Saturday, February 5, 2011

Siesta Key Real Estate

Siesta Key is one of the most popular areas in Sarasota to visit with it's world-famous white sugar sand beach and azure clear waters.  It also happens to be a great place to live or buy investment property.

Investment Opportunities

There are only a handful of hotels on Siesta Key.  Most vacationers opt to rent a fully furnished condo. The most popular rental condos have an on-site property manager, which handles reservations and unit cleaning and maintenance for guests, much like a hotel.  Investors can achieve positive cash flow with units with liberal rental restrictions.  The best investments are those that rent weekly or even daily.  Some will pay utility bills and condo fees out of rental revenue. 

Expect a typical in-season beachside (not necessarily right on the beach) can rent for upwards of $5000 per month.  Off season during our summer and fall months, we get vacationers from the Tampa and Orlando areas, so the rental market remains active throughout the year.  Sales prices range from the lower $200's for a 1 BR unit and up.

Residential Properties

Properties on a barrier island such as Siesta Key sell at a premium.  A starter single-family 2/2 home usually starts in the mid $300's and will need some kind of updating.  Beachfront and bayfront/ICW homes are priced well over $1 million.  Siesta Key is fairly large and offers boaters a wide range of waterfront options.

See Siesta Key Online

I have devoted separate pages on my website to Siesta Key single family homes and Siesta Key condo listings, live from our MLS.  You can also take a video tour of Siesta Key on those pages.

If you're interested in Siesta Key real estate, I look forward to working with you.

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