1335 40th Street, Sarasota, FL 34234
Local realty services provided by:Better Homes and Gardens Real Estate Atchley Properties
Listed by: jeremy egglefield
Office: preferred shore llc.
MLS#:A4688091
Source:MFRMLS
Price summary
- Price:$949,000
- Price per sq. ft.:$208.34
About this home
Once-in-a-generation opportunity to own one of Sarasota’s most unique and versatile properties.
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....
Contact an agent
Home facts
- Year built:1930
- Listing ID #:A4688091
- Added:8 day(s) ago
- Updated:April 25, 2026 at 02:50 PM
Rooms and interior
- Bedrooms:6
- Total bathrooms:6
- Full bathrooms:6
- Flooring:Tile
- Dining Description:Eat In Kitchen, Living Room/Dining Room Combo
- Kitchen Description:Cooktop, Dishwasher, Disposal, Eat-in Kitchen, Kitchen/Family Room Combo, Microwave, Range, Refrigerator
- Bedroom Description:Primary Bedroom Main Floor, Split Bedroom
- Living area:4,188 sq. ft.
Heating and cooling
- Cooling:Central Air
- Heating:Electric
- Central air:Yes
Structure and exterior
- Roof:Membrane, Shingle
- Year built:1930
- Building area:4,188 sq. ft.
- Lot area:0.59 Acres
- Lot Features:Drainage Canal, Landscaped, Oversized, Paved
- Construction Materials:Block
- Exterior Features:Covered Porch/Patio, Deck, Outdoor Shower, Screened, Side Porch
- Foundation Description:Slab
- Levels:Multi/Split Story
Schools
- High school:Booker High
- Middle school:Booker Middle
- Elementary school:Tuttle Elementary
Utilities
- Water:Public, Water Connected
- Sewer:Public Sewer, Sewer Connected
Finances and disclosures
- Price:$949,000
- Price per sq. ft.:$208.34
- Tax amount:$4,473 (2025)
Features and amenities
- Appliances:Cooktop, Dishwasher, Disposal, Dryer, Electric Water Heater, Microwave, Range, Refrigerator, Washer
- Laundry features:Dryer, In Common Area, Laundry Room, Washer
- Amenities:Cable Connected, Ceiling Fans(s), Eat-in Kitchen, Kitchen/Family Room Combo, Living Room/Dining Room Combo, Primary Bedroom Main Floor, Split Bedroom, Thermostat, Window Treatments
- Pool features:Public Pool
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