13% CASH-ON-CASH RETURN! THE PALMETTO PLACE APARTMENTS FOR SALE! (SELLER FINANCING AVAILABLE!)

For Sale

1913 3rd Avenue East, Palmetto, FL 34221

This Palmetto property for sale is located at 1913 3rd Avenue East. The current listed sale price for 13% CASH-ON-CASH RETURN! THE PALMETTO PLACE APARTMENTS FOR SALE! (SELLER FINANCING AVAILABLE!) is $1,235,000. 13% CASH-ON-CASH RETURN! THE PALMETTO PLACE APARTMENTS FOR SALE! (SELLER FINANCING AVAILABLE!) is situated on a lot that is 0.42 acre in size.

Contacts

broker
David Rosenthal

Grimaldi Commercial Realty Corp.

Property Details

  • 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 Feb 14, 2025
Located in Beautiful Palmetto, Fl!
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Highlights

  • THE PALMETTO PLACE APARTMENTS FOR SALE!
  • 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!
  • 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!
  • 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%!
  • NEW COURTYARD AND LAUNDRY FACILITIES WERE ADDED IN 2O25!
  • THE ROOF WAS REPLACED IN 2020!
  • HVAC SYSTEMS WERE REPLACED IN 2019!

Getting around

  • 35/100

    Walk Score ®

  • 59/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Palmetto, FL
  • Neighborhood Memphis
  • Zip Code 34221
  • Market Southwest Florida Coast

Points of Interest

  • RaceTrac

    0.17 miles

  • Mobil

    0.53 miles

  • Citgo

    0.73 miles

  • Wawa

    2.60 miles

  • BP

    2.87 miles

  • ONE9

    3.04 miles

  • Kriya

    3.08 miles

  • Electrify America

    3.37 miles

  • Tesla Supercharger

    3.38 miles

  • Shell

    3.58 miles

  • Publix

    0.94 miles

  • Riverwalk Lot

    2.27 miles

  • City Centre Parking Garage

    2.40 miles

  • Lewis Park parking lot

    2.88 miles

  • Parking North

    3.29 miles

  • Parking East

    3.43 miles

  • Starbucks parking

    6.57 miles

  • Overflow Parking

    6.61 miles

  • Robinson Preserve South Parking Lot

    7.06 miles

  • Courtyard Bradenton Sarasota/Riverfront

    2.16 miles

  • SpringHill Suites Bradenton Downtown/Riverfront

    2.34 miles

  • Hampton Inn & Suites

    2.43 miles

  • Red Roof Inn Ellenton

    2.94 miles

  • Super 8

    3.11 miles

  • Hampton Inn Ellenton/Bradenton

    3.52 miles

  • 9th St West Motel

    3.67 miles

  • Baxter's Motel

    4.14 miles

  • Days Inn by Wyndham Bradenton - Near the Gulf

    4.27 miles

  • Villa FloridaDream in Bradenton/Anna Maria Island zu vermieten

    4.92 miles

  • Walmart Supercenter

    0.52 miles

  • ALDI

    0.76 miles

  • Publix

    0.90 miles

  • Detwiler's Farm Market

    1.08 miles

  • Winn-Dixie

    1.13 miles

  • Ellenton Premium Outlets

    3.39 miles

  • TJ Maxx

    3.78 miles

  • Macy's

    4.55 miles

  • DeSoto Square Mall

    4.57 miles

  • Bealls

    4.65 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker
broker
David Rosenthal

Grimaldi Commercial Realty Corp.

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