84-unit complex sold for nearly $12 million

SARASOTA — A Sarasota apartment complex on Fruitville Road has sold for $11.6 million.

Presidential Apartments, a 84-unit, two story community, sits on 4.7 acres just west of the Sarasota Fairgrounds. It was built in 1973 and includes a laundry facility and pool.

Mike Migone, a senior advisor at SVN Commercial Advisory Group, says in a press release that “this complex has consistently had an occupancy rate of 98 to 100%.”

“The new owner should have no trouble with occupancy here.”

SVN represented the buyer, Sarasota Presidential, in the transaction.