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1913 3rd E ave
Palmetto, FL 34221 Palmetto/Ellenton

$1,235,000 USD

Apartments For Sale • 6,700 SF

Property Details

Property Type Apartments
Total Building Size 6,700 SF
Lot Size 0.55 AC
Year Built 1977
Zoning MF

0 Transit Score

35 Walk Score

                
                    Highlights
                
                                8-UNIT APARTMENT COMPLEX LOCATED IN HISTORIC PALMETTO, FL! 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%!
                            
                                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!
                            
                                NEW COURTYARD AND LAUNDRY FACILITIES WERE ADDED IN 2O25!
                            
                                THE ROOF WAS REPLACED IN 2020!  HVAC SYSTEMS WERE REPLACED IN 2019!

Property Flyers

Cash-On-Cash Return The Palmetto Place Apartments For Sale!

Amenities

Air Conditioning
Microwave
Storage Space
Tub/Shower
Family Room
Office
Trash Compactor

Public Transportation

Airport	Drive	Walk	Distance
Sarasota/Bradenton International	20 min	-	10.7 mi
St Pete-Clearwater International	47 min	-	33.1 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	24
Type:	Surface
Included in Rent:	Yes

David Rosenthal 813-245-7333 Grimaldi Commercial Realty Corp.

1913 3rd E ave Palmetto, FL 34221 Palmetto/Ellenton