1335 40TH ST Sarasota, FL 34234
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 4,188 sqft
Price per Sqft $226
Subdivision Palm Grove
MLS Listing ID A4688091
Bedrooms 6
Full Baths 6
HOA Y/N No
Year Built 1930
Annual Tax Amount $4,473
Lot Size 0.590 Acres
Acres 0.59
Property Sub-Type Single Family Residence
Source Stellar MLS
Property Description
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 that's 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 you're 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 feature—offering 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 flexibility—ideal 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 rare—this is more than a property, it's a platform for lifestyle, income, and long-term upside.
Location
State FL
County Sarasota
Community Palm Grove
Area 34234 - Sarasota
Zoning RSF3
Rooms
Other Rooms Bonus Room, Family Room, Garage Apartment, Interior In-Law Suite w/Private Entry, Storage Rooms
Interior
Interior Features Ceiling Fans(s), Eat-in Kitchen, Kitchen/Family Room Combo, Living Room/Dining Room Combo, Primary Bedroom Main Floor, Split Bedroom, Thermostat, Window Treatments
Heating Electric
Cooling Central Air
Flooring Other, Tile
Fireplaces Type Family Room
Furnishings Negotiable
Fireplace true
Appliance Cooktop, Dishwasher, Disposal, Dryer, Electric Water Heater, Microwave, Other, Range, Refrigerator, Washer
Laundry Common Area, Laundry Room
Exterior
Exterior Feature Outdoor Shower, Storage
Utilities Available Cable Connected, Electricity Connected, Sewer Connected, Water Connected
View Trees/Woods
Roof Type Membrane,Other,Shingle
Porch Covered, Deck, Other, Screened, Side Porch
Garage false
Private Pool No
Building
Lot Description Drainage Canal, City Limits, Landscaped, Oversized Lot, Paved
Entry Level Multi/Split
Foundation Slab
Lot Size Range 1/2 to less than 1
Sewer Public Sewer
Water Public
Architectural Style Other
Structure Type Block
New Construction false
Schools
Elementary Schools Tuttle Elementary
Middle Schools Booker Middle
High Schools Booker High
Others
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition None
Virtual Tour https://www.propertypanorama.com/instaview/stellar/A4688091
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