1410 Magellan Drive
Sarasota, FL 34243 · Manatee County
$2,750,000
0
Beds
0
Baths
5,163
Sq ft
1974
Year built
Location
About this home
MAGELLAN APARTMENTS | 16-UNIT SARASOTA MULTIFAMILY INVESTMENT Discover an established income-producing apartment community at 1410 Magellan Drive, Sarasota, FL 34243. Offered at $2,750,000, this 16-unit property combines existing rental income, month-to-month tenancy and potential value-add opportunities in the Sarasota-Bradenton investment market. THE PROPERTY | Sixteen efficiency apartments in a two-story garden-style building. Ownership reports full occupancy, with all 16 units operating on month-to-month rental arrangements. The property features block construction, a slab foundation and approximately 5,163 square feet of building area, according to MLS property information. RENTAL INCOME | Current scheduled gross rental income of $192,000 annually, averaging $1,000 per apartment monthly. These figures represent scheduled rents, not independently verified historical collections. VALUE-ADD POTENTIAL | Month-to-month leases provide flexibility to evaluate future rental adjustments and operational improvements, subject to applicable laws and existing tenant rights. Investment underwriting identifies potential rent growth without requiring a substantial renovation program. PROPERTY IMPROVEMENTS | Major interior renovations are reported during 2016–2018, with a permit-documented reroof during 2019–2020. Buyers should verify the scope and condition of improvements. LOCATION | Located in the Whitfield area near the Sarasota-Manatee County line, with convenient access to US-41, Sarasota Bradenton International Airport, Downtown Sarasota and regional employment centers. THE OPPORTUNITY | An established 16-unit multifamily property for investors seeking existing rental income, operational flexibility and potential long-term value creation. Offering memorandum and financial underwriting available for qualified purchasers. All income, expenses, occupancy, leases, property details and investment projections are subject to independent buyer verification.
Facts & features
Interior
- Living area
- 5,163 sq ft
- Cooling
- Central Air, Other
Exterior & lot
- Lot size
- 0.34 acres
- Construction
- Block
Financial
- Price / sqft
- $533/sqft
- Annual tax
- $18,228
- Tax year
- 2025
Property
- Property type
- Commercial
- Year built
- 1974
- Subdivision
- Whitfield Country Club Heights Un 1&2
- Days on market
- 1 day
Estimate your monthly cost
Twenty percent down over thirty years at 6.5%. Insurance is not included.
- Principal & interest
- $13,905
- Property tax
- $1,519
- Estimated monthly
- $15,424
Ask about this property
Answered from this listing’s own figures and the sales around it.
Similar homes nearby
Price history
From the property’s MLS record.
| Date | Event | Price | Change |
|---|---|---|---|
| Oct 19, 2026 | Listed | $2,750,000 | — |
Neighbourhood
The schools below come from the MLS record for this home. Walking, transit and cycling figures for Sarasota, FL are not connected yet, so this page does not show them.
About this area
SARASOTA, FL sits in Manatee County.
Written from this listing’s own record and the homes we hold nearby.
- Elementary school
- Not listed
- Not named in the MLS record for this home
- Middle school
- Not listed
- Not named in the MLS record for this home
- High school
- Not listed
- Not named in the MLS record for this home
Frequently asked questions
What would 1410 MAGELLAN DRIVE, SARASOTA cost per month?
About $15,425 a month: $13,906 principal and interest, $1,519 property tax. That assumes 20% down at 6.5% over 30 years, and leaves out insurance.
Is 1410 MAGELLAN DRIVE, SARASOTA priced fairly?
It is listed at $2,750,000. There are not enough comparable homes close by to put a range around that yet, so the asking price is the honest answer.
How long has 1410 MAGELLAN DRIVE, SARASOTA been on the market?
It came on the market today.
Has the price of 1410 MAGELLAN DRIVE, SARASOTA changed?
The price has not moved since it was listed.
How big is 1410 MAGELLAN DRIVE, SARASOTA?
5,163 square feet. That is $533 a square foot.
What year was 1410 MAGELLAN DRIVE, SARASOTA built?
Built in 1974.
What is the HOA fee at 1410 MAGELLAN DRIVE, SARASOTA?
The feed lists no association fee for this property.
What are the property taxes at 1410 MAGELLAN DRIVE, SARASOTA?
Property tax works out to about $1,519 a month, $18,228 a year, on the 2025 assessment.
Is 1410 MAGELLAN DRIVE, SARASOTA still available?
It is still on the market.
Listing
- Listed by
- Rex Glasson
- Brokerage
- DOUGLAS ELLIMAN
- MLS number
- MFR814443557
Listing information is deemed reliable but is not guaranteed.