Lido Key Condo Foreclosure

I showed this condo last Saturday to some out of town buyers. The condo has not been taken back by the bank yet but it looks like it will. It was purchased in May of 2005 for $435,600 and is now listed for $285,000. Embassy Villas is a cute complex only a few blocks from Lido Key beach. This would be a great winter or weekend getaway. The unit is not in fabulous shape but a coat of paint, a deep cleaning, good decorating and some nice furniture and this place would be spectacular. It is a 2 bedroom, 2 bathroom town house with 1,090 square feet.

Sarasota MLS Property Description:

BEST PRICED 2BR, 2 BTH ON LIDO KEY ….  BANK APPROVES SHORT SALE AT $281,000.  Great investment opportunity with short term rental allowed (2 week minimum x 26 times a year).  Updated 2 bedroom plus 2 bath end unit villa with vaulted ceilings and wood cabinets.   Renters love being only 2 blocks to Lido Beach. This home is approximately half mile to St. Armand’s Circle where one can enjoy a variety of restaurants, fabulous shops and all that St. Armand’s is famous for. A short drive will take you downtown Sarasota for symphony, theater, musuems, Whole Foods, libraries, Selby Gardens, more restaurants, GWIZ, Van Wezel, etc. If you are doing a 1031 exchange or just want to make an investment, you must consider this unit! Offered “As-Is” with right to inspect. Bank may take 6 – 8 weeks for approval.

View my Lido Key condo page to see everything for sale on the island. If I can help you buy a condo on Lido Key give me a call at 941-.812.6272.

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If I can help you with a purchase or sale in Sarasota give me a call at 941.812.6272.

Lido Key Condo Market Update

Condos currently for sale – 122

Highest asking price – $4,495,000

Lowest asking price – $219,000

Average asking price – $1,184,020

Median asking price – $692,500

Condos under contract – 4

# of condos sold in February 2009 – 1

Sales price – $237,500

# of condos sold in February 2008 – 2