SARASOTA, FL 34232 3731 PAPAI DRIVE
$449,777
40 more
Presented By: with . - 941-923-7200
Beds • 5
Baths • 2
SQFT • 1,818
Home Details
Rare investment opportunity in Sarasota! Multi-family properties are seldom available in this predominantly single-family neighborhood, making this duplex a unique addition to any real estate portfolio. This income-producing property offers two separately leased units with a combined living area of approximately 1,818 square feet on a 7,800-square-foot lot.
The front unit features 3 bedrooms, 1 bathroom, & a dedicated laundry room while the second (Back) unit offers 2 bedrooms, 1 bathroom, and backyard access. Both units are currently occupied through 3/31/2026, providing immediate rental income and minimizing vacancy risk for investors seeking stable cash flow. Electric/Water are not separately metered and Landlord pays these two utilities.
Several major improvements have already been completed, including a new roof in 2019, updated HVAC in 2023 (back unit uses window units), and an updated electrical panel in 2023. The property is in the central Sarasota area with easy access to shopping, dining, schools, employment centers, downtown Sarasota, and the area's world-famous Gulf Coast beaches. Gross rents of $4,010. Annual Leases. Seller will consider owner financing. Showings require advanced notice. Call today!
Presented By: with . - 941-923-7200
Interior Features for 3731 PAPAI DRIVE
Bedrooms
Total Bedrooms5
Bathrooms
Total Baths2
Other Interior Features
LivingAreaSourcePublic Records
Air Conditioning Y/NYes
Fireplace Y/NNo
FlooringTile
Furnished Y/NUnfurnished
Heating Y/NYes
Interior AmenitiesCeiling Fan(s), Open Floorplan, Thermostat
Laundry FeaturesLaundry Room
Window FeaturesBlinds
General for 3731 PAPAI DRIVE
Additional Parcels Y/NNo
AppliancesDishwasher, Range, Range Hood, Refrigerator
Attached Garage No
Building Area UnitsSquare Feet
Carport Y/NNo
CitySARASOTA
Construction MaterialsBlock, Stucco
CoolingCentral Air, Wall/Window Unit(s)
CountySarasota
DirectionsFrom the intersection of McIntosh Rd and Bee Ridge Rd:
Head East on Bee Ridge Rd. Make a left on to Crest Ridge Dr. then an immediate left on Lahaina Dr. The road will wrap you to the right which becomes Papai Dr. Property will be down 7 properties on the right.
Elementary SchoolBrentwood Elementary
Flood Zone CodeX
Flood Zone Code XY
Garage Y/NNo
Gross Income48120
HeatingCentral
High SchoolSarasota High
Land Lease Y/NNo
Lease Considered Y/NYes
Legal DescriptionLOT 302 RIDGEWOOD ESTATES 1ST ADD
LevelsOne
Listing TermsCash, Conventional, FHA, Owner May Carry, VA Loan
Living Area UnitsSquare Feet
Lot Size Square Feet7800
Lot Size UnitsSquare Feet
MLS Area34232 - Sarasota/Fruitville
Minimum Lease1 Month
New ConstructionNo
Number Of Units Total2
Occupancy TypeTenant
Ok to Lease12 Months
Other StructuresShed(s)
OwnershipFee Simple
Property ConditionCompleted
Property SubtypeDuplex
Property TypeResidential Income
RoofMembrane
Security FeaturesSmoke Detector(s)
Senior Community Y/NNo
SewerPublic Sewer
Standard StatusActive
StatusActive
Subdivision NameRIDGEWOOD ESTATES ADD 01 RESUB
Tax Annual Amount3818
Tax Lot302
Tax Year2025
Total Actual Rent4010
UtilitiesBB/HS Internet Available, Cable Connected, Electricity Connected, Public, Sewer Connected, Water Connected
ViewTrees/Woods
Virtual TourClick here
Water Access Y/NNo
Water View Y/NNo
Year Built1960
ZoningRSF3
Exterior for 3731 PAPAI DRIVE
Building Area Total1935
Exterior AmenitiesFenced, Storage
Foundation DetailsSlab
Lot FeaturesIn County
Lot Size Acres0.18
Lot Size Area7800
Number of Buildings1
Number of Separate Electric Meters1
Number of Separate Water Meters1
Parking FeaturesDriveway
Private PoolNo
Road Frontage TypeStreet Paved
Road ResponsibilityPublic Maintained Road
Road Surface TypePaved, Asphalt
SpaNo
Water SourcePublic
Waterfront Y/NNo
Additional Details
Price History
Wendolph Thony
Realtor®
