Seller's Agent in 2024
Melissa Godio
SHOWTIME REALTY
(941) 822-0890
2 in this area
14 Total Sales
2111 Palm Terrace Sarasota, FL 34231
South Sarasota NeighborhoodEstimated Value: $737,000 - $896,262
6
Beds
4
Baths
2,068
Sq Ft
$408/Sq Ft
Est. Value
Highlights
- No HOA
- Fireplace
- Laundry closet
- Phillippi Shores Elementary School Rated A
- Patio
- Tile Flooring
About This Home
As of August 2024PRICE IMPROVEMENT! SELLER MOTIVATED! RARE 4plex investment opportunity in the heart of Sarasota, 6% cap rate, with potential for further income growth!! ! This well-maintained fully rented 4-plex is ideally situated in a the heart of Sarasota on a quiet dead-end street, within one of the best school districts in the area. The units boast modern updates with new kitchens, new flooring, open floor plans, and plenty of natural light. This property offers unparalleled convenience, with Trader Joe’s and Publix within walking distance and the stunning Siesta Key beaches just a 10-minute drive away. Tenants are already in place in all 4 units, ensuring a stable income stream. The expansive lot offers ample backyard space with a privacy fence. Thoughtfully designed driveway and parking area accommodate all units. Key updates included a new metal roof installed 2021 and roof clipping was completed in May 2022, significantly lowering insurance costs. Units A and B received new central A/C systems in 2020-2021, Unit C had a window unit installed in 2021 and Unit D a window unit installed in 2023. All units have been completely remodeled with new kitchens with new cabinets, granite countertops, subway tile backsplash, stunning fixtures and matching appliances. Units A & B boast LVP flooring and units C and D had tile floors, all installed between 2022 and 2023. Additional improvements include a new electrical panel and breakers in April 2022. On-site laundry facilities are currently operated by a third party, presenting an opportunity for additional revenue if switched to owner-operated machines. A termite bond is in place, providing extra peace of mind. With strong rental demand, excellent income potential, and significant recent updates, this 4-plex is an outstanding addition to any real estate portfolio. Don’t miss out on this rare chance to own a valuable piece of Sarasota real estate! Please do not disturb tenants. Ask about special financing options.
Last Agent to Sell the Property
SHOWTIME REALTY Brokerage Phone: 941-822-0890 License #3525696 Listed on: 06/12/2024
Last Buyer's Agent
SHOWTIME REALTY Brokerage Phone: 941-822-0890 License #3525696 Listed on: 06/12/2024
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $7,774
Year Built
- Built in 1950
Lot Details
- 9,864 Sq Ft Lot
- Lot Dimensions are 79 x 124
- Fenced
- Landscaped
- Level Lot
Home Design
- Quadruplex
- Slab Foundation
- Metal Roof
- Block Exterior
Interior Spaces
- 2,068 Sq Ft Home
- Ceiling Fan
- Fireplace
- Range
Flooring
- Tile
- Luxury Vinyl Tile
Bedrooms and Bathrooms
- 6 Bedrooms
- 4 Bathrooms
Laundry
- Laundry closet
- Dryer
- Washer
Parking
- Driveway
- Open Parking
- Off-Street Parking
Outdoor Features
- Patio
Schools
- Phillippi Shores Elementary School
- Brookside Middle School
- Riverview High School
Utilities
- Central Heating and Cooling System
- Cooling System Mounted To A Wall/Window
- Heating System Mounted To A Wall or Window
- Thermostat
Listing and Financial Details
- Visit Down Payment Resource Website
- Tenant pays for electricity, water
- Legal Lot and Block 10 / A
- Assessor Parcel Number 0075040058
Community Details
Overview
- No Home Owners Association
- 2,348 Sq Ft Building
- Harbor Oaks Community
- Harbor Oaks Subdivision
Amenities
- Laundry Facilities
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Nov 15, 2024
Sold by
Bought by
Current Estimated Value
Purchase Details
Listed on
Jun 12, 2024
Closed on
Jul 30, 2024
Sold by
Bought by
Seller's Agent
Melissa Godio
SHOWTIME REALTY
Buyer's Agent
Melissa Godio
SHOWTIME REALTY
List Price
$1,150,000
Sold Price
$1,000,000
Premium/Discount to List
-$150,000
-13.04%
Views
16
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-8.35%
Original Mortgage
$750,000
Interest Rate
0.0687%
Mortgage Type
New Conventional
Purchase Details
Listed on
Apr 7, 2022
Closed on
May 4, 2022
Sold by
Bought by
Seller's Agent
Gabriel Reed
BRIGHT REALTY
Buyer's Agent
Melissa Godio
SHOWTIME REALTY
List Price
$799,997
Sold Price
$850,000
Premium/Discount to List
$50,003
6.25%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.52%
Original Mortgage
$637,500
Interest Rate
0.0537%
Mortgage Type
New Conventional
Purchase Details
Closed on
Sep 1, 2020
Sold by
Bought by
Purchase Details
Closed on
Jan 1, 2017
Sold by
Bought by
Purchase Details
Closed on
Oct 25, 1996
Sold by
Bought by
Purchase Details
Closed on
Oct 17, 1996
Sold by
Bought by
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Home Values in the Area
Average Home Value in this Area
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| $100 | None Listed On Document | ||
| $1,000,000 | None Listed On Document | ||
| $850,000 | Clear Title Group | ||
| $190,000 | None Listed On Document | ||
| $64,862 | None Available | ||
| $80,000 | -- | ||
| -- | -- |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | $750,000 | ||
| Previous Owner | $637,500 | ||
| Previous Owner | $80,000 |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 08/02/2024 08/02/24 | Sold | $1,000,000 | -4.8% | $484 / Sq Ft | |
| 07/14/2024 07/14/24 | Pending | -- | -- | -- | |
| 06/21/2024 06/21/24 | Price Changed | $1,050,000 | -8.7% | $508 / Sq Ft | |
| 06/12/2024 06/12/24 | For Sale | $1,150,000 | +35.3% | $556 / Sq Ft | |
| 05/06/2022 05/06/22 | Sold | $850,000 | -5.6% | $387 / Sq Ft | View Prior Sale |
| 04/28/2022 04/28/22 | Pending | -- | -- | -- | |
| 04/08/2022 04/08/22 | Price Changed | $899,997 | -10.0% | $410 / Sq Ft | |
| 04/08/2022 04/08/22 | Price Changed | $999,997 | +25.0% | $455 / Sq Ft | |
| 04/07/2022 04/07/22 | For Sale | $799,997 | -- | $364 / Sq Ft |
Source: Stellar MLS
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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 | $8,497 | $578,200 | $161,300 | $416,900 |
| 2024 | $8,098 | $564,900 | $173,100 | $391,800 |
| 2023 | $8,098 | $541,900 | $188,500 | $353,400 |
| 2022 | $4,433 | $249,500 | $145,000 | $104,500 |
| 2021 | $4,045 | $184,500 | $98,500 | $86,000 |
| 2020 | $3,969 | $180,000 | $74,200 | $105,800 |
| 2019 | $3,415 | $146,300 | $81,700 | $64,600 |
| 2018 | $3,373 | $162,800 | $81,700 | $81,100 |
| 2017 | $3,210 | $124,331 | $0 | $0 |
| 2016 | $3,031 | $139,400 | $63,400 | $76,000 |
| 2015 | $3,018 | $138,800 | $57,400 | $81,400 |
| 2014 | $2,755 | $84,920 | $0 | $0 |
Source: Public Records
Agents Affiliated with this Home
-
Melissa Godio
-
Kimberly Bailey
K
Buyer Co-Listing Agent in 2024
Kimberly Bailey
ONE WORLD REALTY OF SARASOTA
(941) 373-5532
1 in this area
11 Total Sales
-
Gabriel Reed
G
Seller's Agent in 2022
Gabriel Reed
BRIGHT REALTY
(941) 677-5060
1 in this area
64 Total Sales
Map
Source: Stellar MLS
MLS Number: A4613502
APN: 0075-04-0058
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All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. 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.
Listings courtesy of Stellar MLS as distributed by MLS GRID.
Based on information submitted to the MLS GRID
Listing Information presented by local MLS brokerage: Ten-X - (888)-952-6393
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