Donna Hodges

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Listing provided courtesy of RELAX PROPERTY GROUP, LLCas Distributed by MLSGrid- MLS# MFRA4697057MLS Provider

3731 PAPAI DRIVESARASOTA, FL 34232

Multi-Family · 5 Beds · 1,818 Sq. ft. | 0.18 Acres
$449,777 Active

3731 PAPAI DRIVE Overview

Time on Site:
15 days
Visits:
0

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!

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3731 PAPAI DRIVE Facts & Features

  • Type Multi-Family
  • Sq. ft. 1,818
  • Price/Sq.ft. $247
  • Lot 0.18 Acres

Details

General

Association/HOA

  • Association: No

School Information

  • Elementary School: Brentwood Elementary
  • High School: Sarasota High

Income/Expenses

  • Gross Income: 48120

Building Information

  • New Construction: No
  • Year Built: 1960

Location/Region

  • Country: US
  • County Or Parish: Sarasota
  • MLS Area Major: 34232 - Sarasota/Fruitville
  • Subdivision Name: RIDGEWOOD ESTATES ADD 01 RESUB
  • Township: 36

Rent/Lease Information

  • Lease Term: Twelve Months

Tax Information

  • Tax Annual Amount: 3818
  • Tax Year: 2025

General Information

  • Furnished: Unfurnished
  • Listing Terms: Cash,Conventional,FHA,Owner Financing,VA Loan
  • Ownership: Fee Simple
  • Parcel Number: 0063150041
  • Property Condition: Completed
  • Property Sub Type: Duplex
  • Property Type: Residential Income
  • Senior Community: No
  • Special Listing Conditions: None
  • Zoning: RSF3

Interior

Parking Information

  • Garage: No

Beds/Baths

  • Bathrooms Total: 2
  • Bedrooms Total: 5

Building Interior

  • Building Area Source: Public Records
  • Building Area Total: 1935
  • Building Area Units: Square Feet

General Information

  • Appliances: Dishwasher,Range,Range Hood,Refrigerator
  • Cooling: Central Air,Wall/Window Unit(s)
  • Fireplace: No
  • Flooring: Tile
  • Foundation Details: Slab
  • Heating: Central
  • Interior Features: Ceiling Fans(s),Open Floorplan,Thermostat
  • Laundry Features: Laundry Room
  • Levels: One
  • Living Area: 1818
  • Living Area Source: Public Records
  • Living Area Units: Square Feet
  • Security Features: Smoke Detector(s)
  • Spa: No
  • Window Features: Blinds

Exterior

Parking Information

  • Parking Features: Driveway

Lot Information

  • Additional Parcels: No
  • Lot Features: In County,Paved
  • Lot Size Acres: 0.18
  • Lot Size Square Feet: 7800
  • Road Responsibility: Public Maintained Road
  • Road Surface Type: Asphalt
  • Water Source: Public

Waterfront/View

  • View: Trees/Woods
  • Waterfront: No

Building Exterior/Construction

  • Attached Garage: No
  • Construction Materials: Block,Stucco
  • Roof: Membrane

General Information

  • Carport: No
  • Exterior Features: Fence,Storage
  • Number Of Units Total: 2
  • Other Structures: Shed(s)
  • Pool Private: No
  • Sewer: Public Sewer
  • Utilities: BB/HS Internet Available,Cable Connected,Electricity Connected,Public,Sewer Connected,Water Connected

3731 PAPAI DRIVE Neighborhood

Community

34232 (SARASOTA) Demographics

46
Median Age
3,125
Population Density (per sq. mile)
38%
College Educated
$69,075
Estimated Median Income
9,944
Estimated Total Home Owners
4,442
Estimated Total Renters
69% / 31%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data unavailable, School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

3731 PAPAI DRIVE Monthly Cost

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$
$
Meredith Medvec
Dylan Leitman
* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

3731 PAPAI DRIVE Market Data

Based on the last 30 days in this zip code

$382,303
Average List Price
$253
Average Price per Square Foot
33
Properties Sold
99
Average Days on Market
208
Properties for Sale
Calculations provided by Reliance Network

3731 PAPAI DRIVE History

Date Event Value Agent
6/15/2026Source: My Florida Regional MLS Added to Database
June 15, 2026