$460,000
SOLD SEP 16, 2022

516 7th Ave W Unit 1 Palmetto, FL 34221

4 Beds
4 Baths
3,072 Sq Ft
7,392 Sq Ft Lot

Recently Sold

$150 Per Sq Ft

7% Below List Price

43 Days on Market

Highlights

  • No HOA
  • Cooling System Mounted To A Wall/Window
  • 5-minute walk to Lamb Park
  • Balcony
  • Heating Available

About This Home

As of September 2022

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.

Last Agent to Sell the Property

Adam Doak

AMERICAN PROPERTY GROUP License #3271713 Listed on: 07/06/2022

Last Buyer's Agent

Manuela Martinez

INTEGRITY REAL PROPERTIES,IN License #3124297

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,596

Year Built

  • Built in 1906

Home Design

  • 3,072 Sq Ft Home
  • Quadruplex
  • Slab Foundation
  • Wood Frame Construction
  • Shingle Roof

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 4 Bathrooms

Utilities

  • Cooling System Mounted To A Wall/Window
  • Heating Available
  • Cable TV Available

Additional Features

  • Balcony
  • 7,392 Sq Ft Lot

Community Details

  • No Home Owners Association
  • 4 Units
  • Willis Community
  • Willis Add To Palmetto Subdivision

Listing and Financial Details

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,596

Year Built

Built in 1906

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Quadruplex
  • Construction Materials: Wood Frame
  • Fireplace: No
  • Living Area: 3072
  • Lot Size Acres: 0.17
  • New Construction: No
  • Year Built: 1906
  • Lot Size Sq Ft: 7392
  • Directions to Property: Located just east of 8th and South of 7th St.
  • Status: Sold
  • Street Post Direction: W
  • Down Payment Resource URL: https://www.workforce-resource.com/dpr/listing/MFRMLS/A4541289?w=Agent&skip_sso=true
  • Down Payment Resource URL 2: https://www.workforce-resource.com/dpr/listing/MFRMLS/A4541289?w=Customer
  • Unit Count: 4
  • Total Acreage: 0 to less than 1/4
  • Unit Number Y N: No
  • Ratio: Close Price\List Price: 0.92929
  • Price per Sq Ft: 149.74
  • Close to Original List Price Ratio: 0.92929
  • View: No
  • Ownership: Fee Simple
  • Tax Year: 2021
  • Special Features: VirtualTour

Interior Features

  • Living Area Units: Square Feet
  • Interior Amenities: Other
  • Foundation Details: Slab
  • Total Bedrooms: 4
  • Street Number Modifier: 516
  • Number Of Buildings: 1
  • ResoLivingAreaSource: PublicRecords

Exterior Features

  • Exterior Features: Balcony, Sidewalk
  • Roof: Shingle
  • Pool Private: No
  • Waterfront: No
  • Road Surface Type: Concrete, Paved
  • Water View Y N: No
  • Water Access Y N: No
  • Water Extras Y N: No
  • Flood Zone Panel: 12081C0164F

Garage/Parking

  • Carport Y N: No
  • Garage Yn: No
  • Open Parking: No

Utilities

  • Utilities: Cable Available, Cable Connected, Electricity Available, Electricity Connected, Public, Sewer Connected, Water Available, Water Connected
  • Cooling: Wall/Window Unit(s)
  • Heating: Electric
  • Sewer: Public Sewer
  • Water Source: Public
  • Cooling Y N: Yes
  • Heating Yn: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No

Lot Info

  • Zoning: RM6
  • Parcel Number: 2777900008
  • Additional Parcels: No
  • Flood Zone Code: X
  • Flood Zone Date: 2021-08-10
  • ResoLotSizeUnits: SquareFeet

Multi Family

  • Number Of Units Total: 4

Tax Info

  • Tax Annual Amount: 3596
  • Tax Block: 3
  • Tax Book Number: 1-133
  • Tax Lot: 2

Range of Values:

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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/27/2025 06/27/25 For Sale $560,000 0.0% $182 / Sq Ft
06/26/2025 06/26/25 Off Market $560,000 -- --
09/16/2022 09/16/22 Sold $460,000 -7.1% $150 / Sq Ft
08/19/2022 08/19/22 Pending -- -- --
07/06/2022 07/06/22 For Sale $495,000 -- $161 / Sq Ft
Source: Stellar MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • I

    Seller's Agent in 2025

    Ian Miles

    RICHARD PETERS REALTY LLC

    (774) 231-4254

    Ian Miles
    Section Image

  • A

    Seller Co-Listing Agent in 2025

    Alexander Izikson

    RICHARD PETERS REALTY LLC

    (781) 996-9676

    12 Total Sales

    Alexander Izikson
    Section Image
  • Adam Doak

    Seller's Agent in 2022

    Adam Doak

    AMERICAN PROPERTY GROUP

    (941) 923-0535

    2 in this area

    7 Total Sales

    Adam Doak
    Section Image

  • M

    Buyer's Agent in 2022

    Manuela Martinez

    INTEGRITY REAL PROPERTIES,IN

    (813) 389-3154

    1 in this area

    25 Total Sales

    Manuela Martinez
    Section Image
See All Agents

Map

Source: Stellar MLS

MLS Number: A4541289

Stellar MLS

APN: 27779.0000-8

Florida Manatee County Palmetto 34221

516 7th Ave W Unit 1, Palmetto, FL

This home is located at 516 7th Ave W Unit 1, Palmetto, FL 34221 and is currently priced at $460,000, approximately $149 per square foot. This property was built in 1906. 516 7th Ave W Unit 1 is a home located in Manatee County with nearby schools including James Tillman Elementary Magnet School, Palmetto High School, and Lincoln Memorial 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.

Stellar MLS 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.



Listing Information presented by local MLS brokerage: Ten-X - (888)-952-6393

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