1123 CRESCENT STREET UNIT 1123/1125

For sale Days on market 15

$1,525,000

$893/sq ft

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Overview

Bedroom

Year Built

1968

Sqft

1708

Property Type

Duplex

Property Description

Under contract-accepting backup offers. EXCEPTIONALLY RARE Siesta Key Income Property | Zoned for DAILY Rentals — a true Siesta Key Unicorn. This rare 4-bedroom, 4-bath duplex offers a unique opportunity to acquire a short-term rental asset just a short stroll from the world-famous white sands of Siesta Key Beach, one of the most supply-constrained and consistently in-demand vacation markets in Florida. Configured as two fully renovated 2BR/2BA residences, this property delivers unmatched flexibility—ideal as a high-performing investment, 1031 replacement property, vacation home, or personal residence with income potential. Zoned for DAILY rentals—a highly limited and valuable designation on Siesta Key—the property is currently operated as a professionally managed short-term rental with future bookings in place. Designed for both guest appeal and operational efficiency, each unit features open-concept living spaces, updated kitchens, in-unit laundry, durable tile flooring throughout, and tasteful coastal furnishings. The property is being sold fully furnished and turnkey, allowing for a seamless transition of ownership with no operational downtime. Outdoor amenities further support strong occupancy and repeat bookings, including a fenced, heated pool, tropical landscaping, lounging and dining areas, and a private grilling space. Four dedicated off-street parking spaces (two per unit) add a meaningful competitive advantage in this highly desirable beach location. Professionally operated as a vacation rental since 2020, the property has achieved documented gross rental income approaching $200,000 annually. A temporary decline in late 2024 and early 2025 was event-driven rather than demand-driven, due to regional hurricane-related cancellations. Travel demand to Siesta Key is now rebounding, and bookings are steadily returning—positioning the property for revenue normalization and potential growth consistent with prior peak years. Whether you are a short-term rental investor, 1031 exchange buyer, or an owner seeking to blend lifestyle with income, this property offers a rare combination of location, zoning, resilience, and upside in one of Florida’s most desirable coastal markets. Detailed income and expense reports available upon request. Buyer to verify exchange eligibility and tax treatment with qualified advisors. Private showings by appointment only.

Property Details

MLS#

A4678397

Address

1123 CRESCENT

City

Sarasota

State/county

Zip/Postal Code

34242

Area

Point O Rocks Terrace Add

Country

United States

HOA

Assoc Fee

$--

Assoc Fee Pd

Tax Amount

$13,721

Maint Fee

$--

Tax Year

2025

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