Property Overview
Price/Rent PSF $ 2,575,000.00
Asset Type Multifamily
Trade Type Sale
SQ. FT. Available 9,808
Date Available 08/19/2019
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Floors 3
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Description

Location
Tamiami Tr. to Montgomery Ave., east on Montgomery Ave. to Willow St. The property is on the NW corner of Montgomery Ave. and Willow St. opposite the entrance to Sara Bay Country Club.

Sale
The Villa Serena Inn was originally built in 1926 and designed by Architect Clare Hosmer for Clarke Douglas Williams, a New York stockbroker. Once called the "Italian palace" the Inn featured some of the most elaborate furnishings in Florida from the era and is Sarasota's only remaining original Inn from the "Roaring Twenties".

The 1.16 acres features 12 residential apartments (4 transient suites, 8 non-transient suites) set in beautiful Banyans, Oaks and Palm trees which provide a park-like setting with various fountains and statuary. In addition to the residential units the property also has a roughly 1,000/SF catering hall making the Inn Ideally suited for weddings, private parties and other special functions creating additional income. The entire property has recently been revamped with over $1,500,000 in renovations. This property is teed up for an owner/operator to take over and enjoy running.

A step into the foyer leads to the stairwell and ground floor apartments, the building reflects a glorious tradition and past. Today, each of its quaint apartments provide a fully equipped galley kitchen, most with a cozy breakfast nook, well-appointed Sitting Room with traditional oak floors. Italian sheer curtained windows provide an abundance of natural daylight.

Villa neighbors include the Sara Bay Country Club, the John and Mable Ringling Museum of Art, New College, the University of South Florida, Ringling School of Art and Design, the Asolo Theater and the SRQ Airport.

The Villa Serena Inn's claim to fame is all of the sports celebrities who have stayed here over the years. The Penthouse hosted such American legends as Baseball Great Babe Ruth and Champion golfer Bobby Jones. Now, almost a century later, the Villa Serena Inn continues the tradition of providing gracious hospitality and quiet refinement for its clientele.

The Seller will consider owner financing.

Location