Six-unit Longboat property under contract for $1.5 million

One of the oldest remaining buildings on Longboat Key has an offer for $1.5 million. 

The six-unit, multifamily building on a corner lot at 551 Broadway St. received an offer within its first few days on the market. The sale also includes two adjacent vacant lots at 7009 and 7017 Longboat Drive that provide access to Longboat Pass. 

The property, completed in 1946, includes five efficiencies and an additional one-bedroom unit. 

The building covers 3,262 square feet of space on 0.14 acres. The total sale covers 0.43 acres when the other two parcels on Longboat Drive are included. 

The intended buyer plans to renovate the units, said Premier Sotheby's agent Judie Berger, who listed the property. Adrienne Lerfald of Bradenton is the seller. 

Located feet from Longboat's beaches, the vintage, limestone building would make a perfect long-term rental opportunity once restored, Berger said. There is no recent rental history for the property. 

Part of the historic village on the north end of the island, the parcel at 551 Broadway St. is next door to the new home of the Whitey Cottages. Town historians are working to convert the buildings into a museum and public meeting space.