Sarasota real estate investor buys 16-unit apartment

BUYER: 2802 Maiden Lane LLC (principal: Frank Cassata), Sarasota
SELLER: William Parfenchuk as successor trustee of the Joan Gardyasz Living Trust
PROPERTY: 2802 Maiden Lane, Sarasota
PRICE: $1.08 million
PREVIOUS PRICE: $390,000, August 1999
LAW FIRM ON DEED: Icard Merrill Cullis Timm Furen & Ginsburg PA, Bradenton

PLANS, DESCRIPTION: Sarasota real estate investor Frank Cassata purchased an unnamed 16-unit apartment complex east of Swift Road for $1.08 million.

The price equated to $67,188 per unit.

Located south of Bee Ridge Road, the property houses three two-story buildings. The apartment complex features 12 units with two bedrooms and one bathroom and four units with one bedroom and one bathroom. The property was 100% occupied at the time of the sale.

Joe Boguszewski of Coldwell Banker Residential Real Estate handled the sale.

“The property came with land for additional units,” he says. “The biggest selling points were its location and the spacious units. It features 1,100-square-foot one-bedroom units.”