NOT LISTED FOR SALE

5530 Palmetto St Fort Myers Beach, FL 33931

5 Beds
5 Baths
-- Sq Ft
5,619 Sq Ft Lot

Last Sold February 15, 2022

Last sale price $1,600,000

Highlights

  • Community Beach Access
  • Above Ground Pool
  • Storage
  • Fort Myers Beach Elementary School Rated A-
  • Patio
  • Tile Flooring

About This Home

As of February 2022

MONEY MAKING, MULTI UNIT, 5 BED /5 BATH WEEKLY RENTAL ZONE POOL HOME! The property is perfectly located with less than a 3 minute walk to the Gulf of Mexico’s sugar sand beach via access #16! Upgraded and fresh turnkey multi-unit with two - 2BR/2Bath units and one - 1BR/1Bath unit. All THREE units are registered as short term vacation rentals with Town of Ft. Myers Beach! Each unit has a pullout for adding at least 2 "heads-on-beds" per unit! Palmetto Street is located in a quiet and popular vacation neighborhood. There is a washer and dryer for each unit. Each unit has its own private screen porch as well. The yard is enclosed with a privacy fence. Exceptionally large parking area for at least 8 cars. YTD bookings as of 9/30/2021 are at $120K. Total projected gross income for 2021 is $160K+ gross revenue! Bookings are already scheduled for 2022! CAP rate at approximately 7%. This is an easy "Plug-and-Play" positive cash flow investor opportunity. The perfect getaway location that your guests will enjoy – a true 5 Star review champion!

Last Agent to Sell the Property

Alex King

Premiere Plus Realty Company License #BEAR-3251534 Listed on: 12/20/2021

Premiere Plus Realty Company

Last Buyer's Agent

Brian Falke

Barclays Real Estate Group 1

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $6,317

Year Built

  • Built in 1974

Lot Details

  • 5,619 Sq Ft Lot
  • Lot Dimensions: 45
  • Fenced
  • Property is zoned TFC2

Home Design

  • Stilt Home
  • Split Level Home
  • Wood Frame Construction
  • Metal Roof
  • Vinyl Siding

Interior Spaces

  • Ceiling Fan
  • Sliding Windows
  • Storage

Flooring

  • Tile
  • Vinyl

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 5 Full Bathrooms

Outdoor Features

  • Above Ground Pool
  • Patio

Utilities

  • Central Heating and Cooling System
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for cleaning fee
  • Assessor Parcel Number 33-46-24-W1-00204.0090
  • Tax Block 4

Community Details

Overview

Recreation

  • Community Beach Access

Building Details

Home Details

Home Type

Single Family

Est. Annual Taxes

$6,317

Year Built

Built in 1974

Lot Details

0

Listing Details

  • Legal Description: GULF HEIGHTS BLK 4 PB 6 PG 39 LOT 9
  • Property Type: Residential Income
  • Table: Residential Income
  • Street View Param: 1$26.431452$-81.913601$200.29$13.33$1.00$FVEGERE6HFC0PiwhICHzLw
  • Building Design: Triplex
  • Building Description: Split level, Stilts
  • Year Built: 1974
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Full Bathrooms: 5
  • Total Bathrooms: 5.00
  • Total Bedrooms: 5
  • Flooring: Tile, Vinyl
  • Windows: Sliding

Exterior Features

  • Gulf Access: No
  • Private Pool: Yes
  • Private Spa: No
  • Roof: Metal
  • Construction: Wood Frame
  • Road: Public Road
  • Exterior Features: Fence, Patio, Storage
  • Exterior Finish: Vinyl Siding
  • Private Pool Type: Above Ground

Utilities

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

Association/Amenities

  • Pets: No Approval Needed
  • Development: Gulf Heights
  • Amenities: Beach Access
  • Community Type: Non-Gated
  • Units In Building: 3

Condo/Co-op/Association

  • Sub Condo Name: GULF HEIGHTS

Lot Info

  • Section: 33
  • Waterfront: No
  • Zoning Code: TFC2
  • Acres: 0.1290
  • Lot Description: Regular
  • Lot Dimensions: 45 X 125
  • Parcel Number: 33-46-24-W1-00204.0090

Rental Info

  • Tenant Pays: Cleaning Fee

Tax Info

  • Tax Description: City And County
  • Taxes: 6317.00

Multi Family

  • Gross Rental Income: 198000.00
  • Annual Expenses: 78000.00
  • Annual Net Operating Income: 120000.00
  • Total Buildings: 1

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 List to Sale Price per Sq Ft Prior Sale
02/15/2022 02/15/22 Sold $1,600,000 -9.1% --
01/19/2022 01/19/22 Pending -- -- --
12/20/2021 12/20/21 For Sale $1,760,000 +181.6% --
09/27/2019 09/27/19 Sold $625,000 -5.0% -- View Prior Sale
08/21/2019 08/21/19 Pending -- -- --
07/13/2019 07/13/19 For Sale $657,900 0.0% --
07/05/2019 07/05/19 Pending -- -- --
06/27/2019 06/27/19 Price Changed $657,900 -0.2% --
05/18/2019 05/18/19 For Sale $659,000 +16.6% --
05/26/2015 05/26/15 Sold $565,000 -2.4% $271 / Sq Ft View Prior Sale
04/26/2015 04/26/15 Pending -- -- --
03/08/2015 03/08/15 For Sale $579,000 -- $277 / Sq Ft
Source: Multiple Listing Service of Bonita Springs-Estero

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Alex King

    Seller's Agent in 2022

    Alex King

    Premiere Plus Realty Company

    (239) 849-3663

    248 in this area

    291 Total Sales

    Alex King
    Section Image

  • B

    Buyer's Agent in 2022

    Brian Falke

    Barclays Real Estate Group 1

    (239) 297-8408

    3 in this area

    57 Total Sales

    Brian Falke
    Section Image

  • F

    Seller Co-Listing Agent in 2019

    Flavio Galafati

    Premiere Plus Realty Company

    Section Image
  • florian necula

    Seller's Agent in 2015

    florian necula

    Starlink Realty, Inc

    (239) 810-0144

    2 in this area

    24 Total Sales

    florian necula
    Section Image
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Map

Source: Multiple Listing Service of Bonita Springs-Estero

MLS Number: 221087309

Multiple Listing Service of Bonita Springs-Estero
Florida Lee County Fort Myers Beach 33931

5530 Palmetto St, Fort Myers Beach, FL

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