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SARASOTA — A Sarasota apartment complex on Fruitville Road has sold for $11.6 million.
Presidential Apartments, a 84-unit, two story community, sits on 4.7 acres just west of the Sarasota Fairgrounds. It was built in 1973 and includes a laundry facility and pool.
Mike Migone, a senior advisor at SVN Commercial Advisory Group, says in a press release that “this complex has consistently had an occupancy rate of 98 to 100%.”
“The new owner should have no trouble with occupancy here.”
SVN represented the buyer, Sarasota Presidential, in the transaction.
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