Properties

Property Description

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.

Features
: Electric
: Central Air
: Trees/woods
: Covered, Deck, Screened, Side Porch, Other
: Negotiable
: Dishwasher, Disposal, Dryer, Electric Water Heater, Microwave, Range, Refrigerator, Washer, Cooktop, Other
: Storage, Outdoor Shower
: Family Room
: Tile, Other
: Eating Space In Kitchen, Living Room/dining Room Combo, Window Treatments, Split Bedroom, Kitchen/family Room Combo, Thermostat, Ceiling Fan(s), Primary Bedroom Main Floor
: Laundry Room, Common Area
: City Lot, Oversized Lot, Drainage Canal, Landscaped
: Shingle, Other, Membrane
: Public Sewer
: Electricity Connected, Cable Connected, Sewer Connected, Water Connected
Address Map
FL
Sarasota
SARASOTA
34234
1335 40TH STREET
1
W83° 27' 21.2''
N27° 22' 11.3''
South
Driving North on US 41 from Downtown Sarasota Turn Right on Myrtle st, Turn Left on Central Ave, Turn Left on 40th st., Property is on the right.
PALM GROVE
MLS Addon
: Other
: Block
11
Tuttle Elementary
: Slab
Booker High
: Multi/split
281530500
281531515
: Cash
Booker Middle
: Shed(s), Storage, Guest House, Additional Single Family Home
: Street Paved
: No
$4,473
2025
: Public
RSF3

Residential For Sale

1335 40TH STREET, SARASOTA, Florida 34234

6 Bedrooms
6 Bathrooms
4,188 Sqft
Visits : 24 in 17 days
$949,000
Listing ID #A4688091
Basic Details
Property Type : Residential
Listing Type : For Sale
Listing ID : A4688091
Status : Active
Brokerage Name : PREFERRED SHORE LLC
Agent Name : Jeremy Egglefield
Bathrooms Total : 6
Price : $949,000
Bedrooms : 6
Rooms : 3
Bathrooms : 6
Square Footage : 4,188 Sqft
Year Built : 1930
Lot Size : 0.59 Acre
Building Area : 4,555 Sqft
Property SubType : Single Family Residence
Agent info
Gulf Sands Realty
Contact Agent

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Gulf Sands Realtors

Steve Foster

Stevefosterhomes14@gmail.com

Magdalena Carr

Mcarr.FloridaHomes@hotmail.com

Kristen Silver

kristengulfsandsrealty@gmail.com

Karen Macdonald

Floridahousedream@gmail.com