PALMETTO, FL 34221 516 7TH AVENUE W #1

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Presented By: RICHARD PETERS REALTY LLC with 352-448-9712. - 352-448-9712
  • MLS# TB8401410
  • 09/02/2025
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Disclaimer: The information contained in this listing has not been verified by Homepride Group at EXP Realty and should be verified by the buyer.
  • Beds • 4
  • Baths • 4
  • SQFT • 3,072

Home Details

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.
Presented By: RICHARD PETERS REALTY LLC with 352-448-9712. - 352-448-9712

Interior Features for 516 7TH AVENUE W #1

Bedrooms

Total Bedrooms4

Bathrooms

Half Baths0
Total Baths4

Other Interior Features

LivingAreaSourcepublic records
Air Conditioning Y/NYes
Fireplace Y/NNo
Flooringtile
Heating Y/NYes
Interior Amenitiesother
Laundry Featureswasher hookup

General for 516 7TH AVENUE W #1

Additional Parcels Y/NNo
Applianceselectric water heater, refrigerator
Building Area Unitssquare feet
Carport Y/NNo
Citypalmetto
Construction Materialswood frame
Coolingwall/window unit(s)
Countymanatee
Directions509-501 7th ave w palmetto, fl 34221 head north on 7th ave w destination will be on the right 226 ft 516 7th ave w palmetto, fl 34221
Facing Directionwest
Flood Zone Codex
Flood Zone Code XY
Full Baths4
Garage Y/NNo
HOANo
Heatingelectric
Land Lease Y/NNo
Lease Considered Y/NYes
Legal Descriptionn1/2 of lot 2 blk 3 willis add pi#27779.0000/8
Levelstwo
Listing Termscash, conventional, fha
Living Area Unitssquare feet
Lot Size Square Feet7392
Lot Size Unitssquare feet
MLS Area34221 - palmetto/rubonia
Minimum Leaseno minimum
ModificationTimestamp2025-09-12t14:16:32.050z
New ConstructionNo
Occupancy Typetenant
Ownershipfee simple
Property Subtypesingle family residence
Property Typeresidential
Roofshingle
STELLAR_InLawSuiteYNNo
Senior Community Y/NNo
Sewerpublic sewer
Standard Statusactive
Statusactive
Subdivision Namewillis add to palmetto
Tax Annual Amount7285
Tax Lot2
Tax Year2024
Total Rooms7
Unit Number1
Utilitiescable available, cable connected, electricity available, electricity connected, public, sewer connected, water available, water connected
Virtual TourClick here
Water Access Y/NNo
Water View Y/NNo
Year Built1906
Zoningrm6

Exterior for 516 7TH AVENUE W #1

Building Area Total3072
Exterior Amenitiesbalcony, sidewalk
Foundation Detailsslab
Lot Size Acres0.17
Lot Size Area7392
Private PoolNo
Road Surface Typeconcrete, paved
Water Sourcepublic
Waterfront Y/NNo

Additional Details

Price History

Steven Pugh

Broker Associate | Team Leader
Price $360,000
MLS#TB8401410
List Date 09/02/2025
Property Type Single Family
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Alexander Izikson Inactive - No longer with eXp Realty

12/05/2024 Offboarding - DO NOT REACTIVATE
Price $360,000
MLS#TB8401410
List Date 09/02/2025
Property Type Single Family
Request Tour
Request Info

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