1. Florida
2. Palmetto
3. 516 7TH AVENUE W 1

516 7TH AVENUE W 1, Palmetto, FL 34221

• 4 beds |
• 4 baths |
• 3,072 sqft

Property Description

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 you’re 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.

Listing Status:

Active

Date Added:

June 26, 2025 at 05:00AM

Listing Office:

RICHARD PETERS REALTY LLC : 352-448-9712

Listing Agent:

Ian Miles : 774-231-4254

MLS ID:

TB8401410

Interior

• General: Other
• Appliances: Electric Water HeaterRefrigerator
• Laundry: Washer Hookup
• Flooring: Tile
• A/C: Wall/Window Unit(s)
• Heating: Electric

Exterior

Construction

Location

Lot

Utilities

Financial

This listing courtesy of Ian Miles, RICHARD PETERS REALTY LLC