1335 40th St Sarasota, FL 34234

Under contract-accepting backup offers. Once-in-a-generation opportunity to own one of Sarasota's most unique and versatile properties. Set on a lush, private acre within city limits, this rare multi-unit compound blends income potential, lifestyle flexibility, and future development upside in a way that's nearly impossible to find. At the heart of the property is a charming, retreat-like main residence offering over 2,000 sq ft of living space, surrounded by mature tropical landscaping and anchored by majestic grandfather oaks. Attached is a private mother-in-law suite with its own entrance, while the two additional one-bedroom units provide immediate, reliable rental income. Whether you're an owner-occupant, investor, or visionary builder, the possibilities here are exceptional:     "¢Â    Live in the main home while generating income from multiple units     "¢Â    Operate as a high-performing Airbnb or long-term rental property     "¢Â    Create a private family compound or wellness retreat     "¢Â    Expand and develop on included buildable lots The property has demonstrated income potential in the $70K-$90K+ range, depending on rental strategy. Beyond the structures, the land itself is a standout feature-offering a vibrant, almost jungle-like setting with a diverse collection of mature fruit trees including multiple varieties of mango, avocado, banana, lychee, loquat, and more. Outdoor living is elevated with a tranquil screened-in patio, multiple decks, outdoor spa-like shower and tub, and two large multi-use outbuildings. The larger structure offers incredible flexibility-ideal for a yoga studio, art space, workshop, or additional storage. Key Highlights:     "¢Â    Multi-unit income property (triplex configuration)     "¢Â    No HOA     "¢Â    All units currently leased with reliable tenants     "¢Â    Two additional buildable lots included in the sale     "¢Â    Ample parking and flexible layout options     "¢Â    Updated interiors with modern kitchens, bathrooms, and tile flooring Located just minutes from Downtown Sarasota, St. Armands Circle, Lido Key, and SRQ Airport, this property combines privacy and convenience in one compelling package. Opportunities like this are rare-this is more than a property, it's a platform for lifestyle, income, and long-term upside.