3731 PAPAI DRIVE, Sarasota, FL 34232

• 5 beds |
• 2 baths |
• 1,818 sqft

Property Description

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!

Listing Status:

Pending

Date Added:

June 15, 2026

Data Last Updated:

July 28, 2026 at 7:22AM

Listing Office:

RELAX PROPERTY GROUP, LLC : 941-923-7200

Listing Agent:

Dane Peterson : 239-357-5692

MLS ID:

A4697057

Interior

• General: Ceiling Fans(s)Open FloorplanThermostat
• Appliances: DishwasherRangeRange HoodRefrigerator
• Laundry: Laundry Room
• Flooring: Tile
• A/C: Central AirWall/Window Unit(s)
• Heating: Central

Exterior

• General: FenceStorage
• Other Structures: Shed(s)
• Parking: Driveway

Construction

• Roofing: Membrane
• Windows: Blinds
• General: BlockStuccoOneSlab

Location

• Road/Access: Asphalt
• Originating MLS: Stellar MLS
• County: Sarasota

Lot

• Zoning: RSF3LOT 302 RIDGEWOOD ESTATES 1ST ADD0063150041
• View: Trees/Woods

Utilities

• Utilities: BB/HS Internet AvailableCable ConnectedElectricity ConnectedPublicSewer ConnectedWater Connected
• Water: Public
• Sewer: Public Sewer

Financial

• Source: Stellar MLS
• Ownership: Fee Simple