NOT LISTED FOR SALE

117 Palermo Cir Fort Myers Beach, FL 33931

5 Beds
4 Baths
2,167 Sq Ft
6,673 Sq Ft Lot

Last Sold July 27, 2018

Last sale price $600,000 $277 Per Sq Ft

7 Days on Market

Highlights

  • Community Beach Access
  • Boating
  • Dock made with wood
  • Fort Myers Beach Elementary School Rated A-
  • Home fronts navigable water
  • Fruit Trees

About This Home

As of July 2018

Investors DREAM location Pier District location. HUGE cash flow Potential of $70-75K++ per year. 2015-2016 Gross rentals=$65k. Gorgeous Waterfront TRIPLEX on a Canal is located walking distance to Times Square, dozens of restaurants, bars, and 100 Yards to the BEACH!!. The Main 3 bedroom floor is STUNNING with it's Open concept island kitchen, and contemporary interior design. The 2 additional units are 1 bedrooms w/ Large footprint open Living rooms. Each has access to the rear Lanai direct to the Canal. All three units combined will generate a on this weekly rental street. This is a must see and wont last long!!

Last Agent to Sell the Property

Alex King

Premiere Plus Realty Company License #BEAR-3251534 Listed on: 05/23/2018

Premiere Plus Realty Company

Last Buyer's Agent

Alex King

Premiere Plus Realty Company License #BEAR-3251534 Listed on: 05/23/2018

Premiere Plus Realty Company

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $8,403

Year Built

  • Built in 1952

Lot Details

  • 6,673 Sq Ft Lot
  • Lot Dimensions: 184
  • Home fronts navigable water
  • Home fronts a canal
  • Fenced
  • Paved or Partially Paved Lot
  • Fruit Trees

Home Design

  • Triplex
  • Wood Frame Construction
  • Shingle Roof
  • Vinyl Siding

Interior Spaces

  • 2-Story Property
  • Ceiling Fan
  • Sliding Windows

Flooring

  • Wood
  • Tile

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 4 Full Bathrooms

Outdoor Features

  • Room in yard for a pool
  • No Fixed Bridges
  • Dock made with wood
  • Deck
  • Patio

Utilities

  • Central Heating and Cooling System
  • Cooling System Mounted In Outer Wall Opening
  • Cable TV Available

Listing and Financial Details

  • Assessor Parcel Number 19-46-24-W4-0060H.0280
  • Tax Block H

Community Details

Overview

  • 3 Units
  • Venetian Gardens Condos

Recreation

  • Boating
  • Gulf Boat Access
  • Community Beach Access

Pet Policy

  • Pets Allowed

Building Details

  • Operating Expense $26,344
  • Net Operating Income $39,036

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$8,403

Year Built

Built in 1952

Lot Details

0

Listing Details

  • Legal Description: VENETIAN GARDENS BLK H PB 6 PG 70 LOT 28 + PT LOTS 26 + 29
  • Property Type: Residential Income
  • Table: Residential Income
  • Street View Param: 1$26.452387$-81.951952$50.46$13.33$1.00$orDf2MVgvxkVKfbxjw0_Dg
  • Building Design: Triplex
  • Building Description: 2 Story
  • Year Built: 1952
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Full Bathrooms: 4
  • Total Bathrooms: 4.00
  • Total Bedrooms: 5
  • Flooring: Tile, Wood
  • Windows: Sliding

Exterior Features

  • Gulf Access: Yes
  • Private Pool: No
  • Private Spa: No
  • Roof: Shingle
  • Canal Width: 81-120
  • Construction: Wood Frame
  • Gulf Access Type: No Bridge(s)/Water Direct
  • Boat Access: Wooden Dock
  • Road: County Maintained, Paved Road
  • Exterior Features: Deck, Fence, Fruit Trees, Patio, Room for Pool
  • Exterior Finish: Vinyl Siding
  • Waterfront Type: Canal, Intersecting Canal, Navigable

Utilities

  • Cable Available: Yes
  • Cooling: Ceiling Fans, Central Electric, Wall Unit
  • Heat: Central Electric
  • Sewer: Central
  • Water: Central

Association/Amenities

  • Pets: No Approval Needed
  • Development: Venetian Gardens
  • Amenities: Beach Access
  • Community Type: Boating, Non-Gated
  • Units In Building: 3

Condo/Co-op/Association

  • Sub Condo Name: VENETIAN GARDENS

Lot Info

  • Lot Back: 90
  • Lot Frontage: 184
  • Lot Left: 249
  • Lot Right: 198
  • Lot Unit: 28
  • Section: 19
  • Waterfront: Yes
  • Zoning Code: C-1
  • Acres: 0.1532
  • Lot Description: Irregular Shape
  • Lot Dimensions: 184 X 249 X 90 X 198
  • Parcel Number: 19-46-24-W4-0060H.0280

Tax Info

  • Tax Description: County Only
  • Taxes: 8403.00

Multi Family

  • Unit Count: 3
  • Gross Rental Income: 65381.00
  • Annual Expenses: 26344.00
  • Annual Net Operating Income: 39036.00
  • Total Buildings: 1

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jun 28, 2021
Sold by
Moeves Tobias John and Schaffiner Samuel L
Bought by
Kalidindi Rama Usha and Kalidindi Raju Narasimh

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$697,500
Outstanding Balance
$631,499
Interest Rate
2.9%
Mortgage Type
New Conventional

Purchase Details

Closed on
Oct 18, 2018
Sold by
Peter M Dolid
Bought by
Moeves Tobias and Moeves Kathleen

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$420,000
Interest Rate
4.85%

Purchase Details

Listed on
May 23, 2018
Closed on
Jul 25, 2018
Sold by
Dolid Peter M and Dolid Jill B
Bought by
Schaffner Samuel L and Moeves Tobias John
Seller's Agent
Alex King
Premiere Plus Realty Company
Buyer's Agent
Alex King
Premiere Plus Realty Company
List Price
$699,000
Sold Price
$600,000
Premium/Discount to List
-$99,000
-14.16%

Purchase Details

Closed on
Apr 1, 2009
Sold by
Bank Of America National Association
Bought by
Dolid Peter M and Dolid Jill B

Purchase Details

Closed on
Apr 22, 2008
Sold by
Newman Leslie
Bought by
Lasalle Bank Na and Morgan Stanley Mortgage Loan Trust 2006-
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Kalidindi Rama Usha $930,000 Sun National Title Co Llc
Moeves Tobias $600,000 --
Schaffner Samuel L $600,000 Attorney
Dolid Peter M $260,000 None Available
Lasalle Bank Na $510,800 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Kalidindi Rama Usha $697,500
Previous Owner Moeves Tobias $420,000
Previous Owner Moeves Tobias --
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/27/2018 07/27/18 Sold $600,000 -14.2% $277 / Sq Ft
06/01/2018 06/01/18 Pending -- -- --
05/25/2018 05/25/18 For Sale $699,000 -- $323 / Sq Ft
Source: Multiple Listing Service of Bonita Springs-Estero

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $9,216 $501,332 $501,332 --
2024 $6,106 $486,059 $441,872 --
2023 $6,106 $441,872 $441,872 $0
2022 $15,887 $1,078,881 $420,563 $658,318
2021 $11,320 $737,913 $417,583 $320,330
2020 $10,046 $634,694 $353,775 $280,919
2019 $9,804 $616,135 $353,775 $262,360
2018 $7,545 $499,047 $0 $0
2017 $8,403 $601,588 $293,700 $307,888
2016 $7,979 $572,340 $297,504 $274,836
2015 $6,955 $453,716 $297,286 $156,430
2014 $6,378 $409,608 $169,144 $240,464
2013 -- $368,387 $225,167 $143,220
Source: Public Records

Agents Affiliated with this Home

  • Alex King

    Seller's Agent in 2018

    Alex King

    Premiere Plus Realty Company

    (239) 849-3663

    250 in this area

    293 Total Sales

    Alex King
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Map

Source: Multiple Listing Service of Bonita Springs-Estero

MLS Number: 218037716

Multiple Listing Service of Bonita Springs-Estero

APN: 19-46-24-W4-0060H.0280

Florida Lee County Fort Myers Beach 33931

117 Palermo Cir, Fort Myers Beach, FL

This home is located at 117 Palermo Cir, Fort Myers Beach, FL 33931 since 23 May 2018. This property was built in 1952. 117 Palermo Cir is a home located in Lee County with nearby schools including Fort Myers Beach Elementary School, Cypress Lake Middle School, and Fort Myers Middle Academy.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Multiple Listing Service of Bonita Springs-Estero IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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