4001 Groveland Ave, Sarasota, FL, 34231
About This Home
LOCATION LOCATION LOCATION! Sarasota's hottest zip code is Presenting a strong multifamily investment opportunity just minutes from Siesta Key, this 5-unit hotel/ motel property offers current income, flexible rental options, and long-term upside in one of Sarasota’s most desirable rental markets. Located in a non-flood zone approximately 4 miles from Siesta Key Beach, the property is well positioned for long-term tenants, seasonal rentals, or potential short-term rental strategies. The building includes five 2-bedroom, 1-bath units, each offering broad tenant appeal and turnkey convenience. Long-term tenants are currently in place, while the property has the availability to hold a motel/hotel license, creating additional flexibility for future ownership and rental operations. Investor-friendly features include individually metered utilities, public water and sewer, paved parking, no required flood insurance, and reported general liability insurance of approximately $460. Recent improvements include exterior paint in 2024, remodeled kitchens in Units 2, 3, and 4 in 2024, updated bathrooms, major plumbing replacement completed in 2009 and 2010, roof replacement in 2014, blown-in roof insulation. The property also offers private amenities that help set it apart from typical multifamily options, including a heated and cooled swimming pool, screened patio room, and tropical outdoor space designed to enhance tenant or guest enjoyment. With current income, multiple rental strategy options, turnkey units, and a prime Sarasota location near Siesta Key, this property is a compelling opportunity for investors seeking cash flow, flexibility, and long-term appreciation potential. Schedule your private showing today.
Getting Around
Somewhat Walkable
Some Transit
Somewhat BikeableSchools
Construction
Condition
- Year built: 1974
Materials
- Foundation: Slab
- Roof: Shingle
- Construction materials: Stucco
Type & Style
- Home type: MultiFamily
- Property subType: Quadruplex,Multi Family
Interior
Appliances
- Appliances included: Dishwasher,Dryer,Microwave,Range,Range Hood,Refrigerator,Washer
- Laundry features: Inside,Laundry Closet
Bedrooms & Bathrooms
- Bedrooms: 10
- Bathrooms: 5
Features
- Ceiling Fan(s),Eating Space In Kitchen,Kitchen/Family Room Combo,Living Room/Dining Room Combo,Open Floorplan,Primary Bedroom Main Floor,Solid Surface Counters,Solid Wood Cabinets,Split Bedroom,Thermostat,Walk-In Closet(s)
- Flooring: Ceramic Tile
Heating & Cooling
- Heating features: Central,Electric
- Cooling features: Central Air
Interior Area
- Total structure area: 4,579
- Total interior livable area: 4,291 sqft
Property
Details
- Parcel number: 0072030032
- Zoning: RMF2
- Special condition: None
Features
- Private pool: Yes
- Pool features: Heated,In Ground
- Patio & porch: Covered,Patio,Porch,Screened
- Exterior features: Lighting,Rain Gutters,Sidewalk
- Has view: Yes
- View description: Pool
Lot
- Lot size: 0.59 Acres
- Features: In County
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Hurricane
- Lightning
- Inland Flooding
- Tsunami
How This Home’s Risks Compare
FEMA Declared Disasters in Sarasota County and Florida
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $7,331 | $87,972 |
| Home Insurance * | $2,174 | $26,088 |
| Property Taxes | $870 | $10,440 |
| Electricity | $431 | $5,182 |
| Total | $10,806 | $129,672 |
Income You'd Need if You Spent...
Florida FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-05-06 | Listed for sale | $1,500,000 |
| 2023-06-11 | Listing removed | -- |
| 2023-06-10 | Listed for rent | $1,800 |
| 2009-07-10 | Sold | $465,000 |
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