Three Things: For rent

Sooner or later, everybody with a little money to invest has to examine the pros and cons of rental properties. The right one can bring in a tidy income while appreciating in value. Owning several is a very Sarasota “thing.” I’m constantly amazed at how many of my friends have two or three in their portfolio. Picking the right one is crucial, though. Here’s a roundup of three of the more interesting rental properties currently on the market.

Old Florida Charm  

640 Broadway, Longboat Key

This could be a perfect “live in one, rent out the other two” situation. The main house — built in 1940 with three bedrooms, two baths, wooden floors and a fireplace — has plenty of vintage charm. The two cottages have one bedroom and one bath. The entire complex comes fully furnished in a tropical, vacation-like style. The location, in the quaint old Longbeach Village at the northern end of the Key, is very walkable, with restaurants nearby and the beach a short stroll away. Best of all is the old Florida feeling, a nice contrast from the glitz at the southern end of the Key.

Priced at $1.1 million. For more information, call Marisa Marino, of Bright Realty, at 914-5191.

Hip Downtown

1664 Cherry Lane, Sarasota

This fourplex is a type of building common all over the country — but not here in Sarasota, which adds to its rarity and charm. It has the one of the most picturesque locations in town, tucked away in an alley in the most Key West-looking part of Sarasota. The units are all studios and seem in great shape. Lots of original (1930s) features, including wooden floors, clawfoot tubs and — like the old gangster movies — there’s even a Murphy bed that folds down from the wall. Best of all is the location, right smack in the middle of downtown.

Priced at $529,000. For more information, call Cheryl Loeffler or Betsy Sublette, of Premier Sotheby’s International Realty, at 284-8483.

Beach Vacation

104 Avenida Veneccia, Siesta Key

Here’s a larger property — six units — that has a lot going for it: the one-bedroom, one-bath apartments can be rented by the day, and your vacationing tenants won’t need a car. The beach, visible from the upper balcony, is just around the corner, and the bars and restaurants of Siesta Village are a block or two away. Other pluses include a new roof, ample parking and an on-site laundry. Running it may be more work than a casual investor wants, but crunch the numbers and see if it works for you.

Priced at $1,765,000. For more information, call Amy Robinson, of Amy Robinson Real Estate, at 346-7000.