The Cove at Siesta Gateway

We are pleased to present The Cove at Siesta Gateway, a recently renovated 7-unit multifamily asset located just minutes from the beach in Sarasota, FL. This property offers a compelling blend of immediate income potential, short-term rental upside, and long-term redevelopment flexibility.

All in a premier coastal location just a half-mile walk to Public Beach Access 12 and a short stroll to Benderson’s new 24-acre Siesta Promenade mixed-use development.

The property consists of 7 units across 3 solid masonry buildings on a 0.34-acre parcel and has recently undergone significant renovations, including drywall replacement and full interior restorations, following flooding sustained during hurricanes at the end of 2024.

All units now feature luxury vinyl plank flooring, quartz countertops, white cabinetry, new appliances, fresh paint, and updated bathrooms. Recent capital improvements also include new roofs, upgraded PVC plumbing, exterior paint, refreshed landscaping, and a newly shelled parking area that eliminates lawn care costs.

With favorable RMF-4 zoning, future redevelopment potential adds to the investment appeal, while favorable seller financing is available for qualified buyers. Investors can further enhance returns by operating select units as seasonal vacation rentals, capitalizing on proximity to Florida’s top-rated beach.

Investment Highlights

• Favorable Below Market Seller Financing w/ Potential Interest-Only Payments Available for Qualified Buyer
• Significantly Renovated, Including Drywall Replacement & Interior Restoration
• Recent Capital Improvements Include New Roofs, Upgraded PVC Plumbing, Fresh Exterior Paint, Enhanced Landscaping, and a Newly Shelled Parking Area—Eliminating Lawn Care Expenses
• All Units Feature Modern Upgrades Including Luxury Vinyl Plank Flooring, Quartz Countertops, White Cabinetry, New Appliances, Fresh Paint & Updated Bathrooms
• Highly Favorable RMF-4 Zoning Providing Significant Upside for Future Re-Development
• Exceptional Opportunity to Capitalize on Proximity to Siesta Key by Maximizing Income Through Seasonal Vacation Rental Strategy for Select Units
• 7-Units in 3 Solid Masonry Construction Buildings on 1 Parcel Totaling 0.34-Acres
• Just a Half-Mile Walk to Public Beach Access 12 Connected to Siesta Beach—Ranked Florida’s #1, USA’s #2 Beach (TripAdvisor 2024)
• 5-Minute Walk from Siesta Promenade, a 24-Acre Mixed-Use Development by Benderson