A4541289

516 - 7TH - #1 PALMETTO

$495,000

MLS#: A4541289 Property Type: Residential Income Address: 516 7TH #1 City / Zip: PALMETTO, FL 34221 Area: PALMETTO County: Manatee Neighborhood: WILLIS ADD TO PALMETTO Bedrooms: 4 Bathrooms: 0 Acres: 0.17 Year Built: 1906 Zoning: RM6 Date Listed: 07/27/2022 POA Fees: 0 Status: Under Contract

Agent's Comments

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.

*Listing provided courtesy of the MLS.
Interior Features
  • Air Conditioning: Wall/Window Unit(s)
  • Heating: Electric
  • Interior Features: Other
  • Water: Public
Exterior Features
  • Foundation: Slab
  • Garage: GarageSpaces : 0
  • Roof: Shingle
  • Sewer/Septic: Public Sewer
  • Style: Quadruplex
Additional Features
  • County: Manatee
  • Status Date: 2022-08-26
  • Year Built: 1906
  • Zoning: RM6
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