628 N Orange AVENUE, Sarasota, FL, 34236 | $3,250,000

Discover a unique and outstanding investment opportunity nestled in the heart of Sarasota's sought-after Gillespie Park neighborhood. This
remarkable collection consists of three parcels featuring a charming main Florida bungalow home, a detached 1-bedroom apartment, plus two
additional single-family homes, each with three bedrooms. Embrace the luxury of owning nearly 0. 69 acres of prime real estate in a vibrant
community. 30, 000 square feet of land offers a mixture of Downtown Edge (DTE) and Downtown Neighborhood (DTN) zoning. DTE zoning allows
for up to 25 units an acre, and DTN allows for up to 12 units an acre; however, the DTE portion qualifies for the Density Bonus program, which
qualifies for the development of up to 34 units and commercial development The centerpiece of this fascinating compound is the main bungalow
house, a true gem that radiates warmth and comfort, perfectly complemented by a serene swimming pool and an inviting paver patio, ideal for
soaking up the Florida sun or hosting unforgettable gatherings. The carefully designed outdoor spaces promise endless hours of relaxation and
enjoyment. Adding to the allure, a cozy 1-bedroom apartment offers privacy and convenience with its separate parking and entrance, presenting
a perfect opportunity for rental income or guest accommodation. The two additional parcels, each featuring a 3-bedroom single-family home,
offer a wealth of options for the discerning investor or homeowner. Live in the main residence and generate income by renting out the other
properties, or explore the potential to build anew in this prime location. Gillespie Park is well-known for its tranquil atmosphere, friendly
community, and proximity to downtown Sarasota's bustling array of shops, restaurants, arts, and entertainment options. This is a rare chance to
own a piece of Sarasota's charm with the added flexibility and potential that these parcels offer.

Features

  • Lot Size: 64 x 117
  • MLS#: A4618435
  • Days on Market: 32 days
  • Website: https://www.raveis.com
    /prop/A4618435/628norangeavenue_sarasota_fl?source=qrflyer
This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site comes in part from the IDX Program of MFRMLS (My Florida Regional MLS DBA Stellar MLS). The information being provided is 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. (last updated 11/23/2024 11:32:07 PM)
Listing courtesy of HARRY ROBBINS ASSOC INC   Phone: 941-924-8346

William Raveis Family of Services

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Customer Service

888.699.8876

Contact@raveis.com

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Melissa CohnRVP, Mortgage Banker, William Raveis Mortgage, LLC

NMLS Mortgage Loan Originator ID 16953

917.838.7300

Melissa.Cohn@raveis.com

Our Executive Mortgage Banker:

  • Is available to meet with you in our office, your home or office, evenings or weekends
  • Offers you pre-approval in minutes!
  • Provides a guaranteed closing date that meets your needs
  • Has access to hundreds of loan programs, all at competitive rates
  • Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction

Yokadi MejiaInsurance Sales Director, William Raveis Insurance

561.335.7966

Yokadi.Mejia@raveis.com

Our Insurance Division:

  • Will Provide a home insurance quote within 24 hours
  • Offers full-service coverage such as Homeowner's, Auto, Life, Renter's, Flood and Valuable Items
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    Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable

628 N Orange AVENUE, Sarasota, FL, 34236

$3,250,000

Customer Service

William Raveis Real Estate

Phone: 888.699.8876

Contact@raveis.com

Melissa Cohn

RVP, Mortgage Banker

William Raveis Mortgage, LLC

Phone: 917.838.7300

Melissa.Cohn@raveis.com

NMLS Mortgage Loan Originator ID 16953

5/6 (30 Yr)
Adjustable Rate Jumbo*
30 Year
Fixed-Rate Jumbo
15 Year
Fixed-Rate Jumbo
Loan Amount $2,600,000 $2,600,000 $2,600,000
Term 360 months 360 months 180 months
Initial Interest Rate** 6.625% 6.625% 6.625%
Interest Rate based on Index + Margin 8.125%
Annual Percentage Rate 7.282% 6.762% 6.036%
Monthly Tax Payment N/A N/A N/A
H/O Insurance Payment $125 $125 $125
Initial Principal & Interest Pmt $16,648 $16,648 $22,828
Total Monthly Payment $16,773 $16,773 $22,953

* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.

** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.

The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.