Residential Property - Single Family Residence in Palmetto
Listing Price: $478,000
Description of Property
Rare cash-flowing 4-plex in the heart of Palmetto, fully leased month-to-month with huge value-add upside. Just a few blocks from the water and nestled in a walkable, bikeable pocket of Palmetto near marinas, shops, restaurants, and downtown events, this property is perfectly positioned for long-term growth and steady returns. So what makes this one so special? 1) Four separate 1 bed / 1 bath units, each with a full kitchen, living room, private bathroom, and access to a shared breezy front balcony with ceiling fans. 2) Large parking area and rear yard for added tenant convenience. 3) All tenants are on under-market month-to-month leases, providing flexibility for future adjustments or improvements as needed. 4) Separate electric meters for each unit, with one shared water meter to streamlined billing. 5) Southern-facing windows were replaced ~7 years ago. 6) Lowest price/sq ft for a quadplex in the area. Investor notes: LTR: 4,100/mo current on month-to-month leases. Market comps support 1,300 - 1,400/mo each unit, for a potential gross of 5,200-5,600/mo without major updates. Very little nearby competition for quality 1-bedroom rentals. High demand area with walkability, steady tenant base, and long-term appreciation potential. Whether you’re a local investor looking to boost cash flow or a 1031 buyer seeking a low-hassle asset in a prime Florida location, this one checks all the boxes. Easy to show. No HOA/CDD. Feel free to soft pitch before writing anything up. Ask me anything, big or small. If this is “NOT ON MY MLS,” disclosures and MLS info sheets are available. No assignable contracts accepted.
Property Details At A Glance
Property Type: Residential
Property Use or Sub Type: Single Family Residence
City: Palmetto
County: Manatee
Subdivision: Willis Add To Palmetto
Bedrooms: 4
Bathrooms: 4
Sq. Ft. Gross: 3,072
Sq. Ft. Living Area: 3,072
Cost per (heated) sqare foot: $156
Year built: 1906
Annual Tax: $7,285
Taxes and fees can change periodically, and other fees may apply. Please check with your Suncoasteam agent for more details.
Appliances: Refrigerator
Flooring: Tile
Pool & Waterfront Info
Private Pool: Not specified
Exterior & Construction
Construction: Wood Frame
Foundation: Slab
Roof: Shingle
Exterior Features: Sidewalk
Floors in Unit: Two
Cooling: Wall/Window Unit(s)
Heating & Fuel: Electric
Electric:
Patio & Porch Features:
Security Features:
Other Structures:
View:
Fencing:
Sewer: Public Sewer
Water Source: Public
Lot Information
Lot Size (acres): 0.17
Lot Size (sq. ft.): 7,392 square feet
Front Exposure: West
Legal Description & Other Information
Financing Available: FHA
Parcel Number: 2777900008
Zoning: RM6
Tax Legal Desc.: N1/2 OF LOT 2 BLK 3 WILLIS ADD PI#27779.0000/8
Section: 14
Range: 17
Listing courtesy of RICHARD PETERS REALTY LLC. The information relating to real estate for sale on this website comes in part from the My Florida Regional MLS DBA Stellar MLS. This information is provided exclusively for consumers' personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed accurate by the MLS.