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
Listings provided courtesy of the MLS.
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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.