Listing Details for MLS #A4586511
1718 Bay Street, Sarasota, Fl

Residential Property - Single Family Residence in Sarasota

Listing Price: $4,735,000 (Mortgage Calculator →)Days on Market: 198

Description of Property

One or more photo(s) has been virtually staged. The downtown Sarasota waterfront setting doesn’t get any better. Located in a federally Qualified Opportunity Zone, the investment opportunity for this property offers significant tax benefits. This 4016 square foot, 2-story home is situated on 220’ of water frontage on a Hudson Bayou peninsula. The views from the residence on the bayou are simply breathtaking. This downtown property is just minutes away from Selby Botanical Gardens, the Marina Jack bay front, Main Street, area beaches, local barrier islands, SRQ airport and everything that Sarasota so graciously offers. And the beauty about this property is that it’s been professionally renovated both inside and out; which feels as though the home is brand new. As you approach the property from the road, you're greeted by a motorized privacy gate and once you enter the elegant motor court with silver brick pavers, you have access to a 3-car, oversized garage; with tandem parking in one of the bays. On the exterior, the residence features a standing seam metal roof, new PGT impact windows and doors, anodized shade louvers on the front elevation windows, and stone stairs that lead to the grand, glass entry doors. There’s an elevated, inground pool which isn’t obstructed with a screened cage, which adds to the outdoor natural appeal. Another highlight is a covered outdoor dining area that overlooks the sundeck and water. This area is perfect for entertaining. You’ll also discover a renovated dock with Trex engineered decking and not just one, but two boat lifts. From a boating standpoint, this located offers protected water and you’re only minutes to Sarasota Bay and the open pass out to the Gulf of Mexico. And for the youngsters, there’s even a charming little tree house with big water views that's certain to make for lasting, life-long childhood memories. Inside the home you’ll find high ceilings, floors that are clad with French Oak, 8’ interior doors, a gas fireplace, contemporary wood staircase, elegant bathrooms, a stylish kitchen with white Shaker cabinetry, quartz counter-tops and Viking appliances. The pristine residence boasts 5 bedrooms with 4 ensuite bathrooms, a dedicated office that could be outfitted as a media room, and a temperature-controlled wine storage room located inside the large garage. Every room in the house is expansive and because of all of the windows, which offer privacy views, there’s an abundance of natural light cascading into the home. The primary bedroom suite is delightfully spacious and features 2 oversized walk-in wardrobe rooms, a gorgeous spa style bathroom and access to a second story covered outdoor terrace with grand water and sunset views of Hudson Bayou. A completely renovated home, on the water, in downtown Sarasota with the zip code 34236 doesn’t become available very often, but in addition to that scarcity, because it’s located in 1 of only 4 Qualified Opportunity Zones in Sarasota, you could treat this as an investment property and with the proper hold, eliminate any capital gains tax on a future resale. Speak to your investment advisor for more information about this significant tax benefit. To tour the property, contact the listing agent or your trusted real estate professional. Please see extensive property catalog attached for full property details and photos.The average asking price for a 5 bedroom/4 bath single family residence in this Zip code is $4,217,000. This single family residence is listed at about 112% of the average asking price. This is the only 5 bedroom/4 bath single family residence between $4,200,000 and $5,400,000 currently listed for sale in this Zip code.