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  • MLS#: A4688091 ( Residential )
  • Street Address: 1335 40th Street
  • Viewed: 27
  • Price: $949,000
  • Price sqft: $208
  • Waterfront: No
  • Year Built: 1930
  • Bldg sqft: 4555
  • Bedrooms: 6
  • Total Baths: 6
  • Full Baths: 6
  • Days On Market: 10
  • Additional Information
  • Geolocation: 27.3698 / -82.5441
  • County: SARASOTA
  • City: SARASOTA
  • Zipcode: 34234
  • Subdivision: Palm Grove
  • Elementary School: Tuttle Elementary
  • Middle School: Booker Middle
  • High School: Booker High
  • Provided by: PREFERRED SHORE LLC
  • Contact: Jeremy Egglefield
  • 941-999-1179
  • mfrmls
  • DMCA Notice
  • Description
    Once in a generation opportunity to own one of Sarasotas most unique and versatile properties. Set on a lush, private acre within city limits, this rare multi unit compound blends income potential, lifestyle flexibility, and future development upside in a way thats nearly impossible to find. At the heart of the property is a charming, retreat like main residence offering over 2,000 sq ft of living space, surrounded by mature tropical landscaping and anchored by majestic grandfather oaks. Attached is a private mother in law suite with its own entrance, while the two additional one bedroom units provide immediate, reliable rental income. Whether youre an owner occupant, investor, or visionary builder, the possibilities here are exceptional: Live in the main home while generating income from multiple units Operate as a high performing Airbnb or long term rental property Create a private family compound or wellness retreat Expand and develop on included buildable lots The property has demonstrated income potential in the $70K$90K+ range, depending on rental strategy. Beyond the structures, the land itself is a standout featureoffering a vibrant, almost jungle like setting with a diverse collection of mature fruit trees including multiple varieties of mango, avocado, banana, lychee, loquat, and more. Outdoor living is elevated with a tranquil screened in patio, multiple decks, outdoor spa like shower and tub, and two large multi use outbuildings. The larger structure offers incredible flexibilityideal for a yoga studio, art space, workshop, or additional storage. Key Highlights: Multi unit income property (triplex configuration) No HOA All units currently leased with reliable tenants Two additional buildable lots included in the sale Ample parking and flexible layout options Updated interiors with modern kitchens, bathrooms, and tile flooring Located just minutes from Downtown Sarasota, St. Armands Circle, Lido Key, and SRQ Airport, this property combines privacy and convenience in one compelling package. Opportunities like this are rarethis is more than a property, its a platform for lifestyle, income, and long term upside.
Property Features
Appliances
  1. Cooktop
  2. Dishwasher
  3. Disposal
  4. Dryer
  5. Electric Water Heater
  6. Microwave
  7. Other
  8. Range
  9. Refrigerator
  10. Washer
Home Owners Association Fee
  1. 0.00
Carport Spaces
  1. 0.00
Close Date
  1. 0000-00-00
Cooling
  1. Central Air
Country
  1. US
Covered Spaces
  1. 0.00
Exterior Features
  1. Outdoor Shower
  2. Storage
Flooring
  1. Other
  2. Tile
Furnished
  1. Negotiable
Garage Spaces
  1. 0.00
Heating
  1. Electric
High School
  1. Booker High
Insurance Expense
  1. 0.00
Interior Features
  1. Ceiling Fans(s)
  2. Eat-in Kitchen
  3. Kitchen/Family Room Combo
  4. Living Room/Dining Room Combo
  5. Primary Bedroom Main Floor
  6. Split Bedroom
  7. Thermostat
  8. Window Treatments
Legal Description
  1. LOTS 4
  2. 5
  3. 18 & 19
  4. BLK G
  5. PALM GROVE
Levels
  1. Multi/Split
Living Area
  1. 4188.00
Lot Features
  1. Drainage Canal
  2. City Limits
  3. Landscaped
  4. Oversized Lot
  5. Paved
Middle School
  1. Booker Middle
Area Major
  1. 34234 - Sarasota
Net Operating Income
  1. 0.00
Occupant Type
  1. Tenant
Open Parking Spaces
  1. 0.00
Other Expense
  1. 0.00
Other Structures
  1. Additional Single Family Home
  2. Guest House
  3. Shed(s)
  4. Storage
Parcel Number
  1. 0026120058
Property Type
  1. Residential
Roof
  1. Membrane
  2. Other
  3. Shingle
School Elementary
  1. Tuttle Elementary
Sewer
  1. Public Sewer
Style
  1. Other
Tax Year
  1. 2025
Township
  1. 36
Utilities
  1. Cable Connected
  2. Electricity Connected
  3. Sewer Connected
  4. Water Connected
View
  1. Trees/Woods
Views
  1. 27
Virtual Tour Url
  1. https://www.propertypanorama.com/instaview/stellar/A4688091
Water Source
  1. Public
Year Built
  1. 1930
Zoning Code
  1. RSF3