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602 Harvard St
Englewood, FL 34223 Venice/Englewood

$1,650,000 USD

Apartments For Sale  •  4,860 SF

Property Details

  • Property Type Apartments
  • Total Building Size 5,650 SF
  • Lot Size 0.87 AC
  • Building Class C
  • Year Built 1973
  • Zoning RSF3
30 Walk Score

Highlights

9% Rent Upside Confirmed by Market – The 2 most recent arm's-length leases executed at $1,500 per month, with several long-term residents below market
Exceptional Tenant Quality & Retention – 4 of 10 residents in-place since 2021 or earlier with consistent payment history and minimal unit wear
No Near-Term Capital Needs – New on-site well installed in 2025 reducing utility costs to ownership, all 10 HVACs professionally serviced recently
Fully Furnished, Move-In Ready Units – All 10 units fully furnished and turnkey, ideally suited for the retirement and seasonal renter base
Multiple Value-Add Revenue Levers – A $75/month utility reimbursement program generates an additional $4,500 in Year 1 and $8,100 by Year 2
Taxes and insurance adjusted 20% annual return after debt and initial cash-on-cash of 6%

Amenities

  • Air Conditioning
  • Courtyard
  • Laundry Facilities
  • Microwave
  • Picnic Area
  • Tenant Controlled HVAC
  • Washer/Dryer
  • Cabana
  • Furnished Units Available
  • Laundry Service
  • Trash Pickup - Curbside
  • Ceiling Fans
  • Tile Floors
  • Kitchen
  • Refrigerator
  • Tub/Shower
  • Sunroom
  • Wi-Fi
  • Storage Space
  • Zen Garden
  • Dining Room
  • Garden
  • Lawn
  • Linen Closet
  • Patio
  • Porch
  • Private Bathroom

Public Transportation

AirportDriveWalkDistance
Punta Gorda 53 min - 31.2 mi
Sarasota/Bradenton International 57 min - 39.8 mi

Parking Details

Parking Available: Yes
Reserved: No
Type: Surface
Included in Rent: Yes
Colton Williams 941-363-1623 Colliers
Colton Williams 941-363-1623 Colliers