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$949,000
14 Days On Site

1335 40TH STREET
SARASOTA, FL 34234

For Sale|Single Family Residence|Active
6
Beds
6
Total Baths
6
Full Baths
4,188
SqFt
$227
/SqFt
1930
Built
Subdivision:
PALM GROVE
County:
Sarasota
Call Now: (561) 935-3331
Is this the listing for you? We can help make it yours.
(561) 935-3331
1335 40TH STREET1335 40TH STREET1335 40TH STREET1335 40TH STREET
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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:     •    Live in the main home while generating income from multiple units     •    Operate as a high-performing Airbnb or long-term rental property     •    Create a private family compound or wellness retreat     •    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:     •    Multi-unit income property (triplex configuration)     •    No HOA     •    All units currently leased with reliable tenants     •    Two additional buildable lots included in the sale     •    Ample parking and flexible layout options     •    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.

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Listing Snapshot
Price 
$949,000
Days On Site 
14 Days
Bedrooms 
6
Inside Area (SqFt) 
4,188 sqft
Total Baths 
6
Full Baths 
6
Partial Baths 
N/A
Lot Size 
0.59 Acres
Year Built 
1930
MLS® Number 
A4688091
Status 
Active
Property Tax 
$4,473
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
Estimated
Friends & Family
Recent Activity
4 days agoListing updated with changes from the MLS®
2 weeks agoListing first seen on site
General Features
Acres 
0.59
Direction Faces 
South
Foundation 
Slab
Levels 
Multi/Split
Property Sub Type 
Single Family Residence
Sewer 
Public Sewer
SqFt Total 
4555
Style 
Other
Utilities 
Cable AvailableCable ConnectedElectricity ConnectedSewer ConnectedWater Connected
Water Source 
Public
Zoning 
RSF3
Interior Features
Appliances 
CooktopDishwasherDisposalDryerElectric Water HeaterMicrowaveOtherRangeRefrigeratorWasher
Cooling 
Central Air
Fireplace 
Yes
Fireplace Features 
Family Room
Flooring 
OtherTile
Furnished 
Negotiable
Heating 
Electric
Interior 
Eat-in Kitchen
Laundry Features 
Common AreaLaundry Room
Window Features 
Window CoveringsWindow Treatments
Kitchen 
Dimensions - 12x9Level - First
Living Room 
Dimensions - 20x18Level - First
Master Bedroom 
Dimensions - 15x12Level - First
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Exterior Features
Construction Details 
Block
Exterior 
Outdoor ShowerStorage
Lot Features 
LandscapedPaved
Other Structures 
Guest HouseShed(s)Storage
Patio And Porch 
CoveredDeckOtherScreenedSide Porch
Roof 
MembraneOtherShingle
View 
Trees/Woods
Waterview 
Trees/Woods
Windows/Doors 
Window CoveringsWindow Treatments
Community Features
Financing Terms Available 
Cash
MLS Area 
34234 - Sarasota
Roads 
Asphalt
Township 
36
Schools
School District
Unknown
Elementary School
Tuttle Elementary
Middle School
Booker Middle
High School
Booker High
Listing courtesy of PREFERRED SHORE LLC (941) 809-9200



Listing information is provided by Participants of the Stellar MLS. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Properties displayed may be listed or sold by various participants in the MLS Copyright 2026, Stellar MLS.
Last checked: 2026-05-01 06:54 AM EDT

Neighborhood & Commute
Source: Walkscore
Disclosure: Community information and market data powered by Constellation Data Labs. Information is deemed reliable but not guaranteed.
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