
HOA & Financial
- Total monthly fees
- $0/mo
- Total annual fees
- $0
- CDD
- No
- Listing terms
- Cash, Conventional, FHA, VA Loan
- Ownership
- Fee Simple
- Available for lease
- Yes
- Lease restrictions
- No
Exterior & Construction
- Exterior features
- Awning(s), Fence, Sidewalk
- Construction materials
- Block
- Roof
- Shingle
- Foundation
- Slab
- Road surface
- Asphalt
Utilities
- Sewer
- Public Sewer
- Water source
- Public
- Utilities
- Electricity Connected, Sewer Connected, Water - Multiple Meters, Water Connected
Schools
Letter grades: Florida DOE 2024–25 school grades (Orange, Seminole, Lake, Osceola, Brevard). Assigned schools from the listing agent — verify enrollment with the district.
Listing Details
- Listing date
- 2026-07-26
- On market date
- 2026-08-19
- Original list price
- $999,000
- Occupant type
- Tenant
- MLS area
- 34237 - Sarasota
- Listing AOR
- Sarasota - Manatee
- Status changed
- 2026-08-19
- Tax legal description
- LOTS 11 & 12 SUB OF LOT 11 BLK N PLAT OF SARASOTA
Flood risk
Minimal-risk area outside the mapped floodplain. Flood insurance is optional and typically low-cost.
Source: FEMA flood zone reported on the listing. Confirm current designation at FEMA Flood Map Service Center.
Location
Directions
Beginning at Fruitville Road, head north along N East Avenue. Proceed to 431 N East Avenue, which sits at the corner. Kindly refrain from disturbing the residents.
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Listings courtesy of Stellar MLS as distributed by MLS GRID
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Based on information submitted to the MLS GRID as of August 20, 2026 at 9:24 AM ET. 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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