Just Sold: Sarasota Fourplex Sells for $1.1 Million, Under Contract in Just 3 Days

1739 Siesta Drive | West of Trail, Sarasota, Florida

Not every Sarasota real estate transaction involves a luxury waterfront home or condominium. Sarasota also has an active market for multifamily investment properties, and selling these properties requires a different approach.

Earlier this year, I represented the seller of 1739 Siesta Drive, a four-unit apartment building located West of Trail, approximately half a mile from the north bridge to Siesta Key.

Listed at $1,125,000, the property went under contract in just three days and closed on June 3, 2026, for $1,100,000.

A Sarasota Investment Property Owned From Boston

My seller was an experienced real estate investor based in Boston, with a portfolio of hundreds of apartment units in the Boston area.

Although the Sarasota property had served as part of his investment portfolio, he ultimately decided it made more sense to concentrate his holdings closer to home.

This is a situation that many out of state Florida property owners can relate to. Investment priorities evolve, and sometimes selling a property is less about the property itself and more about how it fits into an owner’s broader financial strategy.

Marketing a Four-Unit Property With Existing Tenants

One of the distinguishing characteristics of 1739 Siesta Drive was that all four apartments were occupied.

The building consisted of two two-bedroom units and two one-bedroom units, each with its own lanai. The property also featured recent improvements, including a new roof and updated kitchens and bathrooms.

Marketing an occupied multifamily property requires consideration for both prospective buyers and existing tenants.

As the listing agent, I coordinated showing access and tenant communications, helped facilitate inspections, and managed the details locally while my seller remained in Boston.

My goal was to make the selling process as streamlined as possible for everyone involved.

Under Contract in Just Three Days

I believe effective marketing played an important role in attracting interest quickly.

When selling a multifamily investment property, it’s important to reach buyers who understand the opportunities and considerations associated with owning rental real estate.

With the property strategically positioned and marketed, 1739 Siesta Drive went under contract just three days after being listed.

The final sale price of $1,100,000 represented approximately 98% of the asking price.

Navigating a 1031 Exchange

Another interesting aspect of this transaction was that the buyer was purchasing the property as part of a 1031 exchange.

A 1031 exchange allows qualifying real estate investors to defer certain capital gains taxes when selling one investment property and acquiring another, provided the transaction meets IRS requirements.

Transactions involving a 1031 exchange can involve additional deadlines and coordination among the buyer, real estate agents, closing professionals, and qualified intermediary.

Understanding these requirements and working alongside the appropriate professionals is an important part of helping investment-property transactions proceed smoothly.

Selling Sarasota Investment Property From Out of State

For property owners who live outside Florida, selling a Sarasota investment property doesn’t necessarily mean making repeated trips to manage every detail.

From coordinating access with tenants to facilitating inspections, communicating with the parties involved, and assisting with closing arrangements, having a local real estate professional can make the process much more manageable.

Every investment property is different, and understanding its location, condition, tenancy, and market position is essential to developing an effective sales strategy.

Thinking About Selling a Sarasota Multifamily Property?

Whether you own a duplex, triplex, fourplex, or another residential investment property in Sarasota or Manatee County, I’d welcome the opportunity to discuss your real estate goals.

I work with local and out of state property owners who are evaluating their options in the Sarasota market.

Considering selling a property in Sarasota? Learn more about my Sarasota real estate services and how I help property owners navigate the selling process.

Margot Vigar, REALTOR®

Coldwell Banker Realty | Global Luxury

Sarasota Luxury, Waterfront & Residential Real Estate

Buy with confidence and sell with success.

www.margotsellssarasota.com