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Rare cash-flowing 4-plex in the heart of Palmetto, fully leased and under market 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. 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.
| DAYS ON MARKET | 1 | LAST UPDATED | 6/26/2025 |
|---|---|---|---|
| TRACT | WILLIS ADD TO PALMETTO | YEAR BUILT | 1906 |
| COMMUNITY | 34221 - Palmetto/Rubonia | COUNTY | Manatee |
| STATUS | Active | PROPERTY TYPE(S) | Single Family |
| ADDITIONAL DETAILS | |
| AIR | Wall/Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Cooktop |
| AREA | 34221 - Palmetto/Rubonia |
| CONSTRUCTION | Frame |
| EXTERIOR | Balcony |
| HEAT | Electric |
| INTERIOR | Other |
| LOT | 7405 sq ft |
| SEWER | Public Sewer |
| STORIES | 2 |
| SUBDIVISION | WILLIS ADD TO PALMETTO |
| TAXES | 7285 |
| UTILITIES | Cable Available, Cable Connected, Electricity Available, Electricity Connected, Sewer Connected, Water Available, Water Connected |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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Listing provided by Ian Miles, RICHARD PETERS REALTY LLC
The information contained herein has been provided by My Florida Regional MLS DBA Stellar MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. Listings last updated 6/27/25 7:07 AM PDT.
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