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516 7TH AVENUE W UNIT 1

Multi-family Recently Sold
$460,000

BTC: 7.66666667

ETH: 263.45933562

Sold on: 2022-09-16
44 days
4 bds
3,072 sqft

Overview

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

Florida • PALMETTO • 34221 • Multi-family • Recently Sold

Details

Type:
Residential Income
Parking:
No Data
Year Built:
1906
Lot:
0.17 Acres
Heating:
Electric
Price/sqft:
$161
Cooling:
Wall/Window Unit(s)
HOA:
No Data

Highlights

Annual tax
$3,596
2021
All facts and features

  • Heating

    • Electric

    Cooling

    • Wall/Window Unit(s)

    Other interior features

    • Other

    Bedrooms and bathrooms

    • Bedrooms: 4

  • Property

    • Exterior Features: Balcony / Sidewalk

    Lot

    • Lot: 0.17 Acres

    Other Property Information

    • Parcel Number: 2777900008

    • Zoning: RM6

  • Type and style

    • Property Type: Residential Income

    • Property Sub Type: Quadruplex

  • Utility

    • Cable Available

    • Cable Connected

    • Electricity Available

    • Electricity Connected

    • Public

    • Sewer Connected

    • Water Available

    • Water Connected

  • Other financial information

    • Annual tax amount: $3,596

  • Source details

    • MLS ID: A4541289

    Other facts

    • Construction Materials: Wood Frame

    • Foundation Details: Slab

    • Living Area: 3072

    • Water Source: Public

    • Subdivision Name: WILLIS ADD TO PALMETTO

Private inquiry
Talk to the advisor on this listing.
Floor plans, HOA docs, off-market comparables, scheduling a private showing — one message, direct to the local specialist.

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Market around this address

Live counts in the same area.
View all
This zip
34221
588
median $389K
Active
Same city
PALMETTO
715
median $419K
Active
Same type
Multi-family
—
Active
Similar price
$346K – $643K
284
median $425K
Active

The multiple listing information is provided by the Stellar MLS from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2026-present Stellar MLS. All Rights Reserved. The information provided is for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Listing courtesy of: AMERICAN PROPERTY GROUP