1900 Bayshore Road
PALMETTO, FL 34221

Description

Awesome Multi-unit Property close to the heart of Palmetto; approximately 1/2 acre adjacent to railroad track on backside, water retention pond to the right and woods to the left..... Very quiet and private spot off of 17th St on Bayshore Road - one block East of business 41. This property boasts a 8.6% Cap Rate at list price, with No deferred maintenance. The occupancy rate has always been 100% and we have a waiting list for interested tenants! The main house, which has been totally remodeled in 2016, with a new roof, all new electric and Mechanicals (central AC)... Long-term tenant has been in place ever since. Adjacent to the main house are three remodeled 2/1 cabins that have been consistently sought after for economical rentals. The value-add for this property is that it is Zoned for Under 10-Unit Property.....WOW!!!!! The opportunities are many!!! Owner has been struggling with wanting to tear everything down and put up a couple multi-unit commercial buildings or just keep current as Cash-Flow COW!

Details

MLS#A4432016
Sub-TypeResale
StatusActive
Year1947
Days On Site112

Features

SQ Feet2,640
Units4
Building(s)4

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Area Information

StateFL
CountyManatee
CityPALMETTO
Zip Code34221
Area34221 - Palmetto/Rubonia
Listing VS Median (in 34221)
Price:
$350,000
low | high
Med:
$250,440
78.445714285714% of Average
SqFt:
2,640
low | high
Med:
1,492
93.484848484848% of Average
$ / SqFt:
$133
low | high
Med:
$168
23.389199540406% of Average
On Site:
112
low | high
Med:
80
100% of Average
Listing Updated: 07/19/2019
MLS Number: A4432016
Listing Provided By:
Doug Hensley  of  HENSLEY REALTY PROPERTY MGT.

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