516 7th Avenue UNIT #1 Palmetto Florida | Home for Sale
To schedule a showing of 516 7th Avenue UNIT #1, Palmetto, Florida, Call David Shippey at 863-521-4517 TODAY!
Palmetto, FL 34221
- 4Beds
- 4.00Total Baths
- 4 Full, 0 HalfBaths
- 3,072SqFt
- 1906Year Built
- 0.17Acres
- MLS# TB8401410
- Residential
- SingleFamilyResidence
- Active
- Approx Time on Market27 days
- Area34221 - Palmetto/rubonia
- CountyManatee
- Subdivision Willis Add To Palmetto
Overview
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 youre 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.
Agriculture / Farm
Association Fees / Info
Community Features: Sidewalks
Senior Community: No
Association: ,No,
Bathroom Info
Total Baths: 4.00
Fullbaths: 4
Building Info
Roof: Shingle
Building Area Source: PublicRecords
Buyer Compensation
Exterior Features
Patio: Balcony
Pool Private: No
Exterior Features: Balcony
Fees / Restrictions
Financial
Original Price: $560,000
Garage / Parking
Open Parking: No
Attached Garage: No
Garage: No
Carport: No
Green / Env Info
Interior Features
Fireplace: No
Floors: Tile
Levels: Two
Spa: No
Laundry Features: WasherHookup
Interior Features: Other
Appliances: ElectricWaterHeater, Refrigerator
Lot Info
Direction Remarks: 509-501 7th Ave WPalmetto, FL 34221Head north on 7th Ave WDestination will be on the right226 ft516 7th Ave WPalmetto, FL 34221
Lot Size Units: Acres
Lot Size Acres: 0.17
Lot Sqft: 7,392
Misc
Other
Special Conditions: None
Other Rooms Info
Property Info
Section: 14
Class Type: SingleFamilyResidence
Property Sub Type: SingleFamilyResidence
Property Attached: No
New Construction: No
Construction Materials: WoodFrame
Stories: 2
Foundation: Slab
Human Modified: Yes
Room Info
Total Rooms: 7
Sqft Info
Sqft: 3,072
Bulding Area Sqft: 3,072
Living Area Units: SquareFeet
Living Area Source: PublicRecords
Tax Info
Tax Year: 2,024
Tax Lot: 2
Tax Legal Description: N1/2 OF LOT 2 BLK 3 WILLIS ADD PI#27779.0000/8
Tax Block: 3
Tax Annual Amount: 7285
Tax Book Number: 1-133
Unit Info
Unit: 1
Utilities / Hvac
Heating: Electric
Water Source: Public
Sewer: PublicSewer
Cool System: WallWindowUnits
Cooling: Yes
Heating: Yes
Utilities: CableAvailable, CableConnected, ElectricityAvailable, ElectricityConnected, MunicipalUtilities, SewerConnected, WaterAvailable, WaterConnected
Waterfront / Water
Waterfront: No
View: No
Directions
509-501 7th Ave WPalmetto, FL 34221Head north on 7th Ave WDestination will be on the right226 ft516 7th Ave WPalmetto, FL 34221This listing courtesy of Richard Peters Realty Llc
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MLS IDX data last updated on 07-24-2025 7:25 PM EST.
If you have any questions on 516 7th Avenue UNIT #1, Palmetto, Florida, please call David Shippey at 863-521-4517.
MLS# TB8401410 located at 516 7th Avenue UNIT #1, Palmetto, Florida is brought to you by David Shippey REALTOR®
516 7th Avenue UNIT #1, Palmetto, Florida has 4 Beds, 4 Full Bath, and 0 Half Bath.
The MLS Number for 516 7th Avenue UNIT #1, Palmetto, Florida is TB8401410.
The price for 516 7th Avenue UNIT #1, Palmetto, Florida is $489,000.
The status of 516 7th Avenue UNIT #1, Palmetto, Florida is Active.
The subdivision of 516 7th Avenue UNIT #1, Palmetto, Florida is Willis Add To Palmetto.
The home located at 516 7th Avenue UNIT #1, Palmetto, Florida was built in 2025.
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