$460,000
$495,000
7.1%For more information regarding the value of a property, please contact us for a free consultation.
516 7TH AVE W #1 Palmetto, FL 34221
4 Beds
4 Baths
3,072 SqFt
Key Details
Sold Price $460,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Square Footage 3,072 sqft
Price per Sqft $149
Subdivision Willis Add To Palmetto
MLS Listing ID A4541289
Sold Date 09/16/22
Bedrooms 4
HOA Y/N No
Year Built 1906
Annual Tax Amount $3,596
Lot Size 7,405 Sqft
Acres 0.17
Property Sub-Type Quadruplex
Source Stellar MLS
Property Description
Now available and located in the center of the City of Palmetto. Amazing location within walking and biking distance to restaurants, shopping, marinas, and other events! This 4 plex includes 4 one bedrooms that have always been leased. Each unit is under rented and should be increased immediately. All tenants are on Month to Month. Each unit has a kitchen, living room, private restroom and a community balcony with ceiling fans. Large parking area with a backyard. This one will move fast!
Current MTM Tenants are paying $650.00 (units 1-3) and $875.00 (unit 4)
Market Rents for comparable 1 bedroom apartments are $1,000 a month or more. Some simple updates would bring in much more.
Pro Forma gross income with market rents = $48,000 a year.
*4 Electric Meters, One Water Meter, Roof +/- 11 years old, Windows facing the south side replaced +/- 5 years ago.
Location
State FL
County Manatee
Community Willis Add To Palmetto
Area 34221 - Palmetto/Rubonia
Zoning RM6
Direction W
Interior
Interior Features Other
Heating Electric
Cooling Wall/Window Unit(s)
Fireplace false
Exterior
Exterior Feature Balcony, Sidewalk
Utilities Available Cable Available, Cable Connected, Electricity Available, Electricity Connected, Public, Sewer Connected, Water Available, Water Connected
Roof Type Shingle
Garage false
Private Pool No
Building
Foundation Slab
Lot Size Range 0 to less than 1/4
Sewer Public Sewer
Water Public
Structure Type Wood Frame
New Construction false
Others
Senior Community No
Ownership Fee Simple
Special Listing Condition None
Read Less
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
© 2025 My Florida Regional MLS DBA Stellar MLS. All Rights Reserved.
Bought with INTEGRITY REAL PROPERTIES,IN