516 7th Avenue W #1, Palmetto, FL 34221

Local realty services provided by:ERA Advantage Realty, Inc.
516 7th Avenue W #1,Palmetto, FL 34221
$360,000
Virtual Tour
  • 4 Beds
  • 4 Baths
  • 3,072 sq. ft.
  • Single family
  • Pending
Listed by: ian miles, alexander izikson
Office: richard peters realty llc.
MLS#:TB8401410
Source:MFRMLS

Price summary

  • Price:$360,000
  • Price per sq. ft.:$117.19

About this home

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

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Home facts

  • Year built:1906
  • Listing ID #:TB8401410
  • Added:147 day(s) ago
  • Updated:November 21, 2025 at 08:57 AM

Rooms and interior

  • Bedrooms:4
  • Total bathrooms:4
  • Full bathrooms:4
  • Living area:3,072 sq. ft.

Heating and cooling

  • Cooling:Wall/Window Unit(s)
  • Heating:Electric

Structure and exterior

  • Roof:Shingle
  • Year built:1906
  • Building area:3,072 sq. ft.
  • Lot area:0.17 Acres

Utilities

  • Water:Public, Water Available, Water Connected
  • Sewer:Public, Public Sewer, Sewer Connected

Finances and disclosures

  • Price:$360,000
  • Price per sq. ft.:$117.19
  • Tax amount:$7,285 (2024)
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