- For Sale $1,235,000
- Property Type Multi-Family
- Property Size 6,600 SF
- Units 8
- Lot Size 0.42 Acre
- Parking Spaces Avail. 2
- Property Tenancy Multi-Tenant
- Year Renovated 2025
- Date Updated Sep 25, 2026
Description
Located in Beautiful Palmetto, Fl!
Highlights
- 100% OCCUPIED! LONG TERM TENANTS! MASSIVE UPSIDE AS THE CURRENT RENTAL RATES ARE APPROXIMATELY $300-$350 BELOW THE MARKET AVERAGE!
- 2025 CASH-ON-CASH RETURN: 10%!
- 2026 CAP RATE: 8.5%!
- 2026 CASH-ON-CASH RETURN: 13%!
- 2027 CAP RATE: 9%!
- 2027 CASH-ON-CASH RETURN: 14%!
- 8-UNIT APARTMENT COMPLEX LOCATED IN HISTORIC PALMETTO, FL!
- HVAC SYSTEMS WERE REPLACED IN 2019!
- NEW COURTYARD AND LAUNDRY FACILITIES WERE ADDED IN 2O25!
- SELLER FINANCING AVAILABLE! APPROX. TERMS: $550,000 DOWN, 4.5% IR (YEAR 1), 5.5% IR (YEAR 2, 6.5 % IR (YEAR 3), INTEREST-ONLY PAYMENTS, 3-YEAR BALLON!
- THE PALMETTO PLACE APARTMENTS FOR SALE!
- THE ROOF WAS REPLACED IN 2020!
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Contacts
David Rosenthal
Grimaldi Commercial Realty Corp.
Location
Located at 1913 3rd Avenue East, Palmetto, FL 34221, this property is part of the Memphis neighborhood and Southwest Florida Coast market.
Contact Listing Broker
David Rosenthal
Grimaldi Commercial Realty Corp.
